September Retail Figures Show Significant Increase in Sales, Thanks to Online Shopping and Chuseok

|
1
|

Government statistics released on Monday showed that retail turnover in South Korea had surged by 9.5% in September, largely due to a rise in online purchases and the Chuseok holiday.

Data from the Ministry of Trade, Industry and Energy showed that the combined sales of 25 major offline and online retailers had reached 15.3 trillion won (US$11.2 billion) in the month, compared to 13.9 trillion won the same period last year.

Internet stores saw their turnover increase by 12%, largely driven by food and cosmetics, while offline retailers experienced a 7.2% rise in sales, largely thanks to the Chuseok celebration.

Department stores reported a 3.1% jump in sales, with food items experiencing a 35.1% rise. Supermarkets also saw their figures increase by 10%, although the demand for home appliances was hampered by inflation.

Online platforms accounted for 48.9% of total sales in September, up from 47.8% in the same period the previous year.

You might also like
Scan the code