‘Corona 2020’ seen with big data… Evaporation of 9 trillion won in store sales, a decrease of 750 million people in train transportation

A year after the new coronavirus infection (Corona 19) landed in Korea. The social impact of the past year of Corona 19 was analyzed with big data. The target is Seoul, where the largest number of confirmed cases occurred among domestic cities and provinces. With the social distancing culture in place, each crisis has crossed a hurdle, but ironically, the economic damage to self-employed people has been even greater. Even for the same self-employed, Corona 19 was more painful for small businesses.

According to the data released by the Seoul Metropolitan Government on the 10th of “Corona 1 year for citizens of Seoul through big data”, out of about 310,000 companies that have operated in Seoul for more than four years, the average annual sales volume of the bottom 30% companies decreases in the top 30% It was bigger than that. According to a survey by credit information company Korea Credit View (KCB), in the leather goods retail sector such as textiles, clothing, and shoes, sales of the top 30% of companies in sales decreased 28% from last year. However, during the same period, sales of the bottom 30% companies decreased to 53%, which was 1.9 times larger.

It was the same in other fields. In the restaurant industry, sales of the top 30% companies decreased by 21%, but the sales of the bottom 30% companies decreased by 27%, a further 6 percentage points. In the case of the beverage industry that sells alcoholic beverages, including cafes, the decline in sales of small-sized companies was 35%, which was 8 percentage points higher than that of the top-tier companies in sales (27%).
The Seoul Metropolitan Government analyzed that “27% of the business owners of small businesses with the bottom 30% of sales were in their 60s or older, and the proportion was relatively high compared to the top 30% of sales.” It would have been difficult to actively respond to social changes caused by Corona 19. did.

There was also a difference in the pattern of damage by commercial district. Due to the sharp drop in foreign tourists, sales of tourism commercial areas such as Myeongdong and Itaewon were hit hardest. When the monthly average sales for October-December 2019 were set at 100%, the average monthly sales of tourism commercial districts after the coronavirus outbreak was only 71%. In September, just after the’second epidemic’ of the Sarangjeil Church and Liberation Day urban rally, it fell to 62%.

University commercial districts suffered a similar blow as college students switched classes online instead of attending school. The average monthly sales of 12 university commercial districts including Konkuk University, Hongik University, Ewha Womans University, and Daehak-ro fell to 74% of the second half of the previous year. On the other hand, sales in local commercial areas, such as Guro-gu apartment complexes and Munjeong Station, with a high residential ratio, were at 89% of the previous year, better than tourism and university commercial areas. The average monthly sales of retail commercial districts such as Euljiro 3-ga, Sinseol-dong and Yeongdeungpo Station were around 90% of the previous year.

The spread of social distancing, such as working from home, remote classes, and refraining from going out, also affected the number of visitors to Seoul such as commuting. Corona damage was more severe in business and commercial districts than in areas with a high proportion of residential. In the case of Jung-gu, which is considered a representative business and commercial area, the’living population’ decreased by 38.6% on weekends and 29.8% on weekdays. Analyzed.

The living population includes not only the population living in Seoul, but also the suburban population who visits for the purposes of commuting, tourism, medical treatment, and school. The fact that the living population has decreased means that the movement of the population from residence to destination has decreased. As a result of analyzing the movement data of the living population, the Seoul Metropolitan Government analyzed that the amount of movement in Gangnam-gu -18%, Jung-gu -25%, and Jongno-gu -23% decreased based on destination. Last year, the number of people transported on the Seoul subway has dropped sharply by 747.12 million (27.4%) from the previous year.

The Seoul Metropolitan Government analyzed that “the reduction of the living population in the business and commercial districts, the movement of people in autonomous areas, and the decrease in the use of public transportation confirmed the active participation of citizens in distancing,” and “the resulting economic shock was serious.” In particular, it is an analysis that the first and second epidemic of Corona 19 began during the Lunar New Year holidays, the new semester season (February-March) and summer holidays and Chuseok (August-September), when store sales are concentrated.

As a result of analysis by the Seoul Institute and Shinhan Card, last year’s total store sales decreased by about 9 trillion won from the previous year. The biggest hit in terms of sales was the Korean food industry, which fell by 2.6 trillion won. The sales of the other catering industry and the aquaculture and Chinese food businesses all decreased by 1.7 trillion won. In terms of the rate of decline, the sales of duty-free shops and travel agencies decreased by 2217 billion won (82.4%) and 97.4 billion won (64.6%), respectively.

However, sales in the medical sector increased. Last year, sales of pharmacies and general hospitals were 2857 billion won and 256.9 billion won, respectively, higher than the previous year. Looking at the growth rate, homework increased and the furniture industry’s sales increased by 62.3 billion won (22.4%). In addition, sales of online and payment agency services increased by more than 4 trillion won, partially offsetting the decrease in store sales.

Accordingly, there are voices that the damage support should be strengthened by subdividing the affected areas and industries. Lee Won-mok, Seoul’s Smart City Policy Officer, said, “We will make public welfare a top priority through scientific administration, such as establishing a post-corona policy based on data.”

Reporter Heo Jung-won, Graphic = Reporter Park Kyung-min [email protected]