South Korea's retail sector showed signs of recovery in May, with offline sales returning to growth after a four-month slump, driven by strong demand for high-value products, data from the Ministry of Trade, Industry and Energy revealed on Wednesday.
Last month, sales of major offline retailers rose 0.9% year-on-year, ending three consecutive months of decline. Meanwhile, sales of key online platforms surged 13% from a year earlier. Combined, total sales of offline and online retailers grew 7% year-on-year.
The ministry attributed the offline sales rebound to rising consumer prices and robust demand for high-priced items. Within the offline segment, sales of luxury goods such as jewelry and watches jumped 8.1% year-on-year. In contrast, sales of home appliances and fashion products fell 7.8% and 3.7% respectively.
In the online space, sales of food delivery, e-commerce coupons and travel-related services soared 37.3% year-on-year, while grocery delivery services saw an 18.2% increase in revenue, reflecting sustained consumer preference for digital shopping convenience.
The data signals a gradual recovery in South Korea's retail market, with a divergent performance between high-end goods and daily necessities highlighting shifting consumer spending patterns amid economic uncertainties.
