Wide price difference found for same setsSome Chuseok holiday gift sets can vary in price by as much as 70 percent, according to the Korea Consumer Agency.
A report issued on Wednesday shows prices are substantially different depending on where consumers buy their gift sets.
Department stores are the most expensive outlets, while hypermarkets and online open markets, such as 11th Street, G-Market and Auction, offer the best deals.
A price comparison provided by the consumer agency showed the same gift sets, comprising exactly the same products, can vary in price by as much as 70 percent.
“ReEn No. 3,” a hair product gift set from LG Household & Health Care, is sold at 49,900 won ($42) in department stores and hypermarkets, whereas online markets are selling the same item for 28,567 won, which is cheaper by 21,333 won, or 74.7 percent lower. “Hope No. 2,” a gift set of the same category from AeKyung is also 5,800 won, or 71.6 percent cheaper, in open markets compared to its price of 13,900 won in department stores and hypermarkets.
In the processed food category, a premium Chinese yam set from CJ CheilJedang, “Chungjungone Woorifarm No. 5” produced by Daesang Corporation and “CJ Spam No. 8” show the largest price gap. “Chungjungone Woorifarm No. 5” is sold at 34,900 won in department stores, 33,800 won in hypermarkets and 25,390 won in online markets. The price difference between the highest and lowest price is 9,510 won.
For the liquor category, department stores and hypermarkets were compared since selling liquor online is illegal in Korea. The result proved the same trend. “Chivas Regal 12-Year-Old” is sold at 24,667 won in the hypermarket, 16,860 won lower than its price of 41,527 won at the department store. “Johnnie Walker Black” was 44,644 won in department stores and 7,411 won (16.6 percent) cheaper in hypermarkets. “Royal Salute 21-Year-Old” was 217,763 won in department stores and 31,358 won (14.4 percent) cheaper in hypermarkets.
BY LEE SO-AH, KIM JEE-HEE [firstname.lastname@example.org]
More in Industry
Buffet restaurants adapt to pandemic by nixing the buffets
Sale of Doosan Infracore stake could be opportunity for Hyundai Heavy
Volvo XC60 ranks No. 1 for residual value in Encar study
Binggrae to scoop up ice cream competitor after FTC approves merger
LG accepting orders for rollable, $85K television