Korean retailers' Q3 confidence drops

South Korean retailers' business sentiment will remain weak under the current quarter, a survey showed Wednesday, as many expect a continued slump for all related businesses except for e-commerce.

The Korean Chamber of Commerce and Industry said its retail business survey index stood at 96 for the third quarter of the year, down from the 98 recorded a quarter earlier.

It's based on a poll of 941 retail businesses in Seoul and six other major cities nationwide. A reading below 100 means that pessimists outnumber optimists.

The index rebounded to 98 for the April-June period from 96 for the first quarter.

"The RBSI, which rose marginally for the second quarter, has dropped again, as the recovery of consumer sentiment slows," the KCCI said.

Offline retail businesses, it added, will likely continue to suffer troubles due to steep competition and the spread of small-scale purchases amid an increase in the number of one-person households.

In fact, Internet-based retailers were optimistic that their businesses would improve in the next quarter. Their RBSI stood at 110, almost the same as the 111 tallied for the second quarter.

All others, however, stayed below the bar. The index for department stores fell to 94 and for large outlet stores 92.

Supermarkets also dropped to 92. The RBSI climbed to 97 for home shopping operators and 88 for convenience stores. (Yonhap)