Online Shopping Frenzy on the Wane
07 April, 2021
The web shopping frenzy sparked by the coronavirus epidemic is abating as customers go back to physical shops and malls.
Online transactions decreased 8.7 percent from W15.08 trillion in January to W13.76 trillion in February, according to info from Statistics Korea on Tuesday (US$1=W1,122). That they had stood at over W15 trillion since last November.
Their proportion of total retail sales also dropped from thirty percent to 28.1 percent over the month.
In on-year comparison, on-line shopping still rose 15.2 percent from February this past year, largely because of growing demand for food delivery, which soared 64.6 percent.
But offline stores saw a larger increase, with department retailer product sales jumping 33.5 percent on-year in February, the best growth since February 1996.
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