S. Korea Posts 7.7 Percent Surge in September Retail Sales
(MENAFN) South Korea’s retail sector saw a notable rebound last month, driven by robust online purchases of food, daily necessities, and services, according to government data released Wednesday.
The Ministry of Trade, Industry and Energy reported that combined sales from major offline and online retailers rose 7.7 percent in September compared with a year earlier, outpacing August’s 3.7 percent gain.
Online retail revenue surged 16.5 percent in the month, while offline store sales continued to decline, slipping 1.0 percent after a 3.1 percent drop in August.
“Food demand in cyberspace spiked 26.0 percent, and online sales of daily necessities expanded 11.6 percent,” the report highlighted.
Service-related online spending, including travel bookings, food delivery, and e-coupon purchases, climbed 16.1 percent. Sales of home appliances and cosmetics also posted double-digit growth online.
In contrast, offline demand for home appliances fell sharply, while brick-and-mortar sales of clothing, sports items, food, and daily necessities each recorded single-digit declines.
Revenue at discount outlets retreated 11.7 percent, although department and convenience stores managed to post modest single-digit gains.
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