Heat Wave Boosts Department Store Sales in S. Korea | Be Korea-savvy

Heat Wave Boosts Department Store Sales in S. Korea

(image: Shinsegae Department Store)

(image: Shinsegae Department Store)

SEOUL, Aug. 30 (Korea Bizwire)Sweltering heat affecting South Korea has boosted the sales of local department stores this summer as people have flocked to air-conditioned malls to get relief, industry sources said Thursday.

According to retail sector data, revenues from restaurants inside Lotte Department Store jumped 10.6 percent on-year between July 16 and Aug. 22 when the mercury sharply rose.

Shinsegae Department Store also saw its revenue in July surge 8.4 percent compared with the same period a year earlier, with designer brands and home appliances, among others, showing brisk sales growth of 19.7 percent on-year and 18.9 percent on-year, respectively, it said.

Hyundai Department Store also reported sales for the period of July 11-Aug. 8 advancing 7.9 percent on-year. The number of customers also increased 7.3 percent on-year during the same period.

Record high temperatures gripped most parts of South Korea this summer. On Aug. 1, the country sizzled to its highest recorded temperature of 40.7 C, with the numbers for Seoul reaching the highest since record keeping began 111 years ago.


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