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Retail Sales Up 8.2 pct in September on ‘Revenge Shopping’ amid Pandemic

Retail Sales Up 8.2 pct in September on ‘Revenge Shopping’ amid Pandemic

SEOUL, Oct. 28 (Korea Bizwire) — Retail sales in South Korea surged 8.2 percent in September from a year earlier, data showed Thursday, as consumers turned to “revenge shopping” amid the prolonged virus pandemic. The combined sales of 25 major offline and online retailers reached 13.2 trillion won (US$11.26 billion) last month, compared with 11.9 [...]

Local Supermarkets Struggle While Department Stores Enjoy Revenge Consumption

Local Supermarkets Struggle While Department Stores Enjoy Revenge Consumption

SEOUL, Aug. 2 (Korea Bizwire) — Department stores and shopping malls are seeing a sales recovery following this year’s so-called ‘revenge spending’ trend, but local supermarkets are still struggling to stay afloat. The Korea Small Business Institute (KOSBI) and Statistics Korea reported 43.8 trillion won (US$38.1 billion) in retail sales in May, with department store [...]

Demand for Logistics Warehouses Up, Large-scale Stores Down in COVID-19 Era

Demand for Logistics Warehouses Up, Large-scale Stores Down in COVID-19 Era

SEOUL, March 10 (Korea Bizwire) — In the midst of the rapid growth of the e-commerce market resulting from the COVID-19 pandemic, the demand for logistics warehouses that are needed for storing, loading, unloading and sorting cargo is growing at a healthy pace. The online real estate information provider Real Estate 114 analyzed the cases [...]