GS25 Friday-Saturday-Sunday delivery/pick-up around 7,000 won
Lotte Mart ‘Consomme Flavor’ discount 8,268 won
CJ convenience food chicken 6-month sales KRW 30 billion
▲ Page 2 Amid the economic downturn, competition is taking place for cost-effective chicken targeting consumers who are reducing delivery and dining costs. In the era of ‘chicken inflation’, where the price of chicken plus delivery costs is approximately 30,000 won, convenience stores, large supermarkets, and convenience food industries are releasing chicken with reduced price bubbles.
According to the National Statistical Office on the 13th, the price index for chicken among dining out items recorded 119.94 last month, up 4.5% from the same period last year and 19.6% from November 2020, three years ago. Compared to the 12.6% increase in the overall consumer price index during the same period, the price increase of chicken was particularly steep.
Convenience store GS25 has decided to focus on a ‘cost-effective’ chicken strategy that goes against the era of high prices. Starting on the 15th, the price of 600g boneless chicken ‘Ssonsal Chicken’ will be lowered by 1,100 won from 13,000 won to 11,900 won. This product has been renewed from domestic chicken breast to Brazilian chicken thigh meat, and is provided with a 190ml can of cola, chicken radish, seasoning sauce, etc., making it as good as a franchise product. In particular, we decided to hold a 4,000 won discount event on Fridays, Saturdays, and Sundays for delivery or pickup orders through our app until next year, selling it for 7,900 won. This chicken is similar in weight to regular franchise boneless chicken, but the price is ‘half the price.’
The taste options for cost-effective chicken are also expanding. Lotte Mart, which attracted a lot of attention in the past with its 5,000 won ‘Big Chicken’, also introduced a new ‘Crunchy Consommé Chicken’ on the 7th and held a discount sale for 4 days until the 10th at 8,268 won, half the regular price. As it is relatively inexpensive, the explanation is that it will capture the tastes of consumers by adding the recently popular consommé-flavored seasoning powder to the existing menu, which was limited to fried food and seasoning. Chicken in the form of a convenient meal is also popular. CJ CheilJedang expects that its frozen chicken ‘Gourmet Sobaba Chicken’, which was released in April, will record sales of 50 billion won within the year, exceeding 30 billion won in sales in the six months to last October.
The preference for cost-effective chicken appears to be gradually increasing. According to the Rural Development Administration, home delivery consumption of chicken decreased slightly from about 3.3 kg in 2020 to 3.1 kg this year, but home convenience food consumption increased from 1.9 kg in 2020 to 2.2 kg this year. In particular, from the perspective of a distribution channel that must attract visitors to offline stores, cost-effective chicken products are considered effective products as they can play a significant role in attracting consumers. The cumulative increase in chicken sales at convenience stores and marts from January to November this year ranged from 18% to 55% compared to the same period last year.
Reporter Kim Hyeon-i
2023-12-13 14:40:00
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