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S. Korea's retail sales up 14 pct in Feb. on solid online, offline sales

According to Yonhap News,

(SEJONG=Yonhap News) Retail sales in South Korea jumped 14 percent in February compared with a year ago on the back of upbeat sales at both online and brick-and-mortar stores, government data showed Thursday.

Sales of 13 major online stores and market places soared 12.1 percent on-year last month, the Ministry of Trade, Industry and Energy said, without disclosing their sales figures.

Sales of 13 offline-based retailers, including department stores, discount chains and convenience stores, also advanced 15.1 percent over the period due to upbeat sales of high-margin gift packages as the Lunar New Year fell in mid-February this year. The holiday season took place in late January in 2017.

Among offline retailers, big discount retail outlets and convenience stores posted 23.5 percent on-year growth and a 12.6 percent gain, respectively.

Sales at online malls soared 16.9 percent on-year in February as more people opted for online grocery shopping, aided by fast delivery service, the data showed.

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Source Text

Source: Yonhap News (Mar. 29, 2018)

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