Duty-free shops suffer sharp drop in sales amid coronavirus outbreak
SEOUL, April 28 (Yonhap) -- South Korean duty-free stores saw their sales drop sharply in March due to the spread of the new coronavirus, industry data showed Tuesday.
Combined sales of local duty-free shops shrank 1.3 percent on-month to 1.8 trillion won (US$1.5 billion) last month, according to the data from the Korea Duty Free Shops Association. The number is down 46.2 percent from January, the data showed.
The number of visitors at duty-free outlets came to 587,879 last month, also down from 1.75 million in February, with foreigners accounting for 45 percent of the total.
Industry sources voiced concerns that duty-free shops may see their sales shrink in April, given flight suspensions and travel bans across the globe.
"Duty-free shops are expected to take a harder hit in April as entrants are under mandatory self-isolation measures, coupled with flight suspensions," said an official of the local duty-free shop who asked not to be named.
Sales of duty-free shops have been hurt by the fast spread of COVID-19 since late January, which has made it impossible for small-scale Chinese vendors, their major customers, to visit South Korea.
Those Chinese vendors sell their duty-free purchases in large quantities, mostly cosmetic products, to consumers back home.
khj@yna.co.kr
(END)
-
Ateez to drop new Japanese EP next week
-
S. Korea to resume issuing short-term travel visas, e-visas next month
-
Gov't to significantly increase international flights to meet travel demand
-
(2nd LD) BTS wins three Billboard Music Awards, marking 6th year to win an award
-
Crypto investor probed over allegedly visiting house of Terraform's CEO
-
S. Korea to send condolence delegation to UAE over death of president
-
(LEAD) Yoon, PPP lawmakers travel to Gwangju en masse to commemorate 1980 democracy uprising
-
(URGENT) N. Korea says fever symptoms reported among more than 18,000 people Thursday alone amid COVID-19 outbreak
-
(LEAD) Presidential secretary resigns amid controversy over remarks on homosexuality
-
(3rd LD) N. Korea reports 6 COVID-19 deaths amid 'explosive' spread of fever
-
S. Korea to resume issuing short-term travel visas, e-visas next month
-
(LEAD) At least 8 injured in S-Oil refinery explosion in Ulsan: firefighters
-
(3rd LD) N. Korean missile or nuclear test very possible during Biden's Asia trip: Sullivan
-
At least 4 injured in S-Oil refinery explosion in Ulsan: firefighters
-
(2nd LD) S. Korea, U.S. have 'plan B' ready in case of N.K. provocation during Biden's visit