"Samgyeopsal 788 won, Watermelon 10,000 won range".. Counterattack of Large Marts Excluded from Consumption Coupons [Report]

[Financial News] 10 a.m. on the 29th at E-Mart Yongsan branch in Seoul. As the store opened, customers waiting at each entrance flocked to the meat corner. This is because imported samgyeopsal is being sold at 788 won per 100g, a 60% discount compared to the regular price. Mr. Lee, in his 60s, said, "I visited the mart at opening time in case the stock runs out early."
The government has limited the use of the 'Living Recovery Consumption Coupon', implemented since the 21st, to traditional markets and franchise stores with annual sales of less than 3 billion won, excluding large marts. In response, large marts have launched large-scale discount events emphasizing 'ultra-low prices' to attract customers.
When asked why she visited the mart instead of traditional markets, which are consumption coupon locations, Ms. Kim Jeongsun, in her 50s, said, "I went to the traditional market to use the coupon, but there are quite a few items cheaper at the large mart event," adding, "I came because I heard watermelons were cheap today, but since I couldn't get in the first-come-first-served line, I bought samgyeopsal instead."
E-Mart is holding the 'Whale It Festa' for six days from today until the 3rd of next month, offering up to 60% discounts on major fresh and ready-to-eat foods. The event period has been doubled compared to the previous 'July Whale It Festa'. Major discounted items such as 'imported samgyeopsal and pork neck', 'live abalone', etc., were promoted with the phrase 'Challenge the Lowest Price'. Especially on the first day of the event, 'Mountain Watermelon' was sold on a first-come-first-served basis for 15,450 won in limited quantities, attracting consumers. 
As many customers flocked on this day, there were even disputes with staff over 'lack of stock'. Mr. Park, in his 70s, complained, "I ran here from the morning because I heard watermelons were in the 10,000 won range, but I gave up because they said I couldn't buy them even if I lined up," adding, "Isn't it a 'bait product' if they don't secure enough stock for a discount event?"
An E-Mart official explained, "Due to the large and heavy nature of watermelons, there is a limit to the quantity that can be supplied from the production area," adding, "We are trying our best to meet demand by securing more than 60-70% additional stock compared to the original plan."
Lotte Mart is also responding to the consumption coupon risk with a 'Makang Discount Event' targeting the summer vacation season until the 30th. They are offering up to 50% discounts focusing on essential foods such as wagyu, chicken, fruits, and health foods, and expanding categories by providing a 20% discount benefit to meet the demand for water play products that peaks at the end of July and beginning of August. In fact, during the five days from the 24th to the 28th, Lotte Mart's sales of 'abalone', which was offered at half price, increased by 25% compared to last year, showing the effect of attracting customers. 
A large mart official explained, "Since the use of the Living Recovery Consumption Coupon is restricted at direct sales stores of large marts, we are further strengthening discount events with price competitiveness and benefits as a strategy."


localplace@fnnews.com Kim Hyunji Reporter