South Korea's Online Shopping Sales Rise 10% in June, Driven by Mobile Devices and Autos
Quick Look
South Korea's online shopping sales grew 10% year-on-year to 24.6 trillion won in June, fueled by strong demand for mobile devices, notably due to Samsung promotions, and a significant surge in automobile purchases, particularly Tesla EVs.
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Why It Matters
South Korea's online shopping sector experienced a significant 10% year-on-year increase in June, reaching 24.6 trillion won.
Online shopping sales in South Korea increased around 10 percent from a year earlier in June, led by stronger demand for mobile devices and automobiles, data showed Monday.
The value of online shopping transactions came to 24.6 trillion won (US$17 billion) in June, up 2.3 trillion won from a year earlier, according to data from the Ministry of Data and Statistics.
The report showed sales of mobile devices more than doubling to 892.4 billion won, apparently on the back of promotional events by Samsung Electronics.
Spending on automobiles and related products also shot up 56.8 percent to 1.19 trillion won, on the back of strong sales of Tesla EVs.
Spending on food products, including agricultural and fishery goods, rose 11 percent to 4.6 trillion won, while spending on cosmetic products increased 9.9 percent to 1.26 trillion won.
Sales of food delivery services climbed 4.7 percent from a year earlier to 3.61 trillion won, the data showed.
Purchases made through smartphones, tablets and other mobile devices rose 9.8 percent from a year earlier to 18.9 trillion won. They accounted for 76.9 percent of total sales, down 0.7 percentage point from a year earlier.
Open Questions
- What specific mobile devices saw the highest sales?
- What other factors contributed to food product sales growth?
