In the era of high prices, ultra-low-priced products under 1,000 won are gaining popularity.

Prices keep rising, but wallets are getting thinner these days. Even going out to eat feels burdensome due to high prices. How are consumer choices changing in this time of inflation?

According to News1 on the 3rd, the Consumer Price Index revealed by the Statistics Korea shows that in June of this year, the Consumer Price Index rose to 2.2%, up from May's 1.9%.

In particular, the price of processed foods rose by 4.6% in June, marking the highest increase in 19 months since November 2023, and the price of dining out increased by 3.1%, adding to consumers' burdens.

While prices are rising, consumer sentiment is weakening, making ‘frugal tech’ a survival strategy.

The value of 1,000 won is gaining attention again.

In this situation, what choices are consumers making? They are turning their eyes towards ‘ultra-low-priced products.’

According to sales analysis from convenience store CU, the sales growth rate of products priced under 1,000 won jumped significantly from 10.4% in 2021 to 23.3% in 2022, coinciding with a surge in inflation.

In 2023, the growth rate was 21.1%, and in 2024 it reached 29.8%. In the first half of this year (January to July), it surged to a staggering 38.4%, approaching 40%. This indicates a dramatic increase in demand for exceptional value products as living costs rise broadly.

CU's products like 880 ramen (1.6 million units), 990 snacks (1.4 million units), 990 processed milk (4.5 million units), and 990 vegetables (500,000 units) have recorded astonishing sales figures just one year after their launch.

These products attract consumers with prices that are 30–50% lower than the market average.

In particular, CU's private brand ('PB') 'Lucky Series,' which competes to offer the lowest prices among distribution channels, has shown steady growth, with sales increasing by 886% in 2022, 170.2% in 2023, and 186% in 2024. By the end of last year, cumulative sales had surpassed 50 million units, and in the first half of this year, 30 million units were sold.

GS25, which is also expanding its ultra-low-priced product lineup, reported that sales of products priced under 1,000 won increased by 236.9% in the first half of this year (January to July).

The 980-won '1974 Milk' has sold 600,000 units since its launch in May last year, while 'Chunyang Vegetable' has sold over 500,000 units.

The 'Real Price' 500-won ice cream, launched less than a year ago, has recorded sales of a whopping 3.5 million units. Sales of the 550-won ramen (1.2 million units) and other ramen products (1 million units) are also increasing.

Seven-Eleven recently introduced a 900-won canned coffee, which is 36% cheaper than the market price. Products like 'Obaekba' (500 won) and 900-won pouch drinks have sold more than 1 million units, with sales increasing by over 60% in the first half of this year as they expand their ultra-low-priced product range.

Large discount stores are also competing with a ‘products under 1,000 won’ strategy.

Discount store E-Mart has expanded its low-margin products with minimal margins since introducing 'Price Freezing' products in 2015. The 890-won No Brand potato chips are a steady seller, selling over 200,000 units a month while maintaining the same price for ten years.

The 456-won 'One Bowl of Ramen' has become popular with over 2.5 million units sold.

Lotte Mart has also increased the number of products priced under 1,000 won to over 50 options.

The 'Today's Good' series, which is 30% cheaper than market prices, features a wide range of basic commodities, from bean sprouts and tofu to wet tissues.

In particular, 'Today's Good Wet Wipes' are so popular that they account for over 50% of total wet tissue sales. According to Lotte Mart, sales of products priced under 1,000 won increased by 30% compared to the previous year in the first half of this year (January to July).

So, how are these ultra-low-priced products possible? An industry insider told News1, "Ultra-low-priced products reduce marketing costs and utilize a 100% direct transaction system without intermediate distribution stages or minimize margins."

They continued, "With inflation, the demand for ultra-low prices is continuously soaring," and predicted, "Through collaborations with brand partners by channel, we are securing both price and product quality, which will become a momentum for future performance."

Image sources: Reference photos for the article / gettyimagesbank, Reference photos for the article / Photo = Insight, On the 29th at E-Mart Yongsan, an employee displays the PB product 'No Brand Ramen Bowl' (456 won per bag). Major discount stores and convenience stores have introduced their own brands of ramen in the 400 to 500 won range, which have gained great popularity among consumers. E-Mart's main PB ramen products are No Brand Ramen Bowl (456 won per bag) and Jajang Ramen (556 won). 2025.6.29 / News1, Lotte Mart announced on the 27th that it will launch the PB 'God Price Recommended Item' project to stabilize processed food prices starting from July this year. 'God Price Recommended Item' refers to a project that selects more than 20 major processed food products from Lotte Mart's own brands ('Cook It' and 'Today's Good') for a limited-time discount sale over three months. / News1 (Provided by Lotte Mart)