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Sales at department stores, supermarkets drop in September

Oct. 27, 2014 - 20:29 By Korea Herald
Sales at discount outlet chains and large department stores fell in September, largely due to less shopping during the country’s traditional holiday of Chuseok, the government said Monday.

Combined sales at the country’s three major discount outlet chains plunged 10.1 percent on-year last month, a turnaround from an on-year increase of 3.2 percent in the previous month, according to the Ministry of Trade, Industry and Energy.

The drop was partly attributed to two fewer business days due to the Chuseok holiday from Sept. 7-9.

The overall sales also decreased by a relatively large margin due to a drop in gift sales for the Chuseok holiday, which came earlier this year than usual, the ministry said in a press release. Chuseok, which celebrates the annual harvest, falls on Aug. 15 of the lunar calendar, and people often shop weeks in advance.

The on-year increase in sales at the three major discount outlet chains ― E-Mart, Homeplus and Lotte Mart ― in August was attributed to such early shoppers.

Both the total number of purchases and the average amount of each purchase decreased 3.6 percent and 6.7 percent on-year, respectively, in September. (Yonhap)