This photo provided by GS25 shows a model introducing the convenience store chain’s “Kim Hye-ja” lunch box.
SEOUL, April 7 (Korea Bizwire) — South Koreans have embraced a fresh addition to their lexicon with the term “Hyeja-like”, denoting the exceptional content or quality of a product, especially in relation to its price.
This term is derived from acclaimed actor Kim Hye-ja’s name and was inspired by her philanthropic work in creating an affordable and high-quality lunch box for underprivileged children.
The “Kim Hye-ja Lunch Box” was launched in February with over 3 million units sold within 50 days, becoming a popular product at GS25 convenience stores.
In response to recent high prices, GS25 is now offering up to a 90 percent discount on this lunch box, as well as a new product called “Hyeja Homebap Neobiani Chicken Gangjeong,” which will also be sold at a discounted price.
Homebap refers to a dish tastes like a home cooked meal.
By utilizing GS25′s two-fun service, convenience store membership points, and specific payment systems, customers can purchase the “Hyeja Homebap Pork stir-fry” for only 350 won instead of its original price of 4,500 won (US$3.40), and the “Hyeja Homebap Neobiani Chicken Gangjeong” for 4,900 won instead of its original price.
Other retail stores are also following suit with their own ultra-low-priced promotions.
The retail industry is focused on providing ultra-low-priced products because consumers prioritize affordability when deciding what to purchase.
These marketing strategies aim to increase customer visits to stores and foster positive brand image. Moreover, these promotional events often lead to additional purchases of other products, such as ramen, drinks, and alcohol.
Overall, ultra-low-priced marketing has become a popular trend in the distribution industry in Korea, offering consumers affordable options without compromising on quality.
Lina Jang (linajang@koreabizwire.com)
