Retail sales up 8.2% in September thanks to “revenge shopping” during pandemic


This file photo taken on Sunday shows people in a shopping mall in Seoul. (Yonhap)

Retail sales in South Korea jumped 8.2% in September from a year earlier, data showed Thursday, as consumers turned to ‘revenge shopping’ amid protracted pandemic virus.

The combined sales of 25 major offline and online retailers reached 13.2 trillion won ($ 11.26 billion) last month, up from 11.9 trillion won a year earlier, according to data compiled by the Ministry of Trade, Industry and Energy.

Offline store sales grew 3.3% year-on-year in September, with online retail platforms recording a 14.5% year-on-year sales increase, the data showed.

Department stores saw sales jump 24.3% as people bought more household appliances and luxury items.

Sales of imported luxury goods have risen sharply amid the novel coronavirus due to so-called revenge shopping, which refers to consumers seeking convenience in purchasing goods while socializing and traveling. are limited.

Convenience stores saw sales increase 9%, while those of discount chain stores and small supermarkets fell 13.3% and 16.1% respectively, according to the data.

Sales of groceries and cosmetics on these platforms increased by 17.1% and 19.9%, respectively, and the service sector, which includes food delivery, saw its sales increase by 44.9%. %, he showed. (Yonhap)


Comments are closed.