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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 [...]