South Korean convenience stores see PB sales surge amid inflation

South Korean convenience store chains are seeing significant growth in private brand (PB) sales as consumers seek affordable alternatives amid high inflation. Major retailers including GS25, CU, Seven-Eleven, and Emart24 have all reported double-digit increases in PB product revenue.

GS25’s ‘Real Price’ brand led the surge with a 40% increase in sales during the first half of the year. The brand focuses on daily necessities and groceries that are approximately 50% cheaper than manufacturer brands. Popular items include protein bars and low-cost vegetables, with sales of products priced under 1,000 won rising by 12.3%.

CU reported an 18.6% increase in PB sales, while Seven-Eleven saw a 14% rise. Emart24’s private label, ‘Yellow,’ grew its product lineup significantly, expanding from 13 to 116 items. These brands are utilizing PB products not only to reduce consumer price burdens but also as a strategy to attract customers through unique, trend-driven items such as specialized desserts and essential hygiene products.