Inflation hits the lunch time
According to the World Bank, the agricultural price index was up 42% compared to January in 2021. War-induced food price inflation is effecting on the cost of people’s mid-day meals. In South Korea, Average cost of people spent for lunch in 2022 was 10,687 KRW(Approx. 8.5 USD) which is 24.4% higher than 2020[8,588 KRW(Approx 7.5 USD)].
Due to this phenomenon, the sales of LocknLock’s lunchbox series has been reached all time high in April. LocknLock concluded reasons of this increase as price pressure for lunch, and eating out as the pandemic is declined.
LocknLock Container Development team expended more line up such as To-Go series and other lunchbox series due to the demand from the market. They are planning to renewal old lunchbox models with new shape and colors.
Marketing representative from Overseas Sales Division, said “Unfortunately, this inflation doesn’t seem short-term phenomenon. People had to find the way to save their costs of meal. Preparing lunchbox will be the one of the way, we think.”