BGF Retail, which operates the convenience store CU, announced on the 13th that it has launched a new triangular kimbap, the “Spicy Fish Cake Triangular Kimbap,” priced at 990 won, 10 won less than the usual 1,000 won. As high inflation and economic downturn have increased consumer price sensitivity, there appears to be intense competition in the retail industry for ultra-low prices, prompting CU to reduce prices even by 10 won increments.
According to CU, the growth rate of sales for products priced below 1,000 won was 29.8% last year, the highest in three years.
The Spicy Fish Cake Triangular Kimbap was launched on the 7th. It is an improved version of the 1,000 won “Spicy Fish Cake Triangular Kimbap,” which was reintroduced last year after five years. By the end of last year, the cumulative sales of the Spicy Fish Cake Triangular Kimbap reached 500,000 units.
Additionally, a cost-effective ready meal, “Nostalgia Lunchbox,” was also launched. This surprisingly affordable series of meals, priced around half the previous cost, recorded a sales volume of 1.5 million units from 2023 through last year. Products priced below 1,000 won, such as 880 won cup noodles, 990 won snacks, milk, and vegetables, also sold more than 5 million units cumulatively during the same period. The 290 won capsule coffee introduced last month sold 1,000 units within two weeks of its launch.
CU attributes their ability to offer such low-priced products to bulk purchasing of raw materials and automation. Kim Jin-hoon, a product planner at BGF Retail’s ready meals team, stated, “We will continue to strengthen our product competitiveness by consistently introducing high-quality products at reasonable prices.”