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S.Korea's Retail Sale Falls in March over COVID-19

https://en.steelhome.com [SteelHome] 2020-04-28 14:34:21

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South Korea's retail sale fell last month as the COVID-19 outbreak reduced offline sale, offsetting a double-digit increase in online sale, a government report showed Tuesday.

Revenue of major retailers contracted 3.3 percent in March from a year earlier, according to the Ministry of Trade, Industry and Energy.

Sale by offline retailers tumbled 17.6 percent in the month, while online retailers' revenue advanced 16.9 percent.

It came as consumers refrained from outside activities such as shopping, traveling and eating-out on worry about the coronavirus pandemic.

After growing 4.1 percent in January, revenue by offline retailers declined 7.5 percent in February and 17.6 percent in March respectively.

Sale by department stores and discount outlets plunged 40.3 percent and 13.8 percent each last month.

Revenue by super supermarkets gained 5.5 percent on demand for food ingredients, caused by people's preference to stay at home and cook for meal.

Source: Xinhua
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