[Graphic News] Convenience store sales approach department stores

A recent report reveals that the sales gap between convenience stores and department stores has narrowed to less than 1 percentage point. According to the Ministry of Trade, Industry and Energy, convenience stores accounted for 16 percent of sales in the first half of the year compared to department stores’ 16.6 percent. In contrast, large supermarkets held an 11.3 percent share of sales.

Convenience stores surpassed large supermarkets in annual sales for the first time in 2021 and have maintained their position as the second-largest retail channel since then.

A shift in consumer spending habits has contributed to this trend, as shoppers spend less at department stores due to high prices. Meanwhile, the rise in sales at convenience stores can be attributed to increased demand from single-person and two-person households.