The Korea Herald

피터빈트

Sales at S. Korea's discount outlets, department stores drop in Nov.

By KH디지털2

Published : Dec. 28, 2014 - 11:52

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Sales at South Korea's major discount outlet chains and department stores shrank nearly 5 percent in November from a year earlier, the government said Sunday, possibly indicating a deterioration in consumer sentiment.
  

Combined sales at the country's three major discount outlet chains slipped 4.7 percent on-year last month, marking an on-year drop for the third consecutive month, according to the Ministry of Trade, Industry and Energy.
   
The drop was mostly attributed to what the ministry called unusually high temperatures, which led to a fall in sales of seasonal products, such as winter sporting goods.
   
Apparently indicating a drop in overall consumer spending, the total number of purchases at the discount outlet chains decreased 1.7 percent on-year with the average size of each purchase also shrinking 2 percent.
   
The three discount outlet chains are E-Mart, Homeplus and Lotte Mart.
   
Sales at the country's three major department store chains also dropped for the third consecutive month in November with their total number of purchases and the average amount of each purchase falling 4.4 percent and 2.3 percent on-year, respectively, according to the ministry.
  
Overall sales of the three department store chains -- Hyundai, Lotte and Shinsegae -- dropped 6.5 percent on-year.
   
Sales at convenience stores, on the other hand, surged 9.1 percent on-year, continuing their on-year growth at least since December last year.
   
Sales at the super supermarkets, operated by large retailers, slipped 4.6 percent on-year. (Yonhap)