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Biz News Korea(Eng)

Soon-to-expire products gain popularity as prices rise

Collected: 2024.02.28

Distributed: 2024.02.29

Source: Go Direct

[Source: 11Street Co.]

As inflationary pressures drive prices up in South Korea, products nearing their expiration date are gaining popularity among budget-conscious consumers.

E-commerce platform 11Street Co. said on Tuesday that the number of customers purchasing soon-to-expire products through its “Shooting Delivery” service surged by 95 percent in the second half of 2023 compared to the year’s first half.

The 11Street Shooting Delivery service focuses on selling products with imminent expiration dates at discounts of up to 80 percent, whilst ensuring that these items are suitable for use and consumption despite nearing their expiration dates.

The deadline shopping trend is attributed to the desire of consumers to save on food and living expenses amid the rising cost of living. The most popular items among soon-to-expire products include frozen convenience foods such as chicken nuggets, pork cutlet, and dumplings.

By Park Chang-young and Minu Kim

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