Meal kits at convenience stores gain popularity amid high inflation

Meal kits displayed at a Emart24 store in Seoul. [Photo by Yonhap]

Meal kits sold at convenience stores in South Korea are gaining huge popularity among the consumers as they perceive purchasing the kits that contain small portions of ingredients is more affordable than buying each ingredient separately.

According to Emart24 Inc., the convenience store chain owned by retail giant Emart Inc., on Monday, sales of meal kits soared 585 percent in the first six months of this year from the same period a year ago.

Last month, meal kit sales were six times higher from the same month last year.

In particular, the convenience store saw meal kit reservations and orders through mobile applications increase by 2.7 times in July compared to January.

Consumers in their 40s accounted for the largest share of 41 percent, followed by those in their 30s (30 percent) and 50s (15 percent).

Emart24 has been operating a reservation and pickup service for meal kits through booklets and its application, with an aim to increase online and offline accessibility for consumers.

The operations have made it easier for consumers to check inventory and make reservations, while also reducing inventory burden for business owners, according to Emart 24.

Emart 24 found that consumers who purchased meal kits at offline stores also frequently bought instant rice, instant noodles, and alcoholic beverages such as soju and beer. These items were among the top 5 purchased items by frequency.

Meal kit sales were widely expected to see a decline in demand once social distancing and other Covid-19 measures are eased.

However, high inflation has contributed to the continued popularity of meal kits. Buying only the necessary amount of ingredients, as opposed to purchasing in bulk, has become more cost-effective, especially for single or two-member households.