South Korea convenience-store payments hit record 3.66 trillion won in August

Payments at South Korea's four major convenience-store chains reached a record 3.6585 trillion won in August, according to an estimate from Wiseapp Retail.

The combined figure for GS25, CU, 7-Eleven and emart24 surpassed the previous high of 3.5522 trillion won recorded in August 2024. It was about 11% higher than the total three years earlier.

GS25 recorded the largest estimated payment volume, with CU close behind. Using GS25's figure as 100, CU stood at 96.1, followed by 7-Eleven at 47.1 and emart24 at 22.0.

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Demand was high for representative summer products such as beer, functional drinks and ice cream as the heat continued through the end of August.

The four brands had 39.02 million unique payers during the month. Each payer made an average of 15.2 payments totaling 93,834 won, or 6,165 won per transaction. Men accounted for 71.1% of payers and women for 28.9%.

Wiseapp Retail based its estimates on South Korean credit and debit card transactions. The figures do not include bank transfers, cash, gift certificates or payments made through partner companies, so they may differ from the chains' actual sales. GS25 said prolonged hot weather supported demand for beer, functional drinks and ice cream, while sales of prepared food, bread and fresh produce also rose. Sales of small-pack vegetables increased 76.8% year on year, and livestock products rose 42.6%, the company said.

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Sales of fresh food rose the most year on year as demand for nearby grocery shopping increased.