South Korea April department store sales hit a three-month peak
In April, South Korean department store sales edged up at the fastest tempo for three months, according to the final government data issued on Monday. It’s because warmer weather as well as more holidays in that month opened customers’ wallets.
In April, combined sales at department stores run by Lotte Shopping, Hyundai Department Store and Shinsegae Co went up 4.3% from the previous year, as the Ministry of Trade, Industry and Energy states.
It definitely accelerated from a 0.3% soar in March and appeared to be the best performance since January’s 9% leap.
An extra public holiday in mid-April due to the parliamentary election greatly assisted to drive sales, already backed up by warmer-than-usual weather.
Sales of well known foreign brands edged up the most among department store goods, leaping 8.6% on-year in April because last month the average daily high temperature hit 20.3 degrees Celsius, which is 18.8 degrees higher than last April.