Korea retail sales increase 9.2% in August

It was led by strong online growth.

South Korea's retail industry saw a 9.2% year-on-year increase in August, according to the Ministry of Trade, Industry and Energy (MOTIE).

Offline sales grew 5.0%, whilst online sales surged 13.9%.

The rise in offline sales was driven by department stores and hypermarkets, benefiting from a prolonged heatwave and early Chuseok holiday. 

Hypermarket sales rose 5.9%, fueled by a 9.9% increase in food product purchases, particularly for Chuseok gifts. Department stores saw a 4.4% rise, with food sales up 18.7%.

Moreover, convenience stores recorded a 4.5% sales increase, driven by strong demand for beverages and processed foods, whilst super supermarkets (SSMs) grew 6.7%, boosted by food products and seasonal goods.

Online retail experienced a sharp 13.9% rise, driven by increased demand for food delivery and health products, with the service/other category up 60.4%. 

However, fashion and sports categories saw declines, down 17.8% and 12.7% respectively.