Retail sales in South Korea rose 6.4 percent on-year in October on the back of rising demand for food items and daily necessities on online platforms, the industry ministry said Tuesday.
The combined sales of 25 major offline and online retailers came to 15.3 trillion won about ($11.78 billion) last month, compared with 14.4 trillion won a year earlier, according to the data compiled by the South Korean Ministry of Trade, Industry and Energy.
Sales of offline retailers inched up 0.5 percent on-year to 7.36 trillion won in October, as rising demand for food and services offset the fall in sales of fashion items and goods for kids and sporting.
Department stores saw their sales decrease 2.6 percent last month, and sales at discount chain stores, such as E-Mart and Lotte Mart, dropped 4.1 percent on-year.
But convenience stores enjoyed 6.8 percent sales growth, and the sales of smaller supermarkets rose 3.1 percent on-year last month, the data showed.
Sales on online platforms jumped 12.6 percent to 7.95 trillion won as online shopping for daily necessities and services has become commonplace.
Demand for food items on online platforms climbed 23.4 percent on-year and that for household goods advanced 16.9 percent.
Online platforms accounted for 51.9 percent of total sales in October, up from 49.1 percent a year earlier, the ministry said.
source: qna.org.qa