South Korean retail sales up as summer season arrives
By Mei Ling Tan
1 min read
South Korean retail sales increased by 3.4 percent year on year in May.
Online sales reportedly surged by 18.1 percent in May, far faster than offline sales, which increased buy just 1.9 percent.
A government spokesperson said the increase in sales for the month was driven by growing demand for seasonal products such as air conditioners, as summer arrived.
There was also strong demand for electronics and gifts for Parents’ Day and Children’s Day.
May’s 3.4 percent rise in South Korean retail sales was below the mean average monthly rate of 3.9 percent recorded from 1996 until this year.