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South Korea Posts Growth in October Online Sales
(MENAFN) South Korea's online shopping activity posted single-digit growth in October, propelled by explosive demand for vehicles purchased through digital channels, government statistics released Monday confirmed.
Cyberspace transactions expanded 4.9 percent year-over-year to 22.71 trillion won ($15.4 billion) during the month, the Ministry of Data and Statistics reported.
The uptick stemmed from skyrocketing online purchases of vehicles from U.S. automaker Tesla. Digital sales of cars and automotive accessories surged 38.6 percent in the reporting period.
Food delivery services and agricultural, livestock, and fishery product transactions in cyberspace recorded double-digit increases, while online demand for food and beverage, travel and transport services, and apparel registered single-digit gains.
E-coupon service transactions jumped 21.5 percent as consumers embraced a resurgent trend of gifting coffee and cake through digital vouchers.
Mobile commerce via smartphones, tablets, and comparable devices rose 5.9 percent annually to 17.71 trillion won ($12.0 billion) in October, representing 78.0 percent of total online shopping volume.
Cyberspace transactions expanded 4.9 percent year-over-year to 22.71 trillion won ($15.4 billion) during the month, the Ministry of Data and Statistics reported.
The uptick stemmed from skyrocketing online purchases of vehicles from U.S. automaker Tesla. Digital sales of cars and automotive accessories surged 38.6 percent in the reporting period.
Food delivery services and agricultural, livestock, and fishery product transactions in cyberspace recorded double-digit increases, while online demand for food and beverage, travel and transport services, and apparel registered single-digit gains.
E-coupon service transactions jumped 21.5 percent as consumers embraced a resurgent trend of gifting coffee and cake through digital vouchers.
Mobile commerce via smartphones, tablets, and comparable devices rose 5.9 percent annually to 17.71 trillion won ($12.0 billion) in October, representing 78.0 percent of total online shopping volume.
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