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S. Korea's retail sales record double-digit growth in October

Xinhua, November 29, 2016 Adjust font size:

Retail sales in South Korea rose in October as online purchase posted a double-digit growth, a government report showed on Tuesday.

Combined revenue in offline and online retail stores increased 8.4 percent in October from a year earlier, according to the Ministry of Trade, Industry and Energy (MOTIE).

Sales on the Internet led the increase, with revenue in online retail outlets jumping 13.2 percent. Demand for clothing was strong ahead of the winter season, with sales of clothing in the online market surging 69.7 percent.

Sales of household items and furniture through social commerce advanced 20.7 percent, helping the cyberspace transactions rise in October.

Offline retail sales expanded 6.3 percent in the cited period, with revenue in convenient stores surging 15.5 percent. Sales in department stores and discount stores grew 6 percent and 0.9 percent respectively.

Convenient store revenue has continued to grow recently as rising single-person households increased purchase of food and beverages at the mini malls. Endit