7-Eleven has launched two canned coffee products—Seven Select Black Coffee 240ml and Seven Select Café Latte 240ml—priced at 900 won, approximately 36% cheaper than comparable products on the market. (Yonhap)
SEOUL, July 31 (Korea Bizwire) — As South Korean consumers grapple with rising food prices, ultra-low-cost products priced under 1,000 won are gaining popularity—prompting convenience stores to expand their “super-value” offerings.
On July 30, 7-Eleven announced the launch of two canned coffee products, “Seven Select Black Coffee” and “Seven Select Café Latte,” each priced at just 900 won—roughly 36% cheaper than the market average of 1,400 won for similar items. The black coffee is marketed for its clean, Americano-style taste, while the café latte offers a mild sweetness and aroma appealing to a broad range of consumers.
This move follows 7-Eleven’s mid-July release of “Seven Select Venti Coffee” in 600ml PET bottles, available in black and hazelnut varieties for 1,800 won—33% cheaper than standard 500ml bottled coffees. The product saw a 70% surge in sales from July 18 to 25 compared to the previous month, reflecting strong consumer interest in high-volume, low-cost options.
Reflecting broader economic pressures, 7-Eleven reported that sales of all sub-1,000 won differentiated products rose 30% from July 1 to 25 compared to the same period a month earlier.
Convenience store CU has also released two ultra-low-priced samgyetang-style chicken products: chicken breast and whole chicken leg. (Photo courtesy of BGF Retail)
Rival convenience chain CU has also embraced the ultra-value trend. Ahead of Korea’s traditional midsummer days (Jungbok and Malbok), CU released two budget-friendly traditional chicken dishes: “Samgyetang Chicken Breast” for 1,900 won and “Samgyetang Whole Chicken Leg” for 3,500 won, as part of its private-label “Duktem” series.
Prepared with classic ginseng broth and microwaveable in under two minutes, these products offer a cost-effective alternative to Samgyetang, a traditional Korean restorative chicken soup that has become increasingly unaffordable. According to Korea Price Information, the cost of preparing Samgyetang at home has risen to 9,000 won per serving, while dining out averages 17,654 won, up 4.6% from a year ago.
In response to similar trends, large retailers like Emart, Homeplus, and Lotte Mart are offering aggressive promotions on fresh poultry and ready-to-eat health foods. Emart, for example, offered two antibiotic-free young chickens for 3,580 won with a member card, while Homeplus sold first-grade whole chickens for 3,650 won each with bulk purchase.
As consumer spending power weakens and economic uncertainty lingers, ultra-affordable, high-value products are emerging as a defining strategy for retailers seeking to capture cost-conscious shoppers looking for alternatives to pricey meals and beverages.
Ashley Song (ashley@koreabizwire.com)
