September Online Shopping 16.2 Trillion Won... Record High Due to COVID-19 and Chuseok Overlap

Statistics Korea 'Online Shopping Trends'... Highest Since Statistics Compilation in 2001

[Sejong=Asia Economy Reporter Son Seonhee] Online shopping transaction volume exceeded 16.2 trillion KRW last September, setting a new record high. This is attributed to the increasing trend of contactless transactions since the COVID-19 pandemic and the overlapping Chuseok holiday period.

According to the "September Online Shopping Trends" released by Statistics Korea on the 3rd, the total online shopping transaction volume in September reached 16.2151 trillion KRW, a 17% increase compared to the same month last year. This is the largest transaction volume since Statistics Korea began compiling related statistics in 2001. Among this, mobile shopping transactions increased by 23.9% from the previous year to 11.7378 trillion KRW, accounting for about 72.4% of the total online shopping transaction volume.

In particular, in September, online shopping transactions such as gift sets increased due to the Chuseok holiday, and food service transactions (including delivery) recorded 2.193 trillion KRW, a significant 36.8% increase compared to the previous year. However, this is slightly lower than the previous month (2.4194 trillion KRW). Related transaction volume also increased by 40% due to increased travel and movement demand during the holiday period. Additionally, influenced by the trend toward larger, premium home appliances and the release of new smartphones, transactions in home appliances, electronics, and telecommunications devices increased by 25.8% during the same period.

Online overseas direct sales in the third quarter amounted to 1.0062 trillion KRW, a 39% decrease compared to the same quarter last year. By country, decreases were observed in China (-42.9%), ASEAN (-18.1%), and the European Union (-30.5%).

By product category, sales declined in cosmetics (-43.3%) and music, video, and musical instruments (-41.1%).

On the other hand, overseas direct purchases increased by 14.6% to 1.0975 trillion KRW during the same period. Increases were seen in the United States (11.7%), China (21.2%), Japan (31.4%), and the European Union (5.5%). Growth was noted in clothing and fashion-related products (14.3%) and food and beverages (17.7%).

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