{"id":25012,"date":"2021-08-31T09:42:52","date_gmt":"2021-08-31T02:42:52","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=25012"},"modified":"2021-09-02T10:04:36","modified_gmt":"2021-09-02T03:04:36","slug":"south-korea-offline-and-online-retail-sales-reached-11-billion-in-july","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/south-korea-offline-and-online-retail-sales-reached-11-billion-in-july\/","title":{"rendered":"South Korea offline, online retail sales reach $11 billion in July"},"content":{"rendered":"

Sales increased 13 percent last month due to the\u00a0strong\u00a0demand for delivery services\u00a0<\/span>\u00a0<\/span><\/p>\n

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Department store sales increased 7.8 percent due to the strong demand for imported luxury items and golf-related products. NTRdesign\/Shutterstock<\/figcaption><\/figure>\n

Retail sales in South Korea increased 13 percent in July from a year earlier due to strong demand for food delivery services amid the pandemic, reported The Korea Herald<\/a>.\u00a0<\/span>\u00a0<\/span><\/p>\n

According to the\u00a0Ministry\u00a0of Trade, Industry, and Energy, sales of 25 major offline and online retailers\u00a0totalled\u00a0KRW12.9 trillion (USD11 billion) last month,\u00a0higher\u00a0than the KRW11.4 trillion recorded in the previous year.\u00a0<\/span>\u00a0<\/span><\/p>\n

Sales from offline stores jumped seven percent on-year in July, as consumers purchased more home electronics and daily necessities for their homestay during the scorching summer.\u00a0<\/span>\u00a0<\/span><\/p>\n

Meanwhile, supermarkets saw a 7.3 percent surge in sales as people bought more food and sports equipment, and convenience store sales rose seven percent.\u00a0<\/span>\u00a0<\/span><\/p>\n

In terms of department stores, sales increased 7.8 percent due to the strong demand for imported luxury items and golf-related products. However, overall growth has been weighed down by the growing concerns over cluster infections in some stores.<\/span>\u00a0<\/span><\/p>\n

More: Singapore\u2019s retail industries recorded large year-on-year growth in sales<\/strong><\/a><\/p>\n

The soaring demand for food delivery services has carried online sales to jump a whopping 20.2 percent, leading the overall gains. To refrain from visiting physical stores, local consumers have also been purchasing food, cosmetic products, and home electronics online. <\/span>\u00a0<\/span><\/p>\n

Moreover,\u00a0concerns over the contagious delta strain\u00a0have\u00a0led authorities to implement strict social distancing rules in July, banning gatherings of more than four people and restricting dining-in in restaurants and cafes after 10 p.m.\u00a0<\/span>\u00a0<\/span><\/p>\n

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The Property Report editors wrote this article. For more information, email:\u00a0<\/span><\/i>propertyreport@propertyguru.com<\/span><\/i><\/a>.<\/span><\/i>\u00a0<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Sales increased 13 percent last month due to the\u00a0strong\u00a0demand for delivery services\u00a0\u00a0<\/p>\n","protected":false},"author":12,"featured_media":25013,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[2298,851,995,198],"class_list":["post-25012","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-delivery-services","tag-retail-sector","tag-sales","tag-south-korea","news_country-south-korea","news_author-property-report"],"acf":[],"yoast_head":"\nSouth Korea offline, online retail sales reach $11 billion in July | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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