Sales at major retailers increased by 7.7% in August compared to the same month last year, driven by early sales of Chuseok gift sets. Large discount stores saw their sales rise for the first time in five months, while super supermarkets (SSM) experienced a rebound after eight months of decline.
The Ministry of Trade, Industry and Energy reported on the 23rd that sales from 26 major retailers showed a 5.4% increase in offline sales and a 9.3% increase in online sales. The Chuseok holiday, which falls earlier this year from September 24 to 27, has led to an uptick in gift set sales starting in August. Additionally, demand for delivery services and travel products continued to rise due to the summer heat and vacation season.
Among offline retailers, department stores recorded the highest growth rate at 11.9%. SSM sales increased by 5.0%, large discount stores by 4.5%, and convenience stores by 0.8%. All offline retail categories saw year-on-year sales growth.
Notably, large discount stores broke a five-month streak of declining sales from March to July. Food sales increased by 5.4% due to the Chuseok holiday, while sales of electronics and toys surged by 17.8%. Overall sales, which had dropped by 11.2% in July, turned around with a 4.5% increase in August.
SSM also returned to growth after eight months, benefiting from strong sales of holiday gift sets. Sales of agricultural, livestock, and fishery products rose by 10.1%, contributing to a 5.0% overall increase in sales. Department stores saw a 14.5% rise in food sales due to pre-sales of holiday sets.
Convenience stores experienced a decline in customer visits due to the heat, but higher average spending led to a 0.8% increase in overall sales. In August, the number of purchases at convenience stores decreased by 1.2% compared to the same month last year, while the average purchase amount increased by 2.0%.
Online sales rose by 9.3% year-on-year. The start of Chuseok gift set sales contributed to a 12.6% increase in food sales, while service and other sales, including food delivery and travel and cultural products, surged by 16.9% due to the heat and vacation season.
In August, online sales accounted for the largest share of total retail sales at 59.7%. Convenience stores followed at 15.4%, department stores at 13.7%, large discount stores at 9.0%, and SSM at 2.2%.
The Ministry of Trade, Industry and Energy compiles and releases monthly sales trends from 15 major offline retailers, including department stores, large discount stores, convenience stores, and SSM, as well as 11 online retailers. The scope and sample of this survey may differ from the Statistics Korea's 'Service Industry Trend Survey' and 'Online Shopping Trend Survey,' leading to variations in the magnitude and direction of changes.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.