MERS Throws Cold Water on Domestic Demand
As more and more people stayed at home without going out due to the fast spread of the Middle East Respiratory Syndrome (MERS), the number of those who went to major theme parks, discount stores, model homes, department stores, baseball stadiums, and movie theaters during the past weekend dampened.
After showing signs of recovery in recent months, domestic demand is now at the risk of falling again due to the spread of the MERS virus. According to the Korean Film Council, the number of movie ticket sales stood at 687,872 on June 6, down 19.2 percent from 851,251 a week ago.
A string of new films decided to delay their opening days, while the number of concerts delayed is increasing day after day.
Department stores and other retailers are also down in the dumps with the decline in the number of shoppers. Lotte, Hyundai, and Shinsegae Department Stores saw their sales fall by 5.0-8.7 percent during the period from June 1 to 6, compared to a year ago.
E-Mart, Lotte Mart and HomePlus also suffered a decline of 12.0-12.4 percent in sales during the same period.