Special events drive record rise in online shopping sales in South Korea

(MENAFN) In May, online shopping sales in South Korea surged by 7.7 percent year-on-year, marking a new record high for the month, according to data released by Statistics Korea. The total transactions reached 20.87 trillion won (USD15.14 billion), reflecting an increase of 1.49 trillion won compared to the same period last year.

The growth was propelled by heightened consumer activity during various shopping events and Family Month celebrations. Notably, demand for food and beverages saw a significant rise of 16.6 percent year-on-year, totaling about 2.89 trillion won. This increase was influenced by national holidays like Children’s Day on May 5 and Parents’ Day on May 8, which traditionally spur spending on gifts and special treats.

The trend towards mobile shopping continued to gain momentum, with purchases made through smartphones, tablets, and other mobile devices surging by 7.8 percent year-on-year to reach an all-time high of 15.51 trillion won. Mobile platforms accounted for 74.4 percent of the total online sales in May, underscoring the increasing preference for convenient and accessible shopping methods among South Korean consumers.

The data from Statistics Korea highlights the resilience and growing importance of online commerce in South Korea’s retail landscape, driven by both seasonal festivities and the widespread adoption of mobile technology for shopping purposes.