S. Korea's retail sales grow in 2020 on online demand
Source: Xinhua | 2021-01-29
South Korea's retail sales grew last year due to solid online demand amid the COVID-19 pandemic, a government report said Thursday.
Revenue for major local retailers rose 5.5 percent in 2020 from the previous year, according to the Ministry of Trade, Industry and Energy.
Sales by online retailers jumped 18.4 percent in 2020 after expanding 14.2 percent in the previous year, but revenue for offline stores declined 3.6 percent.
Demand for online shopping strengthened last year as health protocols over COVID-19 encouraged people to stay at home.
The online demand for food and household items jumped 51.5 percent and 25.3 percent respectively last year.
Revenue for convenient stores gained 2.4 percent, but those for department stores and discount outlets went down 9.8 percent and 3.0 percent respectively, according to the report.
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