April 20, 2024

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[THE INVESTOR] Retail sales in Korea rose 7.4 percent on-year in the first half, thanks to upbeat sales at online stores, data showed on July 30.

Sales at online stores jumped 16.3 percent compared with the year before in the first half, while those at offline retailers rose 2.7 percent on-year during the January-June period, according to the data by the Ministry of Trade, Industry and Energy. 

Sales at convenience stores and department stores rose 10.8 percent and 1.6 percent in the first half, respectively, but those at big discount store chains fell 1.8 percent.

Online malls reported a 20.8 percent spike in sales as more people opted to do their grocery shopping via the internet, thereby allowing them to receive fast delivery service.

Online market places, where product or service information is provided by multiple third parties, reported a 14.6 percent rise in sales thanks to strong demand for electronics and other technology gadgets.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)