Retail sales in South Korea grew 7.9 per cent on-year in February due to rising demand for fashion, tourism and other items as people increasingly adapted to post-pandemic life.
The combined sales of 25 major offline and online retailers came to US$10.1bn last month, compared with 12.1 trillion won a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.
The overall on-year growth came on weak retail sales a year earlier because of fewer business days over the Lunar New Year’s holiday, as well as another wave of the Covid-19 pandemic sparked by the fast-spreading omicron variant at that time.
Sales of offline retailers jumped eight per cent on-year to 6.33 trillion won last month, as demand for fashion items as well as goods for children and sporting goods rose 16.2 per cent and 17.4 per cent, respectively.
