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sojusucks
Joined: 31 May 2008
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 Posted: Wed Dec 08, 2010 12:57 am Post subject: Lotte Mart begins to sell ultra-cheap fried chicken |
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Lotte Mart begins to sell ultra-cheap fried chicken
2010-12-08 16:14
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Giant�s move set to fuel criticism over inroads into small markets
Just a couple of months ago, Emart, Korea�s largest discount retailer, stirred up a heated controversy by launching a pizza priced at just 11,500 won, about half the average market price.
In doing so, it threatened the nearly ubiquitous mom-and-pop pizza delivery shops in residential districts.
Now, it�s time for another discount giant to try its hand at an omnipresent food item -- fried chicken.
Emart�s rival Lotte Mart said on Wednesday that its 82 stores across the nation will begin selling a fried chicken set priced at 5,000 won from Thursday. Given that chicken delivery chains sell their mainstay packages at 16,000 won apiece, Lotte Mart�s pricing of chicken is considered as aggressive as Emart�s.
Both Emart and Lotte Mart are making a big move into the small yet important segment long dominated by small retail shops, often operated by retired individuals with a small budget and few marketing tools.
Big discount stores like Emart and Lotte Mart, armed with strong marketing muscles and dozens of stores already scattered across the country, are well-equipped to sell ultra-cheap pizzas and fried chicken while maintaining a level of quality.
Lotte Mart�s fried chicken is now expected to deal a blow to cash-strapped chicken restaurants specializing in delivery services. Lotte Mart expects the yearly sales of fried chicken to reach 72 million units.
By Yang Sung-jin ([email protected])
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sojusucks
Joined: 31 May 2008
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| Posted: Wed Dec 08, 2010 1:01 am Post subject: |
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| There's plenty of room in the Korean market for another large seller of fried chicken. The other large fried chicken chains are hardly "mom and pop" operations. They will be fine. Also, some Lottemarts do sell pizza, too. |
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crsandus
Joined: 05 Oct 2004
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| Posted: Wed Dec 08, 2010 2:42 am Post subject: |
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| Didn't Lotte Mart try selling really cheap fried chicken before? I only remember poor reviews about it. Basically, you got what you paid for. |
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northway
Joined: 05 Jul 2010
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| Posted: Wed Dec 08, 2010 2:47 am Post subject: |
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| I hope they have more capacity than EMart does for pizza. Both the EMarts near me are sold out of pizza by 10:30 in the morning. |
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carleverson
Joined: 04 Dec 2009
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| Posted: Wed Dec 08, 2010 3:40 am Post subject: |
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| If the Lotte Mart chicken is hot and of good quality, I will buy from them regularly. 16,000 won for a small chicken is just too dang expensive.. |
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conrad2
Joined: 05 Nov 2009
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| Posted: Wed Dec 08, 2010 3:51 am Post subject: |
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| Good to see. Way too much collusion in the Korean retail sector. |
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sojusucks
Joined: 31 May 2008
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Capo
Joined: 09 Sep 2007
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| Posted: Wed Dec 08, 2010 5:04 am Post subject: |
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They don't deliver so it's not direct competition, but who cares even if they did. Korea seem to be against competition in their domestic market but have no quams about flooding internation markets with cheap products.
Hong Kong is the strongest economy in Asia and the reason is because of their pure market policy. |
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PEIGUY
Joined: 28 Mar 2004
Location: Omokgyo
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| Posted: Wed Dec 08, 2010 5:48 am Post subject: |
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| northway wrote: |
| I hope they have more capacity than EMart does for pizza. Both the EMarts near me are sold out of pizza by 10:30 in the morning. |
think people have resorted to ordering online if they're selling out at 10:30 in the morning..it's been a gold mine for them that's for sure |
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northway
Joined: 05 Jul 2010
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| Posted: Wed Dec 08, 2010 6:06 am Post subject: |
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| PEIGUY wrote: |
| northway wrote: |
| I hope they have more capacity than EMart does for pizza. Both the EMarts near me are sold out of pizza by 10:30 in the morning. |
think people have resorted to ordering online if they're selling out at 10:30 in the morning..it's been a gold mine for them that's for sure |
Ajummas line up at 9:00. |
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sojusucks
Joined: 31 May 2008
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| Posted: Wed Dec 08, 2010 1:54 pm Post subject: |
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Lotte Mart slashes price of chicken
December 09, 2010
Lotte Mart, one of Korea�s top three discount store chains, announced yesterday that it will slash the price of its fried chicken.
Coming just months after the explosion in popularity and subsequent controversy surrounding pizzas sold at discount store E-Mart, Lotte Mart�s low-priced chicken could renew a public debate over whether large discount stores are taking business from smaller eateries.
Lotte Mart will begin selling buckets of fried chicken for just 5,000 won ($4.37) today at 82 Lotte Mart outlets nationwide. This is a third of the cost compared to leading chicken delivery franchises such as BBQ and Kyochon, which commonly sell the same portion for up to 17,000 won.
Considering that while �whole� fried chickens at local franchises usually weigh around 750 grams (26.46 ounces) while Lotte Mart�s chickens weigh 900 grams, Lotte Mart touted its chicken as having better value than the competition. The price will remain constant for the rest of the year, Lotte Mart said.
E-Mart, the largest discount store chain in Korea, began baking and selling pizzas with a diameter of 44 centimeters (17.32 inches) for just 11,500 won in August.
The pizzas have become so popular that customers at some locations wait for hours just to buy one. Pizza franchises sell similar-sized pizzas for more than 30,000 won.
Chung Yong-jin, the vice chairman of Shinsegae Group, which owns E-Mart, made headlines when he traded jabs in Twitter over the issue.
The issue seems poised to be revived for fried chicken.
�Conglomerates should be held back from entering such business areas,� said Kim Min-chang of the Korea Federation of Small and Medium Business, the largest association of small- and mid-sized enterprises in the country.
�You have to understand that among people that lost their jobs or retired during the Asian financial crisis [of the late 1990s], a large number entered pizza and chicken delivery businesses.
�I believe large corporations should be conscientious of that and restrain themselves,� said Kim.
Lotte Mart, however, asks customers to vote with their feet.
�There were recent media reports on the Fair Trade Commission investigating the possibility of price-fixing by chicken franchises,� said Jeong Won-heon, a PR representative of Lotte Mart.
�And the consensus among consumers appears to be that 15,000 won for one fried chicken is too expensive,� Jeong added.
By Lee Jung-yoon [[email protected]]
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http://joongangdaily.joins.com/article/view.asp?aid=2929409 |
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sojusucks
Joined: 31 May 2008
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| Posted: Wed Dec 08, 2010 1:56 pm Post subject: |
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E-Mart, the largest discount store chain in Korea, began baking and selling pizzas with a diameter of 44 centimeters (17.32 inches) for just 11,500 won in August.
The pizzas have become so popular that customers at some locations wait for hours just to buy one. Pizza franchises sell similar-sized pizzas for more than 30,000 won.
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Hopefully LotteMart will have plenty of fried chicken ready to go. We need fried chicken! |
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AsiaESLbound
Joined: 07 Jan 2010
Location: Truck Stop Missouri
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| Posted: Wed Dec 08, 2010 3:11 pm Post subject: |
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| I got their sale paper yesterday. It's 5,000 won for a box 18cmX13cmX10cm. That's a small snack lunch box. It's 7 inches X 5 inches X 4 inches. I'd get it for lunch some days if Lotte was conveniently located to me. |
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PEIGUY
Joined: 28 Mar 2004
Location: Omokgyo
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| Posted: Wed Dec 08, 2010 4:17 pm Post subject: |
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| northway wrote: |
| PEIGUY wrote: |
| northway wrote: |
| I hope they have more capacity than EMart does for pizza. Both the EMarts near me are sold out of pizza by 10:30 in the morning. |
think people have resorted to ordering online if they're selling out at 10:30 in the morning..it's been a gold mine for them that's for sure |
Ajummas line up at 9:00. |
I went one time just before opening time to buy something else figuring it'd be the best way to avoid the crowds that always seem to plague these places. To my surprise at least 50 people were lined up waiting to get in and when they opened they all stampeded towards the escalator. It looked like the running with the bulls. I thought maybe a big sale was going on so after I picked up the item I needed I walked around and almost every one was lined up at the pizza counter. At that point I just shook my head and walked away.
I can understand why Lotte is getting in on the act, maybe they'll start selling pizza too in the near future. |
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Chalmers
Joined: 20 Oct 2008
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| Posted: Wed Dec 08, 2010 4:21 pm Post subject: |
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| alert the press! |
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