“Value-for-money private-label products gain popularity amid pressure on grocery budgets” ... Lotte Mart holds ‘PB Festa’

[Financial News] As more consumers seek value-for-money private-label (PB) products amid high prices, Lotte Mart is launching a wrap-up promotion offering discounts on flagship PB products and new items.
According to industry sources on the 14th, Lotte Mart will hold ‘PB Festa’ at all its stores from the 15th to the 28th. It will offer discounts on flagship and new products from its master PB brand Oneuljoeun and its home meal replacement (HMR) PB brand Yorihada, and will also run a cashback event for customers who make purchases.
From January to September this year, Lotte Mart’s overall PB sales rose 15% from the same period last year, while sales of PB products priced at 5,000 won or less increased 37%. In response, Lotte Mart has increased promotional stock of flagship PB products that have sold particularly well this year.
New products will be added to the ‘Yorihada Star Chef Edition.’ Lotte Mart will introduce 12 new products, including sweet-and-sour pork, guobaorou and kimchi udon made using recipes from chefs Jung Ji-sun and Jung Ho-young, and will discount about 29 products, including existing items. It has also expanded its chef collaborations to seasoned meat products and snacks.
Lotte Mart will also run the ‘Oneuljoeun Super Value PB Collection,’ featuring 200 products priced from 500 to 5,000 won, with a focus on milk and snacks. Household goods, including storage boxes, hygiene products and toilet paper, will also be discounted.
Lee Kyung-won, an official with the PB Brand Management Team at Lotte Mart and Lotte Super, said, “To thank customers for supporting PB products that emphasize quality and value for money throughout the year, we planned a wrap-up sale on flagship products and a promotion focused on new products.” Lee added, “We will continue to offer product assortments and promotions that can genuinely lower the perceived cost of groceries in consumers’ baskets.”
[email protected] Kim Hyun-ji Reporter