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Annual retail event 'Korea Sales Festa' boosts domestic spending Updated: 2020-11-20 17:02:27 KST

South Korea's largest sales event "Korea Sale Festa" has given local firms a welcome boost this November.
The Ministry of Trade, Industry and Energy announced on Friday that during the 15-day event, credit card spending amounted to 33.5 billion U.S. dollars, up 6.3 percent on-year.

"Retailers, including off-line stores, saw an increase in sales through the sale festival even though the economy was hit hard by the COVID-19 pandemic."

The festival included more than 1,700 major retailers, manufacturers, and traditional markets across the country this year twice as many as last year.
Sales of tires rose by 75.5 percent, and electronic appliances were up by 49.5 percent.
And auto sales also saw a huge increase.

"Special promotions by the five automakers that took part in the festival boosted spending raising car sales in the nation by more than 30-percent."

During the sales event, an average of more than 7-thousand cars were sold each day.
And around a thousand of those were eco-friendly cars a 155 percent increase on the same period last year.

"With the 'Korea Sale Festa' and the release of our new model in November, we had more than 2-thousand cars being sold in a week. I have been getting a lot of calls from consumers about the event, and those who visit our dealership have been asking about it as well."

As well as domestic sales, more than 2-thousand one-on-one business meetings were arranged online to help local companies find buyers overseas.
Bae Eun-ji, Arirang News.
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