April 20, 2024
Retail & Consumer
Korean cosmetics sales slows in April
[THE INVESTOR] Sales of Korean cosmetics products slowed in April from a year earlier, data showed on June 2.
The index gauging the retail sale of cosmetics products grew 2.2 percent in April from the previous year, the lowest growth since the figure marked negative 7.1 percent in August 2015, according to the data by Statistics Korea.
This is in contrast to the surge in the retail sales index for last year, during which it posted 5.6 percent growth in February, 11.4 percent in March and continued its double-digit number for the rest of the year.
The slowdown in the retail cosmetics sales is largely a result of a steep fall in the number of Chinese visitors, which tumbled nearly 67 percent in April alone.
The amount of retail cosmetics sales reached 1.65 trillion won (US$1.47 billion) in April, hitting a nine-month low, the data showed.
By Alex Lee and newswires (alexlee@heraldcorp.com)
The index gauging the retail sale of cosmetics products grew 2.2 percent in April from the previous year, the lowest growth since the figure marked negative 7.1 percent in August 2015, according to the data by Statistics Korea.
This is in contrast to the surge in the retail sales index for last year, during which it posted 5.6 percent growth in February, 11.4 percent in March and continued its double-digit number for the rest of the year.
The slowdown in the retail cosmetics sales is largely a result of a steep fall in the number of Chinese visitors, which tumbled nearly 67 percent in April alone.
The amount of retail cosmetics sales reached 1.65 trillion won (US$1.47 billion) in April, hitting a nine-month low, the data showed.
By Alex Lee and newswires (alexlee@heraldcorp.com)
