Lotte Affiliates Join Forces—and It Works: ‘Sumgyeol Whole Loaf’ Sales Top 1 Million

[Financial News] ‘Sumgyeol Whole Loaf,’ launched jointly by Lotte Mart and Super and 7-Eleven, has surpassed 1 million units in cumulative sales.
According to industry sources on the 27th, around 670,000 units of Sumgyeol Whole Loaf were sold at Lotte Mart and Super and around 330,000 at 7-Eleven from its launch on April 16 through the 25th of this month. Average daily sales were about 5,180 units.
At Lotte Mart and Super, it ranked first in cumulative sales among all sliced-bread products since its launch. It sold about 3.5 times as many units as leading mass-produced sliced breads on the market. Over the same period, sales of meal breads at Lotte Mart and Super rose 30.3% from a year earlier.
With demand growing for meal breads that offer a quick and easy way to put a meal together amid high prices and rising dining costs, analysts say the product’s price in the 2,000-won range helped boost sales.
Lotte Central Research Institute, Lotte Wellfood Co., Ltd., Lotte Mart and Super, and 7-Eleven took part in developing the product. Lotte Central Research Institute applied a lactic acid bacteria fermentation process, while Lotte Wellfood handled production. Lotte Mart and Super and 7-Eleven sold it as a private-brand (PB) product. Lotte Department Store operated related pop-up stores at six locations nationwide.
To mark cumulative sales surpassing 1 million units, Lotte Mart and Super will hold a discount event for Sumgyeol Whole Loaf from the 29th through the 11th of next month.
“Sumgyeol Whole Loaf is a flagship product that delivers both quality and price competitiveness through collaboration among Lotte affiliates,” said Kim Ye-rin, a merchandiser on Lotte Mart and Super’s Food PB Development Team 1. “We will continue to develop high-quality, great-value products that customers can enjoy without stretching their budgets, and consistently introduce differentiated PB products from Lotte Mart and Super.”

[email protected] Kim Hyun-ji Reporter