Offline retail sales up for 1st time in 4 months in May: data

Korean retailers saw their offline sales increase for the first time in fourth months in May, driven by strong demand for high-value products, data showed Wednesday. Last month, revenue of major offline retail companies rose 0.9 percent from a year earlier, snapping a three-month streak of on-year declines, while sales from major online platforms climbed 13 percent, according to data compiled by the Ministry of Trade, Industry and Energy. The combined revenue of offline and online retailers expanded 7 percent on-year. The ministry attributed the growth in offline sales to higher consumer prices and robust demand for high-priced items. In the offline sector, revenue from luxury goods, such as jewelry and watches, grew 8.1 percent on-year, while sales from home appliances and fashion items dropped 7.8 percent and 3.7 percent, respectively. In the online sector, sales of food delivery, e-commerce coupons and travel-related services jumped 37.3 percent, while revenue from grocery delivery services advanced 18.2 percent.Weiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times