SEOUL, Retail sales in South Korea rose by 8.8 percent on-year in May, driven by promotional events launched by online shopping platforms, data showed Tuesday. The combined sales of 25 major offline and online retailers amounted to 16.3 trillion won (US$11.7 billion) last month, compared with 14.9 trillion won a year earlier, according to data compiled by the Ministry of Trade, Industry and Energy. Offline store sales edged up by 0.9 percent during the period, as convenience stores' revenues surged 4.1 percent due to stronger demand for ready-to-eat meal products. Sales at department stores, on the other hand, fell 0.1 percent due to weaker demand for clothes and sports equipment. Supermarket sales also decreased 3.1 percent, following a decline in demand for electronics and daily necessities. Sales from online platforms soared by 16.5 percent as major shopping malls launched promotional events, including issuing discounts and free delivery coupons. Online platforms accounted for 53.9 percent of total sales in May, up from 50.3 percent a year earlier, the ministry said. Source: Yonhap News Agency
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