World Cup boosts South Korean convenience stores revenue

South Korean convenience stores saw their sales more than double in some categories as tens of thousands of South Koreans took to the streets to cheer on their national football team in the first game of its World Cup campaign.

BGF Retail Co, which operates the country’s largest convenience store chain, CU, said sales of major products at its stores from 6pm Monday to midnight soared as South Korea faced Sweden in their 2018 FIFA World Cup Group F opener.

Sales of beer surged 124.8 per cent, with revenue from ice cream and water jumping 121.9 per cent and 120.2 per cent, respectively, from the previous week.

GS Retail Co, which operates GS25, said sales of beer skyrocketed 274.6 per cent on Monday compared with the same day the previous week.

Police estimated some 17,000 fans joined the mass street cheering in Seoul’s Gwanghwamun Square. Another 6000 fans are estimated to have gathered at Seoul Plaza in front of City Hall.

South Korea fell to Sweden 1-0. Its next game, against Mexico, will take place in Rostov-on-Don on Saturday.