Sales at South Korean Convenience Stores Skyrocket

Along with a growing number of convenience stores, sales have advanced 31.4% from a year ago.

April 01, 2016

SEOUL, South Korea – Driven by lunch boxes and precooked food products, sales at South Korean convenience stores have risen 31.4% compared to a year earlier, the Korea Joongang Daily reports. The Ministry of Trade, Industry and Energy released the numbers this week.

With a high number of single-person households (23.9% of the total population in 2010), more South Koreans are purchasing single meals from convenience stores. Overall, the number of convenience stores in the country has reached nearly 26,000.

“Hikes in cigarette prices helped convenience stores do better last month. … Additionally, there were many customers who bought mobile phone chargers and medicine at these stores,” the ministry said in a statement.

Sales of household goods jumped 23.5%, while precooked foods soared 52.4% compared to a year ago. Total transactions in February advanced 19.4% at convenience stores, while monthly sales have remained on an upward trajectory since 2013.

In comparison, large department and retail stores have seen sales slip, with discount chains dropping 7% in sales and department stores falling 1.9% compared to the previous year. 

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