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Retail sales up 6.9 pct in Sept. from Chuseok holiday

All Headlines 11:00 October 30, 2018

SEJONG, Oct. 30 (Yonhap) -- South Korea's retail sales increased in September from a year earlier thanks to robust sales during the Chuseok holiday season, government data showed Tuesday.

The combined sales of 26 major offline and online retailers reached 11.03 trillion won (US$9.65 billion) last month, up 6.9 percent from a year earlier, the Ministry of Trade, Industry and Energy said.

Sales of 13 offline-based retailers rose 6 percent over the period as discount chains and department stores posted a strong performance with promotional events for the Chuseok holiday, which fell from Sept. 24-26 this year.

Sales of 13 major online stores and market places advanced 8.6 percent on-year last month. The growth was the slowest since October 2017, as parcel delivery slowed during the holiday season.

Online malls reported a 6.9 percent surge in sales as more people opted to do their grocery shopping online, thereby allowing them to receive fast delivery service.

Online marketplaces, where products and service information is provided by multiple third parties, reported a 9.4 percent growth in sales thanks to strong demand in electronics and IT products.

Shoppers look at vegetables at a discount store in Seoul on Oct. 23, 2018. (Yonhap)


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