Holiday boosts South Korean retail sales

A government report has shown a rise in South Korean retail sales of food during the Chuseok holiday. The holiday, likened to the Korean version of Thanksgiving, is thought to have sparked a 6.9 per cent spike in combined revenue for major online and offline retailers during September, compared with last year’s figures for the same period.

Total online sales grew 8.6 per cent, with 6 per cent growth in offline sales during the holiday period.

Ahead of the holiday, discount chain food sales increased by 8.1 per cent; department store food sales rose 4.7 per cent, and convenience stores saw 5.1 per cent increases in demand for imported beers and lunch boxes.