SEOUL — Online shopping in South Korea experienced a notable uptick in February, recording an 11 percent year-on-year increase, largely driven by the Lunar New Year holiday demand.
According to Yonhap News Agency, the total value of online transactions reached 18.98 trillion won (approximately US$14.09 billion) in February, setting a new record for the month.
The surge in online shopping was attributed to a 48.9 percent increase in demand for agricultural and fisheries products, which totaled 1.09 trillion won. This boost was linked to the Lunar New Year celebrations, which took place from February 9 to 12. An official from the agency highlighted that various discount events for agricultural products, organized in response to high inflation, also contributed to the growth in sales.
Furthermore, the data revealed a 20.9 percent rise in online sales of food items and beverages, reaching 2.58 trillion won. Travel and transportation services experienced a 21.6 percent increase in online sales, amounting to 2.14 trillion won. However, the demand for communication devices, computers, and related gadgets saw a decline, dropping by 21.7 percent and 4.9 percent, respectively.
Purchases made through smartphones, tablets, and other mobile devices rose by 12.1 percent compared to the previous year, accounting for 74.8 percent of total online sales in February.