Olympic Boost and Staying Home... August Online Shopping Amount 16 Trillion KRW, Up 17% YoY
Statistics Korea 'August Online Shopping Trends'
[Sejong=Asia Economy Reporter Moon Chaeseok] Due to the Tokyo Olympics and the impact of social distancing measures amid the spread of COVID-19, online consumption in August reached 15.8 trillion KRW, marking an increase of nearly 17% compared to the same period last year. Although this is lower than the approximately 16 trillion KRW recorded in July, the strong trend in online shopping continues.
According to the "August Online Shopping Trends" released by Statistics Korea on the 5th, the online shopping transaction amount in August increased by 16.8% year-on-year to 15.769 trillion KRW. The cumulative online shopping transaction amount from January to August rose to 123.8324 trillion KRW.
Mobile shopping transactions amounted to 11.4585 trillion KRW, up 22.8% from 9.3291 trillion KRW a year earlier. As a result, the share of mobile transactions in total online transactions expanded by 3.6 percentage points (p) to 72.7% compared to the previous year.
By product category, food delivery services such as chicken ordered online recorded transactions of 2.4192 trillion KRW, an increase of 15.3% compared to the same month last year. Transactions for food and groceries also increased by 13.6% to 2.1461 trillion KRW.
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Due to the heatwave, transactions for seasonal appliances such as air conditioners increased, with transactions for home appliances, electronics, and telecommunications devices (1.8618 trillion KRW) rising 11.8% year-on-year. Additionally, transactions for daily necessities (9.1%) and clothing (6.7%) also increased.
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