April 20, 2024
Retail & Consumer
Online shopping up 17% in Oct.
[THE INVESTOR] Online shopping in South Korea reached a fresh record high in October growing by 17.3 percent, a government report showed on Dec. 2.
Total online transactions set a record of 5.6 trillion won (US$4.80 billion) in October, from 4.8 trillion won a year earlier, according to the report by Statistics Korea.
Purchases made through smartphones, tablets and other mobile gadgets also hiked 37.4 percent on-year to a record 3.2 trillion won to account for 56.1 percent of all online sales in the month, up from the 54.7 percent share the previous month.
In October, the Korea Sale Festa, designed to tie up the retail industry with the tourism and cultural sectors in line with the major Chinese holiday season, encouraged people to go shopping online and offline.
During the one-month period, some 200 retailers and Internet markets offered discounts and promotions to attract local and foreign shoppers.
Demand for clothes jumped 29.5 percent on-year to 726.8 billion won and online sales of cosmetics went up 42.1 percent to 465.1 billion won, while online food delivery vaulted 24.8 percent to 521.4 billion won.
(theinvestor@heraldcorp.com)
Total online transactions set a record of 5.6 trillion won (US$4.80 billion) in October, from 4.8 trillion won a year earlier, according to the report by Statistics Korea.
Purchases made through smartphones, tablets and other mobile gadgets also hiked 37.4 percent on-year to a record 3.2 trillion won to account for 56.1 percent of all online sales in the month, up from the 54.7 percent share the previous month.
In October, the Korea Sale Festa, designed to tie up the retail industry with the tourism and cultural sectors in line with the major Chinese holiday season, encouraged people to go shopping online and offline.
During the one-month period, some 200 retailers and Internet markets offered discounts and promotions to attract local and foreign shoppers.
Demand for clothes jumped 29.5 percent on-year to 726.8 billion won and online sales of cosmetics went up 42.1 percent to 465.1 billion won, while online food delivery vaulted 24.8 percent to 521.4 billion won.
(theinvestor@heraldcorp.com)
