Online Shopping Frenzy on the Wane – The Chosun Ilbo (English Edition): Daily News from Korea – Business > Business
April 07, 2021 13:15
The online shopping frenzy sparked by the coronavirus epidemic is abating as customers return to physical shops and malls.
Online transactions decreased 8.7 percent from W15.08 trillion in January to W13.76 trillion in February, according to data from Statistics Korea on Tuesday (US$1=W1,122). They had stood at over W15 trillion since last November.
Their proportion of total retail sales also dropped from 30 percent to 28.1 percent over the month.
In on-year comparison, online shopping still rose 15.2 percent from February last year, largely due to growing demand for food delivery, which soared 64.6 percent.
But offline stores saw a larger increase, with department store sales jumping 33.5 percent on-year in February, the highest growth since February 1996.