Seoul: South Korea's retail sales rose 8.2 percent in 2024 from a year earlier as both offline and online platforms posted solid growth, the industry ministry said Thursday. The combined sales of 23 major offline and online retailers reached 179.1 trillion won (US$124.6 billion) last year, compared with 166.8 trillion won in 2023.

According to Yonhap News Agency, sales of offline retailers increased 2 percent on-year, driven by convenience and department stores, although demand at supermarkets declined due to weaker performance in non-food products. Online platforms saw their sales grow 15 percent during the period, supported by a 58.3 percent spike in demand for services, including gift vouchers and travel packages.

Sales of foodstuffs at online markets gained 22.1 percent from the previous year, according to the data. Of total sales, online sellers accounted for 50.6 percent to set a fresh high, up from 47.3 percent in 2023. In December alone, sales at offline stores fell 0.3 percent from a year earlier while those at online platforms jumped 18.8 percent, leading to an overall increase of 8.9 percent.