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Online shopping hits record high in July

According to Yonhap News,

(SEJONG=Yonhap News) The total value of online shopping in South Korea hit a record high in July, government data showed Wednesday, in the latest sign that a growing number of people are using computers and mobile devices to buy things, ranging from clothes to electronic goods.

Total online transactions reached 11.18 trillion won (US$9.2 billion) in July, the highest level for any July since Statistics Korea made changes in collecting data on online shopping in 2017.

From a year earlier, the value of online shopping rose 15.4 percent, or 1.48 trillion won, according to the preliminary data compiled by Statistics Korea.

In July, sales of electronic goods and computers jumped 8 percent on-year to 1.7 trillion won, demand for clothes increased 10.7 percent to 1.16 trillion won, and online sales of food and beverages rose 24.9 percent to 1.07 trillion won.

Purchases made through smartphones, tablets and other mobile gadgets soared 21.5 percent on-year to 7.2 trillion won, accounting for 64.5 percent of all online sales in the second month of 2019.

South Korea is one of the most wired countries in the world, with one of the highest smartphone penetration rates.

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Source: Yonhap News (September 4, 2019)

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