Coupang announces 9-cent sanitary pads after S. Korea’s Lee calls out high prices in market
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South Korean President Lee Jae Myung pointed out limited consumer choices in the market of sanitary products.
PHOTO ILLUSTRATION: UNSPLASH
SEOUL – Just over a week after South Korean President Lee Jae Myung asked why low-priced sanitary pad prices were not available in South Korea, Coupang announced on Jan 29 the roll-out of a 99-won (nine Singapore cents) product.
During a Cabinet meeting on Jan 20, Mr Lee pointed out limited consumer choices in the market of sanitary products, saying: “Sanitary pads in our country appear to be nearly 40 per cent more expensive than those overseas. Shouldn’t cheaper options also be made and sold for lower-income households? Why aren’t basic-quality, affordable pads being produced?”
He went on to criticise companies for “overcharging under the pretext of being premium” and argued that consumers should be given opportunities to purchase lower-priced, standardised products.
While the remarks prompted movement across the industry, the first to act was Coupang, the US-listed online retailer whose recent consumer data leak has resulted in local public scrutiny
The embattled retailer said its private brand, CPLB, will offer their sanitary pads, LunaMEE, at as low as 99 won per unit starting Feb 1.
Under the planned price reduction, a four-pack of 18 mid-size LunaMEE pads previously sold for 9,390 won will be priced at 7,120 won, representing a roughly 24 per cent decrease.
Mid- to large-size sanitary pads from other brands currently sold online start at around the high-100 won range per unit, with average prices typically between 200 and 300 won. CPLB products, sold exclusively on Coupang, were already in the low-cost category, priced at roughly 120 to 150 won per pad.
Other manufacturers have also moved to expand lower-priced offerings.
On Jan 26, Yuhan-Kimberly announced plans to expand its supply of cheaper sanitary pad products, while LG Uni-Charm said it will introduce new products at half the price of its premium line in March. Kleannara made similar announcements the same day. THE KOREA HERALD/ASIA NEWS NETWORK
