Consumer sentiment has frozen, showing a 4% drop in restaurant sales this month.
On the 29th, Kim Hyun-jung, a member of the National Assembly from the Democratic Party, noted that according to data received from Shinhan, KB, Samsung, and Hyundai Card, sales from the four card companies from the 1st to the 20th of this month amounted to 28.2045 trillion won, a 2% decrease from the same period last month (28.7997 trillion won). Compared to the same period last year (27.5155 trillion won), it shows a slight increase.
In particular, as year-end gatherings and company dinners have decreased, sales at restaurants and entertainment venues have declined. From the 1st to the 20th of this month, KB Kookmin Card's sales at restaurants and food sellers were 711 billion won, a 4% decrease from the previous month (740.5 billion won). Compared to the same period last year (716.7 billion won), it also saw a slight drop.
Samsung Card's sales at general restaurants were 576.3 billion won, a decrease of 4.2% compared to last year (601.3 billion won) and a 4.1% decrease compared to the previous month (601 billion won). Sales in the entertainment sectors, such as karaoke rooms, nightclubs, and bars, plummeted to 20 billion won, down 13.8% from last year (23.2 billion won).
In contrast, sales in the retail sector, such as department stores, increased due to demand for year-end and New Year gifts. Sales at Shinhan Card's department stores rose to 208.8 billion won, reflecting an increase of 3.1% from last year and 4.7% from the previous month.
Spending on education-related activities also increased. KB Kookmin Card's sales in the education sector reached 157.5 billion won, up 10.6% from last year, while Samsung Card's sales in the academy sector amounted to 213 billion won, reflecting a 7.5% increase during the same period.