Online transactions lift S. Korean retail sales 4.4% in July

Retail sales in South Korea surged 4.4 percent in July from last year as online platforms enjoyed increased demand for groceries and home appliances.

The 26 major offline and online retailers posted combined sales of 11.46 trillion won last month, up from 10.98 trillion won from a year earlier.

According to the data compiled by the Ministry of Trade, Industry, and Energy, online platforms led the growth with revenues advancing 13.4 percent over the period.

Sales of foodstuffs online jumped 46 percent on-year as more people avoided supermarkets.

Consumers also bought more daily items and furniture online, with the segment advancing 26.3 percent.

However, sales of tour packages plunged 16.3 percent from online platforms with global air travel virtually being suspended.

Offline stores, which were being outsold by online shops even before the virus outbreak, continued to lose ground, with sales dropping a further 2.1 percent on-year in July.

Convenience stores were the bright spot among offline shops with their revenue edging up 3.7 percent due to rising demand for sanitary items.

Supermarkets suffered a 5.5 percent on-year drop on sales in July due to the rainy season and pandemic.

Sales of clothes and sports goods plummeted 21.2 percent and 24.4 percent.