S. Korea's retail sales grow in August-Xinhua

S. Korea's retail sales grow in August

Source: Xinhua

Editor: huaxia

2024-09-24 14:33:00

SEOUL, Sept. 24 (Xinhua) -- South Korea's retail sales kept growing last month due to solid online demand for food and daily necessities, government data showed Tuesday.

The combined revenue among major offline and online retailers advanced 9.2 percent in August from a year earlier, faster than an increase of 6.3 percent in the previous month, according to the Ministry of Trade, Industry and Energy.

Revenue for online retailers jumped 13.9 percent last month, maintaining a double-digit growth for the 12th straight month since September last year.

Sales by offline retailers gained 5.0 percent in August on a yearly basis after reducing 3.0 percent in July.

Food demand in cyberspace soared 19.8 percent, and online sales of daily necessities expanded 10.8 percent.

Online demand for service, including travel, food delivery and e-coupon purchase, spiked 60.4 percent, while sales of home appliances, clothes and sports items in cyberspace declined in single digits.

Offline demand for food, daily necessities, service, clothes and sports items grew in single figures.

Revenue for discount outlets, department stores, and convenience stores gained ground last month.