This file photo shows visitors on vacation at Geumneung Beach in the northwest of the southern resort island of Jeju on July 30, 2023. (Yonhap)
SEOUL, Aug. 29 (Korea Bizwire) — Retail sales in South Korea rose 5.9 percent on-year in July as more people enjoyed outdoor activities for summer vacation amid eased antivirus curbs, the industry ministry said Tuesday.
The combined sales of 25 major offline and online retailers came to 14.73 trillion won (US$11.12 billion) last month, compared with 13.9 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 people increased spending on food and service fields amid the stabilized virus situation and the government’s lifting of antivirus restrictions earlier this year.
Sales of offline retailers advanced 3.9 percent on-year to 7.43 trillion won in July.
Demand for food rose 6.6 percent on-year and sales in the service sector went up 5.2 percent last month to lead the overall monthly sales of offline retailers.
Department stores saw their sales rise 2.1 percent, and sales at discount chain stores, such as E-Mart and Lotte Mart, increased 2.6 percent on-year in July.
Convenience stores enjoyed 6.6 percent sales growth, and the sales of smaller supermarkets expanded 4.6 percent on-year last month, the data showed.
Online platforms saw their sales advance 8.1 percent to 7.3 trillion won, as online shopping for food items, cosmetics and other services has become commonplace.
Online platforms accounted for 49.6 percent of total sales in July, up from 48.6 percent a year earlier, the ministry said.
(Yonhap)
