- Both online and offline retail sales grow in November 2019-12-27
The Ministry of Trade, Industry and Energy announced on December 25 that Korea’s overall retail sales in November grew 7.5 percent from a year earlier. This rise was a result of increases in sales at both online and offline retailers partly due to this year’s Korea Sales Festa that was held last month. The nation’s largest annual shopping festival provides discount benefits to consumers.
The analysis was based on surveys of 26 major retailers. Half of them are offline retailers: three department store chains, three hypermarket chains, three convenience store chains, and four super supermarket (SSM) operators. The other half are online retailers: nine major online sellers and four online shopping intermediaries.
The brick-and-mortar retailers saw a year-on-year sales increase of 2.4 percent as sales improved at all types except for SSMs.
Sales at the convenience stores expanded 4.6 percent thanks to instant foods that were on sales promotion. Over-the-counter medicines also attracted more shoppers.
The department stores experienced a sales growth of 3.1 percent. Seasonal clearance sales created higher demand for global brands (up 22.4 percent) and household goods (up 18.3 percent).
Sales at the hypermarkets inched up 0.8 percent on the back of home appliances (up 1.1 percent) and food (up 2.0 percent).
Sales at the SSMs, on the other hand, fell 3.3 percent partly affected by more promotional activities conducted at hypermarkets. SSMs feature similar categories to hypermarkets.
For the web-based retailers, overall sales posted a double-digit growth of 14.8 percent with both online sellers and online intermediaries enjoying sales increases.
Sales at the online sellers gained 13.7 percent largely due to greater sales of home appliances (up 15.4 percent) and services (up 37.7 percent).
The online intermediaries witnessed a sales growth of 15.2 percent with sales of food and household goods rising 38.9 percent and 16.6 percent, respectively.