High Inflation Boosts Home Cooking Demand... Korean Beef Sales Top Large Mart Rankings in First Half of Year
As dining out prices soared, the number of households cooking at home increased, and during the first half of this year, Korean beef ranked 1st or 2nd in sales at large discount stores.
Lotte Mart announced on the 13th that based on their sales survey for the first half of this year, Korean beef surpassed pork to become the top-selling item.
Last year's first-half sales ranking was pork, Korean beef, and beer.
Lotte Mart recorded the highest sales for Korean beef as a key product this year, overtaking pork, which was last year's top seller.
At E-Mart, the top 3 sales items in the first half of this year were pork, Korean beef, and eggs. During this period, Korean beef sales increased by 4.7% compared to the same period last year, rising from 3rd place to 2nd place.
E-Mart explained that customer response was high as beef buyers directly participated in auctions, purchasing in bulk at 10-20% below market rates and strengthening promotions.
A large discount store official said, "Eating pork and Korean beef at restaurants now requires such high expenditure that store sales have increased in proportion to dining out costs. As a result of expanding Korean beef discount events for price stabilization, Korean beef sales have noticeably increased compared to the first half of last year."
Large discount stores held Korean beef special price events not only on 'Meat Meat Day' (June 6th) but also monthly.
In March, E-Mart held a 'price-breaking' event selling 'Korean beef for stew, Grade 1 and 1+' (chilled) at around 3,000 won per 100g, 40% cheaper than before.
Lotte Mart also offered a 50% discount on all Grade 1 Korean beef items during payment with event cards during their 27th anniversary 'Thank You Day' in late March.
Particularly on the first day of the event (March 27th), they sold Grade 1 Korean beef for stew and bulgogi at 1,974 won per 100g, a 67% discount from the original price of 5,980 won, creating an 'open run' phenomenon with lines forming before opening.