Sejong, Disaster Relief Fund Effect Concentrated in May and Dodam-dong Area Throughout the Year

[Asia Economy (Sejong) Reporter Jeong Il-woong] The effect of disaster relief fund payments in the Sejong area was found to be concentrated in Dodam-dong in May, the peak month of the year.

Sejong City announced on the 15th that it posted the results of the analysis of the ‘2020 Credit Card Sales Big Data’ including this information on the city hall website.

The analysis results were derived by analyzing consumption trends within the region based on last year’s Shinhan Card sales big data.

First, the cumulative credit (Shinhan) card sales amount across Sejong last year decreased by 2.4% compared to the previous year due to the spread of COVID-19.

Regarding monthly sales changes, negative growth compared to the previous year began from March, when COVID-19 became full-scale.

In particular, December recorded the lowest sales with a negative growth rate of 17.4% compared to the previous year. On the other hand, May recorded the highest annual sales with 185.6 billion KRW. May was the time when emergency disaster relief funds began to be paid, and the city analyzes that the credit card sales amount increased that month due to the effect of the disaster relief fund payments.

By industry, discount stores and supermarkets showed the largest increase compared to the previous year (6.2%), and industries such as clothing, outdoor golf, home appliances, online transactions, and furniture also showed slight increases in sales compared to the previous year.

Industries with the highest growth rates compared to the previous year regardless of amount included outdoor golf and skiing (94.5%), furniture (75.6%), and clothing/apparel (49.5%).

Conversely, industries affected by strengthened social distancing such as restaurants, sports facilities, karaoke rooms, gas stations, and academies showed clear sales declines.

Analysis of sales changes by region showed that 30.2% of the total card sales amount in Sejong was concentrated in Dodam-dong, and among the areas with sales increases compared to the previous year, Sodam-dong showed the highest growth rate at 16.6%.

The most significant change in consumption patterns in the Sejong area last year was a noticeable increase in online transactions. This was the result of a shift in consumption culture from face-to-face to non-face-to-face methods due to the COVID-19 pandemic. In the region, the number of online transaction payments increased by 45% and the usage amount increased by 29% compared to the previous year.

Meanwhile, the disclosed consumption trend analysis results are estimates of the total sales amount for the city based on Shinhan Card merchant data and do not reflect the usage status of local currency.

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