As high inflation and a prolonged slump in domestic demand continue, more consumers are trying to cut back on dining out. Frozen foods and convenience stores are also seen as benefiting from that trend. One advantage of frozen foods is that consumers can enjoy chicken, pizza, and other items for around 10,000 won. They can also be prepared easily at home, adding convenience. Convenience store chains are also rolling out a wide range of dishes that can be enjoyed easily at reasonable prices.
The main reason behind this shift is the rising cost of eating out amid high inflation. According to the National Data Office, consumer prices rose 0.1% in June from the previous month and 3.2% from a year earlier. In particular, key ingredients used in the restaurant industry among agricultural, livestock, and fishery products jumped sharply. By item, domestic beef rose 7.5% year on year, pork 4.5%, eggs 10.3%, imported beef 6.8%, and green onions 37.1%.
Food franchise chains are now strengthening menus centered on price competitiveness to ease the burden of dining out for households. Damga Hwarogui, a specialty restaurant serving premium aged beef, is offering more than 17% off on the first order and a half-price promotion of 50% off on additional orders.
Manghyang Bibim Guksu has consistently introduced menu items in the 8,000 won to 9,000 won range since its launch, focusing on price competitiveness. Customers can also enjoy vegetable broth and white kimchi, which has helped boost satisfaction. Its ability to maintain competitive prices stems from optimized production and distribution through the Manghyang Food Factory.
University cafeterias have also become dining spaces that attract not only students but also office workers and local residents, thanks to their price competitiveness. Their appeal lies in offering a variety of menu items at low prices. Gushia Food Market is expanding university cafeteria operations by serving Korean, Western, and snack-style dishes in one place. Jang In-soo, CEO of Gushia Food Market, said, "We are presenting a wide range of menu items based on recipes from star chefs."
Price-competitive marketing is also spreading beyond the restaurant industry into software systems. Lead Planet, a company specializing in franchise store operations management, has launched LEAD SVI, a franchise AI platform that combines ultra-low cost with high performance, and unveiled an "Early Adopter" pricing plan with lower rates. A Lead Planet official said, "For headquarters that had delayed adopting franchise AI because of technical and cost barriers, we designed this so they can achieve enterprise-level intelligent franchise store management without additional hiring or major investment."
Kim Se-hyung, fax123@sportschosun.com
