S. Korea's Retail Sale Grows In February

Umer Jamshaid Published March 26, 2024 | 01:50 PM

SEOUL, (APP - UrduPoint / Pakistan Point News - 26th Mar, 2024) South Korea's retail sale grew in double figures last month due to higher food demand ahead of the Lunar New Year's holiday, government data showed Tuesday.

The combined revenue among major offline and online retailers advanced 13.7 percent in February compared with the same month of last year, according to the Ministry of Trade, Industry and Energy.

Revenue for online retailers jumped 15.7 percent last month, keeping a double-digit growth for the sixth consecutive month.

Sales by offline retailers expanded 11.

5 percent in February on a yearly basis after sliding 0.3 percent in the previous month.

The Lunar New Year's holiday fell in February this year, boosting food demand both online and offline.

Food demand in cyberspace surged 36.2 percent, while online demand for daily necessities and other services such as travel and cultural performance increased in double digits.

Food sale in offline stores jumped 20.8 percent, while offline demand for clothes, sports times, daily necessities and other services gained in single digits.