Online malls lead South Korea retail growth

South Korea retail sales inched up 0.7 per cent year on year last month with online malls outshining brick-and-mortar stores, government data shows.

Sales for 13 online stores and marketplaces jumped 21.6 per cent, according to the Ministry of Trade, Industry and Energy, which did not disclose sales figures.

At the same time, sales for 13 offline retailers, including department stores and discount chains, fell 9.2 per cent. Convenience stores were the only bright spot, posting 9.8 per cent growth.

Online malls saw sales soar 25.5 per cent, attributed to people being attracted by online grocery shopping offering fast delivery service.

Online marketplaces also surged 20.4 per cent, with an increase in third-party sellers in the electronic and home-appliance sectors.