Average Sales in Daejeon Commercial Areas Down 20%... Impact of COVID-19

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Last month, the average sales revenue of commercial districts in the Daejeon area was analyzed to have decreased by 20% compared to the same period last year. This is attributed to the impact of the spread of the novel coronavirus infection (COVID-19).

According to the Daejeon City Big Data Team on the 21st, the total sales revenue of all industries in the region last month was 550.7 billion KRW, which is 136 billion KRW (19.8%↓) less than 686.8 billion KRW in March of the previous year.

This result was derived from the Big Data Team's analysis of 'March sales revenue changes by industry' based on KB Card payment amounts from the 10th to the 13th of this month. A total of 36 industries were included in the analysis.

Among the sales revenue status by industry, the industry with the largest decrease rate was the clothing industry (58.4%), followed by large-scale distribution (55.3%), academies (53.1%), and entertainment (51.3%).

This is interpreted as the effect of the high-intensity social distancing campaign. In fact, the commercial district sales showed a gradual recovery from the 1st to the 3rd week of last month but began to decline again around the time the government’s statement (high-intensity social distancing campaign) was announced, according to the Big Data Team’s analysis.

While sales in face-to-face industries noticeably decreased due to high-intensity social distancing, sales in non-face-to-face industries rather increased. As the so-called ‘Bangkokjok’?people who solve lodging and cultural life at home?increased, sales in fuel sales (90.0%), electronics (48.3%), and food and beverage (17.3%) industries actually rose.

Regarding sales revenue status by the five autonomous districts, the decrease rates were found to be largest in Jung-gu (26.8%), Dong-gu (25.0%), Yuseong-gu (18.9%), Seo-gu (17.5%), and Daedeok-gu (14.6%), respectively.

A city official said, "Through the big data results, we were able to confirm the damage COVID-19 has caused to the local economy," and added, "The city will prepare support measures focusing on industries with high decrease rates and amounts, such as academies and clothing."

This content was produced with the assistance of AI translation services.