"Effect of Family Month and Public Holidays" ... Emart Turns to Sales Growth in May
Continuous Sales Decline from February to April This Year
Traders Sales Up 24% Year-on-Year
[Asia Economy Reporter Jo In-kyung] Emart's monthly sales, which had been declining for three consecutive months, turned to an upward trend in May due to the combined effects of Family Month and holidays.
On the 11th, Emart announced that its sales (net sales) based on separate financial statements for May reached 1.2641 trillion KRW, a 10.7% increase compared to April.
The increase was attributed to the recovery of consumer sentiment and the rise in spring outings, which boosted demand for groceries and daily necessities. Additionally, many customers visited the mart to purchase ingredients and gifts in celebration of Family Month. An Emart official explained, "Both Children's Day and Buddha's Birthday were weekdays, which had the effect of increasing sales compared to usual."
Previously, Emart's monthly sales were 1.3778 trillion KRW in January this year, a 4.1% increase compared to December last year, but decreased for three consecutive months: 1.2910 trillion KRW (-6.3%) in February, 1.1694 trillion KRW (-9.4%) in March, and 1.1422 trillion KRW (-2.3%) in April.
In the distribution industry, it is observed that while pent-up revenge consumption after the COVID-19 pandemic was concentrated in department stores, sales of Emart's main products such as fresh food, convenience food, and daily necessities generally declined due to intensified competition between existing offline channels and online channels like e-commerce.
However, due to the base effect caused by the COVID-19 pandemic, sales compared to the same period last year increased significantly. Emart's sales in January increased by 2.8%, February by 23.7%, March by 8.1%, April by 6.9%, and May by 16.4% year-on-year.
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Emart's cumulative sales from January to May this year totaled 6.2444 trillion KRW, an 11.1% increase compared to the same period last year. In particular, during this period, Traders' sales increased by 24.1% year-on-year, greatly surpassing the discount store division's sales growth rate of 9.1%.
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