Q3 Online Shopping Transaction Amount Hits Record High of 42 Trillion Won..."Impact of COVID-19 and Chuseok"

Statistics Korea '2020 Q3 Online Shopping Trends'

[Asia Economy Reporter Jang Sehee] As the novel coronavirus infection (COVID-19) crisis continues, online shopping transaction volume in the third quarter of this year reached an all-time high.

According to the '2020 Q3 Online Shopping Trends' released by Statistics Korea on the 4th, the total transaction amount was 42.0411 trillion won, an increase of 24.6% compared to a year ago. This is the highest amount since the government began compiling online shopping trends in 2001.

By product category, there were significant increases in food services (81.7%), daily necessities (55.1%), and food and beverages (56.7%), but sharp declines continued in cultural and leisure services (-68.8%) and travel and transportation services (-53.4%).

Statistics Korea explained, "With the strengthening of social distancing due to COVID-19, online shopping transaction volume increased," adding, "Due to the Chuseok holiday effect, demand for food services, food and beverages, and daily necessities increased."

Looking at September alone, the total online shopping transaction amount was 14.7208 trillion won, up 30.7% from a year earlier. Transaction amounts increased in food and beverages (76.8%) and food services (91.1%).

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