Tuesday, 02 January 2024 12:17 GMT

S. Korea Posts Double-Digit Growth in September Online Shopping


(MENAFN) South Korea's digital retail sector posted robust double-digit expansion throughout September, propelled by explosive automotive demand online, official government statistics revealed Monday.

Cyberspace transactions climbed 13.3 percent year-over-year to reach 23.80 trillion won (16.6 billion U.S. dollars) last month, data from the Ministry of Data and Statistics indicated.

The dramatic uptick stemmed primarily from skyrocketing virtual purchases of fresh vehicle models manufactured by American automaker Tesla. Digital sales of automobiles and related accessories more than doubled during the reporting period.

Food and beverage e-commerce jumped 17.7 percent, while agricultural, livestock and fishery product transactions surged 21.1 percent online.

Virtual demand for travel and transportation services rose 12.0 percent, with daily necessities, computers, apparel and cosmetics all registering double-digit gains.

E-coupon service transactions advanced 1.9 percent as consumers maintained their preference for gifting items like coffee and pastries through digital vouchers.

Mobile commerce via smartphones, tablets and comparable portable devices increased 11.0 percent annually to 18.06 trillion won (12.6 billion dollars) in September, representing 75.9 percent of total e-commerce activity.

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