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Retail sales up 4.1 pct in Oct.

Retail/Tourism 11:00 November 28, 2019

SEOUL, Nov. 28 (Yonhap) -- Retail sales in South Korea moved up 4.1 percent in October from a year earlier on the back of rising demand for overnight delivery services from online malls, data showed Thursday.

The combined sales of 26 major offline and online retailers reached 11.9 trillion won (US$10 billion) last month, compared with 10.75 trillion won a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.

Local online stores and marketplaces enjoyed growth of 12.5 percent amid a rising number of consumers purchasing fresh goods using overnight shipping services, the ministry said.

Consumers buying travel packages online also contributed to the third consecutive month of two-digit growth, it added.

In contrast, 13 offline retailers, including department stores and discount chains, saw their sales decrease 1.1 percent as they sold fewer winter outfits amid warm weather conditions.

Convenience stores were the only winners among offline stores, enjoying a 5.4 percent rise in sales due to greater pharmaceutical and coffee sales.


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