Seoul: South Korean retailers experienced a sales increase of more than 4 percent in February from the previous year, driven by growing demand for e-commerce services, data revealed on Tuesday. Last month's total revenue for major retail companies saw a 4.4 percent rise compared to the same period last year, as reported by the Ministry of Trade, Industry and Energy.
According to Yonhap News Agency, the ministry attributed the growth primarily to the robust demand for online shopping and food delivery services. Online sector sales surged 16.7 percent year-on-year, with revenue from the food sector increasing by 14.9 percent. Additionally, revenue from online services, including food delivery and e-coupons, soared by 76.3 percent.
Sales of home appliances and electronics products rose by 3.6 percent, indicating a recovery after four months of consecutive decline, as consumers prepared for the new school semester. Conversely, offline platforms experienced a 7.7 percent drop in revenue year-on-year in February. This decline is partly due to the Lunar New Year holiday occurring in late January, earlier than in 2024.
Specifically, supermarket sales decreased by 18.8 percent, and department store sales fell by 3.6 percent, highlighting the shift in consumer preferences toward online shopping during this period.