Online boosts South Korean retail sales

South Korean retail sales saw an significant uptick last year based on strong online sales, according to a government report.

The report showed 6.8 per cent revenue growth among major retailers over the previous year, based on figures held by the Ministry of Trade, Industry and Energy.

While offline sales in general grew 1.9 per cent last year (with growth in department stores just 1.3 per cent), online retail soared 15.9 per cent following the advent of dawn vegetable delivery services and the broader acceptance of online payment systems.

Convenience store revenue rose 8.5 per cent with the increase of physical outlets from 34,163 to 35,676. Discount outlets sales however dropped 2.3 per cent in response to a lukewarm demand for their food ranges.

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