This photo, taken on April 16, 2023, shows frozen foods displayed at a discount store in Seoul. (Yonhap)
SEOUL, April 17 (Korea Bizwire) — With high inflation putting financial pressure on households, an increasing number of consumers are opting for frozen products, even in the categories of fruits and vegetables.
According to South Korean discount retailer E-Mart Inc., the company’s sales of frozen vegetables marked a 22.4 percent growth over the past year from April 2022 to March 2023, far higher than 2.4 percent growth in overall sales of vegetables.
E-Mart suggested that demand for frozen vegetables is increasing because they are not only affordable but also prepared for cooking purposes and have a longer shelf life.
Even in the category of fruits, frozen products are popular.
E-Mart saw the sales of its frozen fruits rise by 3.2 percent over the past year, the growth rate has shot up to 23.1 percent since last month.
Since last month, the retailer saw its mango sales fall by 30.6 percent but the sales of frozen mangos jumped by 30.7 percent. During the same period, sales of blueberries fell by 23.5 percent but frozen products soared by 36.7 percent.
Over the past year, E-Mart’s pork sales grew by a mere 3.1 percent, primarily due to the hike in pork prices, but sales of frozen pork products jumped by 42.4 percent.
Ashley Song (ashley@koreabizwire.com)
