"Increase in Strategic Consumers Amid High Inflation"… Large Supermarkets Expand Value Gift Sets

Emart and Lotte Mart Begin Pre-Sale of Lunar New Year Gift Sets from the 21st
Homeplus Pre-Sale Accounts for 70% of Chuseok Sales

As high inflation continues, a trend is spreading where consumers try to purchase Seollal gift sets in advance at lower prices. Large supermarkets have also reflected this trend by expanding practical set products that are relatively cheaper than high-end products.

According to the industry on the 19th, Emart will hold a pre-order event for Seollal gift sets from the 21st of this month until January 26th of next year. Over the past three years, the proportion of pre-order sales in total Seollal gift set sales has steadily increased, with 43% in 2021, 45% in 2022, and 46% this year. Emart expects this to exceed 50% this time.

Lotte Mart will also start pre-orders for Seollal gift sets on the same day. Lotte Mart’s pre-order sales rate is also on the rise. This year, pre-order sales accounted for 55% of total gift set sales during Seollal and exceeded 60% during Chuseok. A Lotte Mart representative said, "Pre-ordering has now become a common way to purchase gift sets." Considering that Homeplus’s pre-order sales ratio during last Chuseok approached 70%, they also plan to conduct pre-orders for Seollal gift sets during the same period and expand the product lineup to about 800 items.

Models are introducing the 2024 Lunar New Year gift set pre-orders at the Homeplus Mega Food Market Gangseo branch in Deungchon-dong, Seoul.
[Photo by Homeplus]

Models are promoting gift sets at Lotte Mart Zeta Plex Seoul Station branch.
[Photo by Lotte Mart]

The products these supermarkets are emphasizing in this pre-order period are practical sets summarized as "cost-effective" or "budget-friendly." For example, Emart reportedly doubled the quantity of Hanwoo beef sets priced in the 100,000 KRW range compared to last Chuseok. An Emart official stated, "While significantly increasing the quantity, we also lowered the price of the steady-seller 'Hanwoo' sets compared to last Seollal."

Among fruit sets, Emart also increased the quantity of Shine Muscat grape sets priced under 50,000 KRW by about 50%. The supermarket explained that quality was further upgraded by implementing a "real-name system for cultivation farms" for products stocked in stores. Emart said, "From October to December this year, Shine Muscat sales increased by 10% compared to the same period last year," adding, "We expect the purchasing trend to continue through the Seollal gift set season."

Lotte Mart is also offering fruit sets including apples and pears, which currently have high market prices, at prices below 50,000 KRW. They have expanded products under 50,000 KRW such as dried persimmon sets and herbal mushroom sets. Additionally, Jeju black pork, Hanwoo beef bone broth, and dried yellow corvina sets are available for pre-order in the 50,000 KRW range. Homeplus configured 67% of its approximately 800 pre-order products as gift sets priced under 30,000 KRW. Representative products include nut sets, shiitake mushroom mixed sets, and seaweed sets. Furthermore, many red ginseng, deer antler, and ham sets are priced below 30,000 KRW.

An industry insider said, "Due to prolonged high inflation, consumer sentiment has frozen, and a strategic consumption pattern is emerging where consumers carefully consider amounts and discount benefits when purchasing." They added, "During holidays or anniversaries with larger-than-usual expenditures, an efficient way to purchase high-quality products economically is gaining attention among 'strategic consumers.'"

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