This file photo taken March 20, 2023, shows a department store in Seoul crowded with customers. (Yonhap)
SEOUL, March 28 (Korea Bizwire) — Retail sales in South Korea grew 7.9 percent on-year in February on rising demand for fashion, tourism and other items as people increasingly adapted to post-pandemic life amid eased antivirus restrictions, the industry ministry said Tuesday.
The combined sales of 25 major offline and online retailers came to 13.1 trillion won (US$10.1 billion) last month, compared with 12.1 trillion won a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.
The overall on-year growth came on weak retail sales a year earlier because of fewer business days over the Lunar New Year’s holiday, as well as another wave of the COVID-19 pandemic sparked by the fast-spreading omicron variant at that time.
Sales of offline retailers jumped 8 percent on-year to 6.33 trillion won last month, as demand for fashion items as well as goods for children and sporting rose 16.2 percent and 17.4 percent, respectively.
Sales of food also advanced 11.7 percent on-year in February.
But sales of electronics at offline shops fell 19.4 percent from a year earlier, the data showed.
Department stores saw their sales rise 8.6 percent on rising demand for clothing and fashion items.
Sales at discount chain stores, such as E-mart and Lotte Mart, also increased 5.8 percent on-year, and smaller supermarkets saw their sales rise 3.2 percent.
Convenience stores enjoyed 10.2 percent sales growth thanks to strong demand for smaller food packages and everyday items, the ministry said.
Online platforms also saw their sales advance 7.8 percent on-year to 6.74 trillion won in February.
Among other categories, sales of tourism and other services surged 19.8 percent on-year, and demand for foodstuffs and fashion items rose 13.6 percent and 11.8 percent, respectively.
Online platforms accounted for 51.6 percent of total sales in February, according to the ministry.
(Yonhap)
