Seoul: Revenue of major retail companies here increased 7.2 percent from a year earlier in April on the strong performance of both offline and online retailers, government data showed Wednesday. Offline retailers reported 6.7 percent on-year growth in sales, with department stores posting a sharp growth of 21.7 percent. Convenience stores also posted a 3.3 percent gain in revenue, according to data compiled by the Ministry of Trade, Industry and Resources.
According to Yonhap News Agency, it marked the 10th consecutive month revenue of department stores and convenience stores went up. Department stores saw their revenue significantly improve across all categories, including fashion, accessories, and food. Convenience stores enjoyed a boost in sales of processed food, including beverages, with the earlier-than-usual hot weather affecting South Korea.
Offline supermarkets, however, saw their revenue drop 6.6 percent on-year with the continued growth of the e-commerce sector. The revenue of major online retail platforms climbed 7.5 percent on-year in April, led by the growth in sales of cosmetics, groceries, and home appliances.
Online platforms accounted for 60.3 percent of total retail sales in March, while department stores took up 15.3 percent, convenience stores 14.6 percent, and supermarkets 7.9 percent.