Lotte Mart Introduces Norwegian Salmon Priced Around 3,000 Won

Lotte Mart is introducing Norwegian salmon priced in the 3,000 KRW range.

Lotte Mart announced on the 14th that from the 16th to the 29th, for two weeks, it will sell Norwegian "Naega Mandeuneun Yeoneo (100g, sashimi grade)" and "Naega Mandeuneun Yeoneo (100g, grilling grade)" at 3,990 KRW and 3,710 KRW respectively, each with a 30% discount for L.Point members.

Customers looking at the 'Make Your Own Salmon' product at the seafood corner of Lotte Mart Hwajeong Branch. Photo by Lotte Mart

원본보기 아이콘

These products are salmon of Superior grade, characterized by a vivid crimson color and a firm texture. The fillet products have all fish bones removed, making them suitable for various dishes such as sushi and sashimi rice bowls according to preference.

Lotte Mart launched this discount event due to growing concerns over rising import prices amid the recent sharp increase in the KRW-USD exchange rate. In fact, the regular price of Lotte Mart’s imported fresh food Norwegian "salmon fillet" rose by 14.4% from 4,980 KRW in January last year to 5,700 KRW in January this year.

To prepare for the 3,000 KRW range salmon event, Lotte Mart secured about 50 tons of raw salmon through advance contracts in November last year, before the exchange rate surged. Additionally, the salmon was air-shipped directly to each store without passing through intermediate distributors, saving logistics costs.

Through this event, Lotte Mart expects to reduce consumers’ purchasing burdens while increasing overall sales of the salmon product line. During the lowest price salmon event held in December last year, the "Naega Mandeuneun Yeoneo (100g, sashimi grade)" was sold at a 40% discount, resulting in approximately a 60% increase in sales of the salmon sashimi product line compared to the previous year.

Meanwhile, from the 16th to the 22nd of this month, Lotte Mart will offer "Gwang-eo Hoe (350g)" at about a 40% discount for L.Point members when paying with event cards, priced at 27,840 KRW. To prepare for this Gwang-eo Hoe event, Lotte Mart secured about 50 tons of raw Gwang-eo from a Jeju Gwang-eo farm through advance contracts.

Jo Seong-yeon, Product Planner (MD) of Lotte Mart & Super Seafood Team, said, "We prepared special discount events for salmon and Gwang-eo Hoe based on the raw salmon and Gwang-eo procured cheaply through advance contracts. Through this event, we aim not only to ease customers’ shopping burdens but also to take the lead in stabilizing seafood prices."

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.