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Retail sales jump 7.2% on fast e-commerce growth in June 2017-07-28
The Ministry of Trade, Industry and Energy announced on July 28 that retail sales jumped 7.2 percent in June, led by the fast growth of e-commerce.
 
Online retail sales, which account for about a third of the total retail sales, jumped 13.6 percent year-on-year in June as various promotions by retailers helped drive up food and clothing sales. Revenues generated from physical stores rose by 4.2 percent on higher grocery prices. 
 
In the first half of 2017, retail sales advanced 6 percent from a year earlier with web-based sales surging 13.1 percent and in-store revenues increasing 2.9 percent. 
 
The Ministry of Trade, Industry and Energy estimates monthly retail sales by compiling data from 26 major retailers -- 13 in-store retailers including department stores, hypermarkets, convenient stores, and “super supermarkets (SSMs)” -- as well as 13 online retailers including major online sellers and online sales intermediaries. Super supermarkets are supermarkets owned by large retailers, while online sales intermediaries are retailers operating between buyers and sellers. 
 
A breakdown of online revenues in June showed that revenues of online sellers soared 33 percent with the sales in the electronics and food categories leaping 51.1 percent and 46.8 percent, respectively. Revenues of online sales intermediaries expanded 7.3 percent as food sales soared 21.7 percent and promotions helped boost cosmetics sales by 21.7 percent. 
 
All four types of in-store retailers also posted growths in sales. Revenues of convenient store chains jumped 10.9 percent with the number of stores growing 14.6 percent and food revenues surging 16 percent.
 
Sales of SSMs increased 3 percent on higher prices of vegetables and eggs and more consumption of meat, while larger demand for seasonal fruits amid warn weather helped boost revenues of hypermarkets by 2.3 percent. Sales of department stores inched up 1.3 percent as discount promotions contributed to a 13.2-percent growth in revenues from household goods.
 
Throughout the first six months of 2017, web-based sales grew at a double-digit rate as consumers prefer to shop online for convenience and usability. For brick-and-mortar sales, convenient stores posted strong performances, but this was offset by slow growths of other types of retailers. 
 
Revenues of online sellers soared 25.1 percent as promotions helped boost food and clothing sales by 29.1 percent and 28.4 percent, respectively. Sales of online sales intermediaries expanded 8.8 percent.
 
Convenient stores recorded an 11.4-percent increase in revenues thanks to the growth of one-person households that drove up food sales. The number of stores also rose by 12.8 percent. 
 
Sales of SSMs advanced 1.5 percent with a 2.7-percent growth in food revenues that represent nearly 90 percent of the total sales. Revenues of department stores climbed up 0.9 percent on larger demand for home appliances, while those of hypermarkets stayed nearly unchanged.   
 
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