Seoul: Online shopping sales in South Korea surged 6.8 percent year-on-year to an unprecedented high in November, primarily fueled by rising demand for food-related services, data revealed Friday.
According to Yonhap News Agency, the Ministry of Data and Statistics reported that the total value of online shopping transactions reached 24.15 trillion won (US$16.75 billion) in November, marking an increase of 1.53 trillion won from the previous year. This figure represents the highest recorded since the ministry began compiling such data in 2017.
The data indicated a significant 13.7 percent increase in sales of food services, as well as food and beverages, attributed largely to promotional activities by food delivery platforms. Additionally, spending on travel and transportation services rose by 8.5 percent, driven by a rebound in domestic and international travel demand and promotional events in the latter half of the year.
Conversely, online sales of home appliances and electronics experienced a 4.9 percent decline, mainly due to fewer promotional offers from online shopping malls compared to the previous year. Meanwhile, purchases made via mobile devices such as smartphones and tablets grew by 7.9 percent to 18.59 trillion won, setting a new record. Mobile shopping accounted for 77 percent of total online sales in November, an increase of 0.9 percentage point from the prior year.