(C) Lotte Mart

SEOUL — Lotte Mart has announced a special discount event for imported fruits, offering significant savings on popular items like cherries, blueberries, bananas, and pineapples, effective from December 18. This promotional push is a strategic response to the current high-exchange-rate, high-inflation environment, aiming to alleviate the financial burden on consumers seeking high-quality foreign produce.

Deep Discounts on Berry Favorites

The cornerstone of the "Imported Fruit Special Discount Exhibition" centers on Chilean cherries and blueberries, two of the retailer's highest-selling imported fruit categories.

Chilean Cherries and Blueberries: From December 18 to December 21, the "A Full Load of Cherries" (450g, Chilean) and "A Full Load of Blueberries" (400g, Chilean) will be priced at a sharp $9,990 KRW each.
Blueberry Volume: To support this large-scale promotion, Lotte Mart has secured a massive volume of blueberries, amounting to 15 tons.
Cherry Freshness and Value: The cherries being sold are of the common XL size circulated in Chile. Although slightly smaller than the Jumbo (J) size typically sold in Korea, the pricing offers approximately a 20% reduction in the price per 100g, providing substantial value. Crucially, this entire batch of cherries has been shipped directly by air freight, ensuring exceptional freshness and quality upon arrival.

Savings Extend to Tropical Staples

The promotional period for tropical fruits extends longer, offering steady deals for shoppers stocking up on everyday items.

Highland Bananas: From December 18 to December 24, "Highland Bananas" will be available for $3,990 KRW.
Cut Pineapples: During the same period, "Cut Pineapples" are set at $4,990 KRW. Lotte Mart has aggressively expanded its direct sourcing strategy for these tropical treats, particularly for the high-demand Philippine Gold Pineapples. By increasing the direct sourcing volume by 40% compared to the previous year, the retailer has successfully driven the retail price down by 30%.

Strategic Response to Economic Headwinds

The initiative reflects Lotte Mart's commitment to consumer affordability during a period of rising global commodity costs and a challenging foreign exchange rate.

Kim Min-kyung, MD (Merchandiser) for the Fruit Team at Lotte Mart & Super, emphasized the underlying strategy: "We have prepared this discount event so that customers can purchase imported fruits without feeling the burden, even during this time of high exchange rates and high inflation."

Ms. Kim further elaborated on the retailer's future plans: "We will continue to strengthen our capabilities in direct sourcing and advance planning to consistently provide high-quality imported fruits at reasonable prices. Our goal is to stabilize consumer prices and enhance the shopping experience by offering fresh, sought-after international produce at accessible price points."

The supermarket chain’s increased focus on direct sourcing—cutting out intermediary costs—is a key mechanism allowing them to pass savings directly to the consumer, demonstrating a proactive approach to managing supply chain efficiencies and maintaining price competitiveness in the volatile retail market. The upcoming "Imported Fruit Special Discount Exhibition" is thus not just a sales event but a strategic move by Lotte Mart to solidify its position as a value leader in the fresh produce segment.

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