Invest KOREA

According to Pulse by Maeil Business News Korea,

Online shopping value in South Korea reached a fresh milestone of 16 trillion won ($14.1 billion) as consumers got more used to have food and groceries delivered to their doors amid still-rigid social distancing rules.

The value of online shopping transactions reached 16.06 trillion won in May, up 26 percent from the same month a year ago, according to the data from Statistics Korea on Tuesday.

The growth was mainly driven by a 62.2 percent surge in food delivery with turnover reaching 2.14 trillion won and 38.1 percent jump in online food and beverage shopping totaling 2.04 trillion won. The two categories accounted about a quarter of total online transactions.

Online purchases of consumer electronics and telecommunication devices jumped 19.7 percent from a year earlier in May, as people spend more time at home for remote working due to Covid-19. Clothing purchases increased 2.4 percent and daily necessities 13.3 percent.

Online transactions for agriculture, livestock and fishery products soared 42.5 percent, e-coupon services 43.9 percent, culture and leisure services 33.9 percent, cars and car accessories 178.7 percent, travel and transportation services 38.4 percent and cosmetics 24.1 percent.

“Online transactions jumped amid the sign of economic recovery, and the growth was mostly led by food delivery and food and beverage services,” said Lee Min-kyung, head of service industry trend team at Statistics Korea.

Mobile shopping transactions rose 31.6 percent on year to 11.43 trillion won in May. Mobile-based shopping accounted for 71.2 percent of the entire online retail, up 3.1 percentage points from last year.



By Choi Mira

Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.