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Retail Sales Surge in South Korea Due to Online Demand Amid Heat Wave.


Seoul: Retail sales in South Korea increased 6.7 percent from a year earlier in September, driven by strong demand for air conditioners from online stores amid a prolonged heat wave, data showed Tuesday. The combined sales of 23 major offline and online retailers reached 15.3 trillion won (US$11 billion) last month, up from 14.3 trillion won a year earlier.

According to Yonhap News Agency, sales at offline stores dropped 0.9 percent over the cited period as consumers purchased fewer autumn clothes due to the heat wave. In detail, sales from supermarkets dropped 6.5 percent on-year as consumers had made early purchases for the Chuseok holiday in August, reducing consumption in September. Conversely, convenience store sales rose 2.5 percent, led by higher demand for ice cream and beverages.

South Korea’s meteorological agency reported that the average daily low temperature in September reached 20.9 C, the highest since data collection began in 1973. Online store sales surged 15.7 percent due to the strong dem
and for air conditioners. Demand for food from online malls increased 14.7 percent on-year in September, although sales of sports equipment declined 11.4 percent. The service sector, which includes gift vouchers and travel packages, also jumped 52.9 percent over the period at online malls.