Retail sales up on online business

SEOUL: Retail sales in South Korea rose 6% in January from a year earlier as more consumers purchased daily necessities from online stores, with the demand for gift items ahead of the Lunar New Year’s holiday also bolstering the sales, according to data.

The combined sales of 26 major offline and online retailers reached 12.5 trillion won (Us$11.2bil) last month, up from 11.7 trillion won a year earlier, according to the data compiled by the Trade, Industry and Energy Ministry.

Online stores led the growth, with their sales jumping 22.6% on-year.

The demand for agricultural goods and processed foodstuffs from online shops especially rose 49% as people shopped early for the holiday, which ran from Feb 11 to 13.

With more people working from home, the demand for home appliances and electronics goods shot up 43.3% over the period, with those of furniture gaining 22.1%.