S.Korea's Retail Sale Grows In January

S.Korea's retail sale grows in January

SEOUL, (APP - UrduPoint / Pakistan Point News - 27th Feb, 2024) South Korea's retail sales grew in single digits last month owing to robust online demand, government data showed Tuesday.

The combined revenue among major offline and online retailers rose 8.2 percent in January compared to the same month of last year, according to the Ministry of Trade, Industry and Energy.

Revenue for online retailers soared 16.8 percent, but sales by offline retailers edged down 0.

3 percent last month.

The offline demand weakened as the Lunar New Year's holiday fell in February this year, but online demand spiked for travel booking, mobile phones and convenience food.

Food demand in cyberspace jumped 22.4 percent, and online demand for home appliances and daily necessities went up in double figures.

Food sales in offline stores declined 1.9 percent, while offline demand for home appliances, clothes and sports items retreated in single digits.