Per Chosun Ilbo, major hypermarkets are widening flat-price and ultra-low-price sections to court value shoppers, as high prices push consumers toward cheaper goods.

Daiso has effectively represented the ultra-cheap household market, coexisting with marts whose ranges did not overlap. But as marts enter the same space, points of competition are multiplying.

The industry sees 'price' as the strongest weapon in a consumption slump. Retailers aim to hit ultra-low prices via private brands and bulk buying to cut costs.

More choice benefits consumers, but some warn excessive price wars can strain quality and supplier margins.

For Chinese small-business owners in Korea, the low-price trend is another variable prompting a rethink of sourcing and pricing.