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South Korea’s Retail Sales Rise 18.5% in March

Pedestrians wearing face masks walk through Seoul's Myeongdong shopping district. Getty Images.
Pedestrians wearing face masks walk through Seoul's Myeongdong shopping district. Getty Images. (ED JONES)

Retailers luring shoppers back to offline stores with special seasonal promotions saw sales in South Korea jump 18.5 percent in March from a year earlier, according to a Yonhap News Agency report.

The combined sales of 26 major offline and online retailers reached 13.1 trillion won ($11.7 billion) last month, data compiled by the Ministry of Trade, Industry and Energy showed.

Sales from offline stores jumped 21.7 percent and department stores saw their sales rise 77.6 percent. Sales of imported luxury goods rose 89 percent year-on-year as South Korean consumers re-routed disposable income that would normally be spent on categories such as travel, to luxury shopping at home.

Fashion items and cosmetics saw their sales increase 26.1 percent and 10.6 percent, respectively, year-on-year in March.

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