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S. Korea’s retail sales rise 6.5 pct in Nov.

By Mei Ling Tan
1 min read
S. Korea’s retail sales rise 6.5 pct in Nov.
S. Korea’s retail sales rise 6.5 pct in Nov.

Sales of major South Korean retailers including department stores and Internet shopping malls rose in November from a year earlier on brisk online purchases, government data showed Thursday.

The combined sales of department stores, large outlets and Internet shops increased 6.5 percent on-year last month, with cumulative sales of the January-November period jumping 10.6 percent, according to the data by the Ministry of Trade, Industry and Energy.

The ministry said the on-year gain is led by online sales which soared 20.2 percent on the back of rising overseas purchases through global sale events including Black Friday in the U.S.

Sales of offline stores, however, edged up 0.3 percent as a 15.3-percent gain at convenience stores was offset by a 2.8-percent drop at department stores and a 6.1-percent fall at large discount chains.

Decreased holidays and shoppers after the nationwide shopping festival Korea Sale Festa that ended in October dragged down sales at department stores, added the ministry.

 

 

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