Lotte Mart and Super, Seeing the Effects of Integrated Sourcing, Confident as 'Number One Grocery Market'

Lotte Mart & Super 'Partners Day' Held
"Strengthening Integrated Sourcing... Aiming to Stand Tall as a Leading Grocery Company"

Lotte Mart and Lotte Super announced a new joint vision and expressed their intention to establish themselves as a ‘Grocery Market’ that provides food and shopping experiences next year.

According to the distribution industry on the 8th, Lotte Mart and Lotte Super held a partner invitation vision declaration ceremony, ‘2024 Lotte Mart & Lotte Super Partners Day,’ at Lotte Signiel Seoul in the afternoon. They invited CEOs and executives from over 100 major partner companies to share changes and achievements since the integration and discuss growth strategies to achieve the integrated vision.

Since transforming into a single company in November last year, Lotte Mart and Super have secured a stable profit structure. The integration of product sourcing operations was a key factor in strengthening the quality and price competitiveness of grocery products. Projects such as ‘Freshness Renewed,’ which improved the process from production to display to enhance fresh food quality, and the ‘Snow Plan,’ which offers more benefits to loyal offline store customers, were also effective in securing competitiveness. As a result, the number of visitors to Lotte Mart showed an increasing trend for the first time in 12 years.

At this event, Lotte Mart and Super declared their new integrated vision, ‘No.1 Grocery Market.’ This embodies their ambition to be a leading company representing Lotte Grocery that provides the best food and shopping experiences and takes responsibility for customers’ enjoyable eating lifestyles.

To this end, Lotte Mart and Super plan to expand the range of integrated sourcing items to further strengthen quality and price competitiveness and broaden the scope of the ‘Freshness Renewed’ items. They will also build an integrated next-generation system to achieve IT and logistics work efficiency and actively expand the global market, focusing on Indonesia and Vietnam, which are key to future growth. They will introduce a new type of store called ‘Grand Grocery.’ This store concept gathers food-specialized stores and offers the largest selection of ready-to-eat foods in Korea.

Kang Sung-hyun, CEO of Lotte Mart & Super, said, “The meaningful achievements we have made this year since the integration of Mart and Super were possible because of the active cooperation of our partners added to our efforts,” and added, “I hope this event will be an opportunity for us to grow together toward becoming the ‘No. 1 Grocery Market.’”

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