"From Daily Necessities to Groceries"... 'Jjantech' Spreads Amid High Inflation, 'Large-Volume Products' Gain Popularity

Preference for Bulk Products as 'Recession-Type Consumption' Amid High Inflation
Yuhan-Kimberly's Bulk Toilet Paper Sales Up 150% Year-on-Year
Wellcron Healthcare's Bulk Sanitary Pad Sales Also Up 93.3%
Convenience Store Industry Expands Bulk Product Lines for Toilet Paper and Detergents
Experts: "Rational Consumption to Maintain Consumption Levels While Reducing Spending"

On the 4th, customers are shopping at a convenience store in Seoul where demand for bulk daily necessities and products with free gifts has increased due to high inflation. Emart24 announced that sales of bulk daily necessities from July to September this year increased by 41% compared to the same period last year.
[Image source = Yonhap News]

[Asia Economy Reporter Kwak Minjae] Recently, as high inflation continues, consumers are paying attention to so-called ‘cost-effective’ products. With the economic downturn, the number of ‘Jjantech’ (frugal + financial technology) consumers who purchase goods at low prices is increasing, leading to a rise in sales of bulk products as a form of recession-type consumption. The intention is to reduce the perceived burden by buying products that offer more quantity or provide free gifts at the same price. Statistics also show that consumers have increased their purchases of bulk products.

According to the industry on the 14th, sales of bulk products among Yuhan-Kimberly’s Kleenex toilet paper from January to September this year increased by 150% compared to the same period last year. A Yuhan-Kimberly official explained, "These products are gaining popularity among consumers recently because they are environmentally friendly and allow the purchase of bulk products at reasonable prices."

Sales of bulk sanitary pads have also increased. According to Welcron Healthcare, sales of bulk products with 80 or more pieces from the sanitary pad brand ‘Yejimiin’ from January to August this year increased by 93.3% compared to the same period last year. A Welcron official said, "These bulk products were launched with price competitiveness in mind, and combined with package sales and promotional events, sales have significantly increased at major online malls and supermarkets."

The transaction amount of bulk daily necessities is also on the rise. Wemakeprice analyzed the transaction amount of bulk daily necessities from August 27 to September 25 and found it increased 2.2 times compared to the same period last year. By product, bulk transaction amounts of hygiene products such as toothpaste (378%), soap (69%), shampoo (15%), and detergents (78%) and toilet paper (63%) surged. Among processed foods, bulk sales of products with long shelf life such as coffee (215%) and snacks (31%) increased.

The convenience store industry is also increasing the composition of bulk products to respond to the spread of recession-type consumption. Emart24 expanded its bulk toilet paper and detergent product lines earlier this year. As a result, Emart24’s sales of bulk daily necessities from July to September increased by 41% compared to the previous year. An Emart24 official said, "In the past, there was a perception that convenience stores should sell small-sized and simple products for one- or two-person households, but recently, with continued high inflation and more consumers seeking bulk products, we are increasing the composition of bulk and promotional products."

The preference for bulk products is spreading beyond daily necessities to food items. Vegetables have traditionally not been purchased in large quantities due to freshness concerns. However, Market Kurly’s sales of bulk products from July to September increased 4.7 times compared to the same period last year, especially bulk sales of ready meals such as fried rice and dumplings, as well as dairy products and vegetables with relatively short shelf lives, which doubled.

Professor Lee Eunhee of Inha University’s Department of Consumer Studies said, "Consumers’ preference for bulk products in the era of high inflation is a rational consumption behavior aimed at reducing spending within a range that does not excessively shrink consumption levels amid economic contraction."

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