Source: HC Network

The economic downturn, the weakening of local spending power, coupled with the sharp devaluation of the national currency - if you are a Korean food business, what would you do?

If you look at some big supermarkets, you will find that there are more Korean foods and the prices are cheaper. Maybe you will buy two pieces smoothly.

That's right! This is the idea of Korean food companies - they want to open the market in China.

On the 1st, the reporter visited Changchun supermarkets and supermarkets imported food counters found that South Korea's imports of biscuits, instant noodles, etc. are down more than 10%. The cookie with the highest drop was 64 yuan, now 49.5 yuan, a decrease of 22%.

South Korean goods "fall" into the public shopping bag

The original Spanish white wine with a price of 198 yuan is now 180 yuan, and the Italian olive oil with a price of 70 yuan is now 59 yuan.

On the 1st, the reporter visited major commercial supermarkets and imported food stores and found that a variety of imported goods are affixed with price-cutting labels, accounting for more than 30% of the total merchandise.

“This sugar-free cookie has finally come down. I want to buy more.” Miss Liu, who has been living under a petty bourgeoisie, is very happy to see these foods cut prices.

Among the imported foods, Korean food is the largest drop. Biscuits, instant noodles, etc. are all reduced prices by more than 10%. The original price of a certain brand of cookies was 64 yuan, and now it was sold at 49.5 yuan, a decrease of 22%.

Reduced prices of imported foods have benefited citizens who love imported foods. The staff in the supermarket told the reporter that after the price reduction of imported foods, there were a lot of people who bought them. In recent days, Korean foods, such as popcorn and cookies, which were cut in price, had fallen “into” those that they had previously Citizen's shopping bag.

Why are imported foods reduced in price? Sales staff said that this is because the purchase price is lower than before.

Exchange Rate and Financial Crisis Double Impact

“Our store’s merchandise was cut in early November, and the renminbi appreciated against the won. Compared with the original, we used the same amount of money to purchase. Now we can buy more goods. The renminbi is worth, and this makes us pay for The amount of money is greatly reduced. Traders have a large profit margin. This part of the difference can be used to benefit consumers.” Ms. Yu, who runs a Korean food store near Guilin Road, briefed reporters. The devaluation of the won in recent months has ebbed. The People's Bank of China data shows that in July 2008, 10,000 won was equivalent to 76.02 yuan, and by November, 10,000 won was only equivalent to 51.75 yuan, a devaluation of 41.9 percent in 4 months.

According to analysis by industry insiders who import food imported from South Korea, the devaluation of the yuan by the Korean won has greatly affected the price of Korean food exports to China.

Ms. Yu, who often makes purchases in South Korea, said that due to the financial crisis, Korea’s food producers are fiercely competitive and their local spending power has weakened. Many manufacturers have focused their attention on the highly prosperous Chinese market.

Aiming at China with strong spending power

Ms. Yu not only runs Korean food stores near Guilin Road, but also has chain stores near Tongzhi Street and Nanling Community. She told reporters that in recent days, the prices of imported foods for all chain stores have generally been lowered, and there is also the possibility of price cuts. Sex.

In this regard, relevant experts analyzed that in the financial crisis, foreign companies would transfer their markets to regions with strong spending power to make up for the losses caused by the decline in domestic consumption. In the face of China’s large population and strong consumer market, South Korea will compete with each other to open up the Chinese market. This is one of the reasons why South Korea’s imported food prices have been reduced. In addition, the decline in international crude oil prices and lower transportation costs are the reasons for the price cuts in imported foods.