Aftermath of the Timef Incident Continues: 'Click Shopping Tribe' Growth Rate Drops to 0.6%

by Jo Youjin

Published 02 Dec.2024 12:00(KST)

Updated 02 Dec.2024 13:45(KST)

Statistics Korea October Online Shopping Trends

Yonhap News

Following the aftermath of the Timef incident, the growth rate of online shopping transaction volume in October continued to slow down. Excluding service product categories, the growth rate of online shopping transaction volume recorded the lowest level ever.

According to the 'October Online Shopping Trends' released by Statistics Korea on the 2nd, the total online shopping transaction volume in October was 20.2845 trillion KRW, an increase of only 0.6% (12.98 billion KRW) compared to the same month last year.

Among these, the growth rate of online shopping transaction volume for 19 product categories excluding service product categories such as travel, transportation, culture, and leisure was 0.6%, the lowest since the related statistics were reorganized in 2017.

Among the 19 product categories, the transaction volume in the home electronics sector sharply declined by 16.7%, from 2.8233 trillion KRW to 2.3514 trillion KRW. The home electronics sector includes computer peripherals, home electronics, and communication devices.

The transaction volume in the fashion sector was 5.0068 trillion KRW, a 2.1% decrease compared to the same month last year (5.1134 trillion KRW). On the other hand, reflecting demand for overseas travel due to the bridge holidays and the use of remaining year-end leave, the transaction volume in the service sector increased by 0.9% to 5.7666 trillion KRW compared to the same month last year (5.7169 trillion KRW).

Mobile transaction volume increased by 4.2% to 15.4227 trillion KRW. Its share of total online shopping transactions rose by 2.6 percentage points to 76.0%.