Tuesday, 02 January 2024 12:17 GMT

S. Korea Sees 6.6 Percent Increase in August Online Shopping


(MENAFN) South Korea’s online shopping spending climbed by 6.6 percent in August compared to last year, driven by a sharp rise in demand for cars purchased online, according to data released Wednesday by the Ministry of Data and Statistics.

The total online shopping volume reached 22.48 trillion won ($16.5 billion), marking the highest August figure since the government began tracking this data in 2017.

This unprecedented growth was largely fueled by a 55.1 percent jump in online sales of cars and car accessories, notably boosted by strong purchases of new models from U.S. automaker Tesla.

Other sectors also saw solid gains: food and beverage online transactions grew 5.8 percent, while agricultural, livestock, and fishery products rose 8.7 percent. Food delivery services saw a 9.0 percent increase, and cosmetics and mobile devices posted double-digit growth.

E-coupon services, popular for gifting items like coffee and cake, expanded 8.6 percent amid ongoing demand.

Mobile device purchases—including via smartphones and tablets—rose 8.9 percent year-on-year to 17.85 trillion won ($12.7 billion), representing 79.4 percent of total online shopping in August.

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