This file photo shows people shopping at a discount store in Seoul on July 18, 2023. (Yonhap)
SEOUL, July 26 (Korea Bizwire) — Retail sales in South Korea rose 5.7 percent on-year in the first half of this year amid eased antivirus curbs and people’s growing outdoor activities, the industry ministry said Wednesday.
The combined sales of 25 major offline and online retailers came to 85.4 trillion won (US$66.76 billion) during the January-June period, compared with 80.8 trillion won a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.
The increase was attributable to a low base effect as more people turned to outdoor activities amid the stabilized virus situation and the government’s lifting of antivirus restrictions this year.
In March, the government removed the mask mandate on public transportation, around two months after the removal of the mandate for most indoor spaces, in a major step toward returning to pre-pandemic normalcy.
Sales of offline retailers advanced 4.3 percent on-year to 4.29 trillion won in the first half.
Demand for food also grew, while that for electronics and housing items marked an on-year fall.
Department stores saw their sales rise 2.5 percent, and sales at discount chain stores, such as E-Mart and Lotte Mart, increased 1 percent on-year.
Convenience stores enjoyed 9.5 percent sales growth, thanks to strong demand for smaller food packages and everyday items.
The sales of smaller supermarkets also expanded 2.2 percent on-year in the first half, the data showed.
Online platforms saw their sales advance 7.2 percent to 42.53 trillion won, as online shopping for food items, cosmetics and other services has become commonplace.
Online platforms accounted for 49.8 percent of total sales in the first half, up from 49.1 percent the previous year, the ministry said.
In June alone, retail sales increased 6.6 percent on-year due mainly to a low base effect despite a recent slowdown in domestic demand, the ministry said.
Sales of offline retailers grew 4.2 percent on-year to 7.02 trillion won last month, and those of online platforms surged 9.1 percent on-year to 7.09 trillion won, it added.
(Yonhap)
