Homeplus Introduces Lowest Price Guarantee... "1000 Products, Lowest Prices Among Top 3 Marts"

If More Expensive Than Emart or Homeplus Mall... Difference Accumulated as Home Money

Customers are purchasing products at Homeplus Gangseo branch in Seoul.

[Asia Economy Reporter Lim Chun-han] Homeplus announced on the 21st that it will further expand its ongoing 'Price Stabilization Project' by introducing a 'Lowest Price Guarantee System.'

Homeplus compares and searches prices of major products from the three large marts to offer products at the lowest price level. Among My Homeplus membership members, customers who have downloaded the My Homeplus application (app) and purchase 1,000 representative products such as milk, snacks, beverages, refrigerated and frozen foods at prices higher than those on Emart Mall and Lotte Mart Mall will receive the price difference credited as Home Money. The daily maximum accumulation limit is 5,000 points, which can be used at Homeplus Mart offline stores within 30 days after accumulation.

According to Homeplus, the 'AI Lowest Price' system, implemented since last month, has received positive responses from customers, resulting in a significant increase in sales at Homeplus offline channels. The AI Lowest Price is a big data algorithm-based pricing system that lowers the prices of 50 selected core products each week to the industry's lowest price level. From the first day of implementation on the 25th of last month to the 18th of this month, sales at the top 10 stores increased by about 22% year-on-year, and the number of customers increased by about 18%.

A Homeplus official said, "We have continuously expanded benefits by providing products at optimal prices throughout the year as part of the Price Stabilization Project to reduce customer burdens," adding, "We will fulfill our role as the frontline of price defense and establish ourselves as the most trusted distribution channel by customers."

This content was produced with the assistance of AI translation services.