"80% of People in Their 20s to 50s Buy PB Products... Preferred for Affordable Prices"

Lotte Members Lime Survey Results

Survey results on Lime private brand (PB) products. (Photo by Lotte Members)

[Asia Economy Reporter Lim Chun-han] Amid the ongoing high inflation, it was found that 8 out of 10 people in their 20s to 50s have experience purchasing private brand (PB) products.

On the 14th, Lotte Members conducted a survey on PB product purchase experience among 2,000 men and women nationwide aged 20 to 50 through the research platform Lime from the 4th to the 5th (with a sampling error of ±2.19% at a 95% confidence level). The results showed that 84.6% answered that they have purchased PB products. Additionally, 64.6% of all respondents believed that PB products help stabilize prices (57.8% said they help, 6.8% said they help a lot).

The most commonly purchased PB product categories (multiple responses allowed) were snacks such as cookies and chocolates (50.3%), ranked first. This was followed by dairy products (40.4%), refrigerated/frozen/convenience foods (38.6%), toilet paper (25.4%), instant rice and noodles (21.4%), bottled water (21.2%), detergents (15.3%), meat and eggs (10.8%), and fruits and vegetables (10.8%).

By age group, those in their 50s showed the highest experience in purchasing PB products and the highest trust. Among respondents in their 50s, 88% said they had purchased PB products, and 63.8% thought “the price is low while the quality is good,” which was higher than other age groups (20s 57.0%, 30s 56.2%, 40s 60.5%).

When asked about reasons for purchasing PB products (multiple responses allowed), the most common answer was “because the price is cheaper compared to existing products” (62.7%). Other notable responses included “good quality for the price” (47.6%), “many discount events and promotions” (39.6%), “curiosity to try once” (24.8%), and “trust in the company” (16.4%).

A Lotte Members official said, “It seems necessary for retailers to develop strategies tailored to their main customer base, such as offering interesting products that stimulate curiosity for people in their 20s and providing more diverse options for those in their 50s, while also continuously making efforts to improve overall quality and safety.”

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