South Korea’s Ministry of Trade, Industry and Energy said today. South Korea’s May retail sales rose 10.1% year-on-year. This was driven by strong demand for apparel and other services. After the government announced the relaxation of Covid-19 control measures which allows people to do outdoor activities
The ministry’s report states that Sales of 25 major online and offline retailers were 14.45 trillion won ($112.4 billion) in May, up from 13.1 trillion won in May last year. last
Offline retail sales jumped 9.3 percent to 7.48 trillion won as demand for apparel and sportswear increased. After the South Korean government lifted strict social distancing measures. to encourage people to return to normal life once more After the outbreak of the Omicron strain began to subside.
Among the offline retail businesses Department store sales rose 19.9 percent in May year-on-year. This was driven by recovering demand. Especially in clothing and other types of apparel, while sales of convenience stores rose 12.5 percent as all schools resumed their studies. Including many companies announced the end of the policy of working remotely.
Online retail sales rose 9.3 percent in May, with online sales accounting for 48.2 percent of total retail sales in May. This is an increase from 47.9% in May last year.
