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S. Korea's retail sales grow in November on year-end shopping festival

SEOUL
2019-12-25 14:07

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SEOUL, Dec. 25 (Xinhua) -- Retail sales in South Korea grew last month as a year-end shopping festival buoyed both online and offline sales, a government report said Wednesday.

The combined sales of 26 major online and offline retailers increased 7.5 percent in November from a year earlier, according to the Ministry of Trade, Industry and Energy.

It came as the Korea Sale FESTA, a South Korean version of Black Friday, ran for three weeks from Nov. 1. Consumers raised the purchased of discount products during the country's biggest shopping season.

Offline sales rose 2.4 percent in the month, marking the first increase in three months. Online sales advanced 14.8 percent, keeping a double-digit expansion for four straight months.

Revenue of major department stores and discount outlets grew 3.1 percent and 0.8 percent each, while convenience stores posted a 4.6 percent growth in revenue last month.

Hypermarket stores saw a 3.3 percent reduction in revenue in November from a year earlier as consumers rushed to department stores and discount chains.
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