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Business / World Business

S. Korea's retail sales grow in November

Published: 26 Dec 2023 - 01:38 pm | Last Updated: 26 Dec 2023 - 01:42 pm
People take pictures in front of a light display reading

People take pictures in front of a light display reading "New Year 2024" in central Seoul on December 22, 2023. (Photo by Jung Yeon-je / AFP)

Xinhua

SEOUL: South Korea's retail sales grew last month due to solid online demand for food and daily necessities, government data showed Tuesday.

The combined revenue among major offline and online retailers gained 8.7 percent in November from a year earlier, according to the Ministry of Trade, Industry and Energy.

Revenue for online retailers expanded 12.7 percent, while sales by offline retailers increased 4.5 percent last month.

Food demand in cyberspace jumped 22.0 percent, and the online demand for daily necessities such as kitchen and cleaning supplies advanced 14.1 percent.

Food sales in offline stores climbed 4.4 percent, but offline demand for home appliances retreated by single digits.

Revenue for discount outlets, department stores, and convenience stores added 1.3 percent, 6.8 percent and 4.2 percent each last month.