Consumer spending rises after MERS

By Park Sae-jin Posted : July 30, 2015, 17:08 Updated : July 31, 2015, 17:24

 

Lotte Department Store in Sogong-dong, central Seoul, is crowded with shoppers on Wednesday after the government declared the de facto end of the Middle East Respiratory Syndrome (MERS) crisis. Lotte, South Korea's largest department store chain, began to sell products at 30 to 80 percent discounted prices at its stores nationwide in a bid to rekindle sales and revive consumer sentiment hit hard by the outbreak of the viral respiratory disease in the country. The MERS scare had dealt a serious blow to domestic consumption since the government confirmed the first outbreak of MERS on May 20. Major retailers - Lotte, Hyundai and Shinsegae department stores - saw their combined sales fall 10.7 percent in June from a year earlier. 
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Park Sae-jin Reporter
Park Sae-jin

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