Models pose with 9,980-won (US$7.67) cakes at an E-Mart outlet in Seoul on Nov. 30, 2022. (Yonhap)
SEOUL, Dec. 2 (Korea Bizwire) – With the conspicuous consumption trend of the young generation in their 20s and 30s losing momentum due to high inflation, South Korea’s major retailers are releasing a string of low-price cakes ahead of the Christmas and year-end holiday season.
Shinsegae Food Inc., a food business arm of the country’s retail giant Shinsegae, started selling two types of 9,980-won (US$7.67) cakes at E-Mart outlets on Thursday.
Convenience store chain GS25 recently released four types of mini-cakes with prices ranging from 5,900 won to 6,500 won, and is also selling two types of whole cakes for 33,000 won.
7-Eleven also joined hands with a custom cake brand to sell a limited number of 29,000-won mini cakes for one or two people.
Bakery chains are providing discount benefits to customers who place pre-orders.
Tous Les Jours, for example, is offering a 20 percent discount benefit to those who place pre-orders for cakes through its official app until Dec. 18.
Paris Baguette also launched a Christmas cake pre-order promotion offering a discount of up to 25 percent until Dec. 18.
Ashley Song (ashley@koreabizwire.com)
