Emart Declares 'Radical Price Cuts'... Ultra-Low Discounts to Stabilize Prices

Monthly Lowest Price Sale on Food and Daily Necessities
Quarterly Launch of Half-Price Products with 'Price Rebound'

Emart has decided to sell food and daily necessities at the industry's lowest price level this year. Starting in February, it also plans to hold half-price events quarterly.

On the 4th, Emart announced a "2024 Price Shock Declaration" based on this plan and said it would implement it from the following day. Emart explained, "What customers, burdened by high inflation, want is to buy essential products at low prices," adding, "The purpose is to fulfill this clear demand, increase customer satisfaction, and solidify our position as the undisputed number one distribution company."

Emart announced its '2024 Price Breakthrough Declaration' to offer essential food items and daily necessities at the lowest price levels and will implement it starting from the 5th.
[Photo by Emart]

The Price Shock Declaration consists of three pillars: ▲ selecting three 'Key Items' in food each month and offering them at the lowest prices ▲ selling 40 categories of frequently purchased processed foods and daily necessities at the lowest prices monthly ▲ and quarterly selling limited edition 'Price Backtracking' products at half price.

The three monthly Price Shock food items are selected from food, vegetables, and processed foods, one from each category. From the 5th of this month to the 1st of next month, Emart will feature pork belly, green onions, and steamed buns as the three Price Shock food items. Prices are up to 40% cheaper than the regular price. Emart plans to continue selecting 'core products' with high consumer preference, such as eggs, chicken, and rice.

The other pillar of the Price Shock Declaration, the 40 processed food and daily necessity items, consists of products that consumers frequently put in their shopping carts. There are 28 processed food items and 12 daily necessities, including instant rice, bottled water, milk, cooking oil, toothpaste, toilet paper, and shampoo. This month’s lineup includes jajang ramen, bottled water, milk, kimchi, and toothpaste. Prices are reported to be up to 60% cheaper.

The Price Backtracking project products, which will be introduced from next month, are officially named "Price Backtracking 1993." Emart included the year 1993, when it first opened, in the project name to showcase cost-effective products that represent its long history. It also implies aiming for prices comparable to those 30 years ago. Emart plans to offer limited edition products priced 30-50% lower than regular prices and will release more than 50 products quarterly.

An Emart official said, "The Price Shock Declaration does not mean a so-called 'price war' to sell even 10 won cheaper than other retailers," adding, "Other companies may lower prices, but the benefits will ultimately go to consumers." He continued, "As the number one distribution company, we will lead the entire industry to contribute to price stabilization with pride and a sense of mission."

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