As Social Distancing Ends... Pub Corporate Card Sales Soar 70%

Surpassing Personal Card (47%) Growth Rate... "Impact of Increased Company Dinners and Face-to-Face Sales"

[Image source=Yonhap News]

[Asia Economy Reporter Yu Je-hoon] After the end of social distancing measures due to the COVID-19 pandemic, corporate card sales in the pub industry increased by approximately 70%, according to a recent investigation.

BC Card announced on the 11th that an analysis of sales in the restaurant and pub sectors before and after the lifting of social distancing showed these results. The analysis categorized the distancing stages applied during March and April as ▲Before lifting (March 1?20, 6 people) ▲First lifting (March 21?April 3, 8 people) ▲Second lifting (April 4?17, 10 people) ▲Complete lifting (April 18?30).

For the restaurant sector, sales were classified into three types: ▲Delivery-focused (offline sales less than 30%) ▲Mixed (30% or more but less than 70%) ▲Offline-focused (70% or more). As a result, at the time of complete lifting of distancing, sales at offline-focused restaurants increased by 27% compared to before lifting, whereas delivery-focused restaurants saw a 12% decrease. Mixed-type stores also experienced a 4% decline in sales.

In the pub sector, sales during the complete lifting period increased by 47% compared to before lifting. Looking at card types, personal card sales rose by 41%, while corporate card sales surged by 70%, showing a stark contrast. BC Card explained that the increase in corporate card sales is attributed to the rise in company dinners and various face-to-face business activities following the lifting of social distancing and operating hour restrictions.

Further analysis of pub sales revealed that the sales growth rate among male customers (51%) was higher than that of female customers (41%). By age group, those in their 30s (59%) and those aged 60 and above (59%) showed steeper increases compared to other age groups (44?53%).

Byun Hyung-kyun, Executive Director of the AI Big Data Division, stated, "We are striving to provide necessary financial benefits to self-employed individuals whose business conditions have worsened due to COVID-19 by utilizing card consumption and merchant sales data." He added, "Through various data-driven services such as alternative credit evaluation based on sales data, we will continue to support self-employed individuals."

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