Convenience store GS25 announced on the 19th that its 'Real Price' product, which has been developed since January last year as a price stability item, has grown into a mega brand, achieving sales of 50 billion won after about a year since its launch.
Real Price is the price-oriented private brand of GS Retail, the operator of GS25. It sells products at prices 20% to 30% cheaper than national brand products through collaboration with excellent manufacturers that have price competitiveness.
According to GS25, Real Price is gaining popularity by expanding its lineup centered on grocery shopping and daily necessities. The Real Price products, which started with six items at launch, have increased to more than 50 types, including eggs, milk, ramen, seaweed, rice, tofu, and bean sprouts. Fresh eggs (15 count) and 1974 milk 900 ml (2 count) each generated sales of over 5 billion won.
GS25 has already completed planning for 13 new Real Price products to be launched in the first quarter of this year and aims to expand the lineup to over 100 types by the end of the year. Real Price will launch two types of refrigerated noodles, including Wando seaweed udon and anchovy kalguksu, as the first new lineup of the year on the 23rd. The prices are 50% cheaper compared to existing refrigerated noodles.
Lee Min-jae, a merchandise director for the refrigerated and frozen team at GS Retail, said, "We are introducing products that have passed high standards in terms of price, quality, and taste under the Real Price brand," and noted, "We have devoted our development capabilities for four months to launch the two refrigerated noodles as the first lineup of the year."