"This Weekend, 'Half-Price Hanwoo' Home Party"... On-Off Hanwoo Day 'Shocking Discounts'

Lotte Mart, E-Mart, Homeplus Offer Up to 50% Off Hanwoo
SSG.com, Kurly Join Online with "Personalized Product Suggestions"
Rising Dining Prices... Increasing Trend of Hanwoo Consumption at Home

Models are introducing the Hanwoo Day event at the meat section of Emart Seongsu store. Emart is holding the 'Emart Hanwoo Day' event, offering up to 50% discount on 170 tons of Hanwoo beef when accumulating Shinsegae points, until the 30th. (Photo by Emart)

The 'Half-Price Hanwoo Discount' event commemorating Hanwoo Day (November 1) is continuing across online and offline distribution channels. In a situation where demand is increasing for enjoying Hanwoo at home instead of dining out due to high inflation, the strategy is to attract consumers to each channel by offering high-quality Hanwoo at up to half price.

According to the distribution industry on the 29th, Lotte Mart is holding a maximum 50% discount event on all first-grade Hanwoo products until November 2, the first week of the integrated discount event 'Lottky Day' across the Lotte distribution group. Lotte Mart has prepared about 900 heads of Hanwoo, approximately 180 tons, for this event. The highest grade Marble Nine Hanwoo products sold at Lotte Mart are also included in the up to 50% discount event. The representative items of the event are 'First-grade Hanwoo sirloin' and 'Marble Nine Hanwoo sirloin.' Other representative grilling Hanwoo products such as tenderloin, striploin, chuck flap tail, and skirt meat are also offered at prices up to 40% lower than the usual selling price. A 'Large-sized Hanwoo Beef Bone and Offal Pack' for health during the changing seasons is also introduced at the event price. Lotte Super is offering up to 50% discount on fresh foods until the 1st of next month. When paying with a Lotte Card, 'First-grade Hanwoo soup cuts and bulgogi' are sold at about 50% discount.

Emart and SSG.com have also prepared 170 tons of Hanwoo to meet the demand for Hanwoo Day until the 30th. Considering that Emart usually sells about 20 tons of Hanwoo per week, they have prepared about two months' worth of stock for four days of sales. Hanwoo is offered at up to 50% discount when accumulating Shinsegae points. Emart sells the most popular sirloin at a 50% discounted price. Understanding that customers mainly purchase Hanwoo sirloin, Emart has increased the sirloin quantity by 20% compared to last year. Other items are discounted by 40%. The 'Hanwoo Pre-Order System' has also been introduced. This service secures high-quality Hanwoo in advance according to the order quantity to provide it to more customers. It applies only to customers using the time-specified delivery 'SSG Delivery' in the 'PP (Picking·Packing) Center' zones, which are Emart's nationwide online delivery centers. Customers can receive delivery on their desired date during the period from October 31 to November 2.

Homeplus is also participating in the Hanwoo Day discount event, selling all Hanwoo products at up to half price until the 2nd of next month. Homeplus has increased the quantity by 52% compared to last year's sales volume for this event.

Market Kurly is also holding the 'Good Day to Eat Hanwoo' promotion until the 3rd of next month, offering over 80 related products including top-grade Hanwoo, side vegetables, and convenience foods at up to 35% discount. Kurly's premium Hanwoo private brand (PB) 'PPUL;ppul' offers various products at affordable prices. 'PPUL;ppul' is a 1++ top-grade Hanwoo evaluated by professional auctioneers at about 0.3% level. They also suggest product recommendations by category according to preferences. 'Hoengseong Livestock Cooperative Hanwoo's' '1++ Hanwoo sirloin steak' and 'Gyeongju Millennium Hanwoo's' '1++ Hanwoo chadolbagi for grilling' are suitable for grilling with their tender texture and rich juice. 'Taewoo Hanwoo's' '1+ Hanwoo cut soup cuts' and 'Gyeongju Millennium Hanwoo's' '1++ Hanwoo bulgogi cuts,' which have less fat and are suitable for soup and bulgogi, are also prepared.

The prices for this event are generally cheaper than wholesale prices, and each company expects consumer interest to be greater than in previous Hanwoo Days due to high inflation. According to the Livestock Products Quality Evaluation Service's livestock distribution information, as of the 24th, the wholesale price of first-grade sirloin is 68,146 KRW per kg, which converts to 6,814 KRW per 100g. Emart's Hanwoo Day first-grade sirloin event price is 5,690 KRW per 100g, about 16.4% cheaper than the wholesale price.

The reason each company is putting effort into the half-price Hanwoo event ahead of the largest discount season in distribution is that demand is increasing for enjoying Hanwoo, a representative dining-out item, at a lower price amid sharply rising dining-out prices. According to the 'September 2022 Consumer Price Trends' announced by Statistics Korea, the consumer price index rose 5.6% compared to September last year. In August as well, the inflation rate recorded 5.7%, indicating a continued high inflation phase.

As a result, Hanwoo consumption through dining out is also decreasing. According to the 'Agriculture and Rural Economy Trends' published by the Korea Rural Economic Institute, the proportion of Hanwoo purchases in the dining-out sector in the second quarter of this year decreased by 0.7 percentage points compared to the same period last year. On the other hand, the proportion of purchases at marts is increasing. A large mart official said, "Due to soaring dining-out prices, more customers are directly purchasing Hanwoo at marts and enjoying it as home-cooked meals," adding, "We expect consumer interest in this Hanwoo Day event to be greater than in previous years."

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