Big discount stores cut prices of everyday goods amid increasing inflationary pressure


The country’s two largest discount store chains are making moves to cut prices of daily goods for up to one year amid the government’s effort to curb inflationary pressure.

Homeplus said Thursday that it is offering an average of 13 percent discount ― ranging from 5 to 50 percent ― on 400 different everyday goods at its 126 chain stores and internet shopping sites until February next year. The discounted items include tofu, milk, noodles, coffee, flour, red pepper paste, tooth paste and women’s sanitary pads, officials said.

The company also said it will offer a 50 percent discount on homegrown beef and fish for five weeks until April 4.

The move comes a day after E-Mart announced its plan to freeze the prices of the discount chain’s everyday goods for a year.

The discount store chain said on Wednesday it will freeze the prices of 14 products such as E-Mart milk, Kelloggs Corn Frost and Ottogi spaghetti sauce as well as other items like flour.

It also said the prices of 17 other items, including coffee, red pepper paste and Korean noodles, will be cut by up to 50 percent for the next three months.

“We picked consumer-favored products that are likely to see price hikes and purchased them in massive numbers following negotiation with our partners while decreasing our margin,” said an E-Mart official.

Lotte Mart, another big retailer here, said that it is not officially announcing its participation in the discounting of everyday goods but added that it is carrying on its sale on the “Tongkeun” series throughout the year. The “Tongkeun” series includes tofu, processed food as well as home appliances, its official said.

“Instead of taking part in a one-time event, we decided to feature products we think are valuable and price competitive at our own time,” said a Lotte Mart official.

By Cho Ji-hyun (sharon@heraldcorp.com)