large discount stores are fiercely competing to attract price-sensitive consumers who are eager to save even a penny. (Image courtesy of Lotte Mart)
SEOUL, Oct. 17 (Korea Bizwire) – Amidst prolonged high inflation, large discount stores are fiercely competing to attract price-sensitive consumers who are eager to save even a penny.
According to the retail industry, E-Mart has been organizing a group purchasing event called ‘Order Pick’ through the E-Mart app since April. ‘Order Pick,’ a term formed by combining ‘order’ and ‘pick up,’ allows users to collectively order and pay for items through the app and pick them up at designated stores.
Upon achieving the predetermined order volume, users can purchase the items at a discounted price of up to 70% off compared to the regular price. E-Mart secures sales volume in advance, ensuring sufficient order volume for partner companies, thus reducing prices by alleviating their inventory burden.
Lotte is promoting ‘Only One Deal,’ an event jointly planned and developed by Lotte Mart and Lotte Supermarket. It secures purchasing volume through joint sourcing and enhances cost competitiveness by optimizing product operations.
Lotte initially introduced about 20 ‘Only One’ items, highly favored by consumers, back in June and has recently expanded the list to about 70 items. This event covers a variety of items, ranging from food products like nuts, milk, kimchi, and gochujang to daily necessities such as toothpaste, laundry detergent, and frying pans.
Homeplus is operating an online pre-reservation system, focusing on popular items among its customers. It offers early-bird benefits, including discounts on product prices or additional related items as gifts.
While Homeplus operated the reservation service on a non-regular basis until last year, due to continued high inflation and increased customer demand, it has been conducting this promotion on a weekly basis since March.
Ashley Song (ashley@koreabizwire.com)
