S.Korea's Retail Sales Log Double-digit Growth In H1

South Korea's retail sales logged double-digit growth in the first half of this year due to the recovery in domestic demand from the COVID-19 pandemic, a government report showed Tuesday

SEOUL, (UrduPoint / Pakistan Point News - 27th Jul, 2021 ) :South Korea's retail sales logged double-digit growth in the first half of this year due to the recovery in domestic demand from the COVID-19 pandemic, a government report showed Tuesday.

The combined revenue by online and offline retailers spiked 12.1 percent in the first half of the year from a year ago, according to the Ministry of Trade, Industry and Energy.

Revenue by offline retailers increased 8.6 percent thanks to robust demand for luxury goods in department stores.

Sales by department stores soared 26.2 percent in the first half of this year, after sliding 12.9 percent in the first half of last year amid the economic downturn from the pandemic.

Revenue by discount outlets and convenient stores gained 0.3 percent and 6.2 percent respectively in the six-month period.

Online retailers' revenue advanced 16.1 percent from a year earlier as the protracted pandemic lifted demand for online food delivery services.