Retailer says its prices are unbeatable

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Retailer says its prices are unbeatable

Homeplus, the country’s second-largest discount chain, unveiled a new promotion yesterday offering the lowest prices in Korea, it said.

The campaign will continue its efforts to slash the prices of necessities until early next year, according to the nation’s No.2 discount chain.

The campaign was organized by Homeplus six months ago based on an investment of 40 billion won ($35 million) to ease the burden on households amid soaring inflation, it added.

The retailer will start by slashing the prices of vegetables, including radishes and cabbages, and fish such as mackerel to match the lowest retail prices in the country every week, it announced.

It said it will simplify the chain of distribution by dealing directly with farmers and minimize retail margins and prices to facilitate the move.

Some bulk products will also be available at wholesale prices at 87 of its stores nationwide, up from 65 at present.

Additionally, sales will now run for four weeks instead of just one.

“The campaign aims to help consumers amid the ongoing recession and period of deteriorating crops [which drive up prices],” said Ahn Hee-man, the chain’s vice chairman of marketing.

By Kim Jung-yoon [ ]

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