SEOUL, Dec. 21 (Korea Bizwire) — The prices of popular cakes selling at South Korea’s major bakery and coffee chains rose sharply over the past year amid high inflation.
The price of Paris Baguette’s Strawberry Fraisier Cake rose to 32,000 won (US$24.90) from 27,000 won last year.
A Twosome Place’s Strawberry Fresh Cream Cake saw its price rise from 29,000 won early last year to 31,000 won at the end of last year and to 34,000 won this year.
Against this backdrop, consumers are choosing cost-effective cakes sold at large discount stores.
When it comes to the cakes selling at a price of 10,000 won at discount retailer Emart Inc.’s bakery, sales for the first week of December jumped by 32 percent compared to a year ago.
Image Credit: KG Hollys F&B Co. / Starbucks Coffee Korea / photonews@koreabizwire.com
