Sales at South Korea's major discount outlets and department stores dropped in March, the government said Tuesday, possibly indicating that people are cutting back on their spending amid concerns that the economy may lose its growth momentum.
  

The combined sales of the country's three major discount outlet chains dropped 6.5 percent from the same month last year in March, according to the Ministry of Trade, Industry and Energy. The drop marked a sharp turnaround from a 23.5 percent on-year spike posted in February.
  

Such a drop came as the people apparently cut spending on luxury goods while also reducing their spending on daily necessities.
  

Sales of sporting goods and clothes at the three discount outlet chains plunged 12.7 percent and 10.6 percent on-year, respectively, while sales of home supplies and food also shrank 5.8 percent and 5.1 percent.
  

The three discount outlet chains are E-Mart, Homeplus and Lotte Mart.
  

The overall number of sales at the discount outlet chains dropped 2.5 percent on-year with the average amount of each purchase shrinking 4.1 percent, according to the ministry.
  

The combined sales of three major department store chains also dropped 5.7 percent on-year in March, marking a turnaround from a 6.6 percent gain in the previous month.
  

The drop came mostly from a reduction in the number of people shopping at department stores.
  

In March, the total number of purchases at the three department store chains -- Hyundai, Lotte and Shinsegae -- fell 5.4 percent on-year while the average amount of each purchase inched down 0.4 percent.
  

Sales at super supermarkets slipped 4.7 percent on-year last month while sales at convenience stores spiked 23.1 percent. (Yonhap)