Fashion
Japanese supermarket sales edged down 0.2 per cent in a third consecutive year of declines, according to figures released by an industrial body this week showing last year’s financial performance. The data for last year shows sluggish consumption regardless of the country’s current period of economic growth. Observers have attributed the slump to a low demand for apparel in supermarkets relative to stronger sales in food.
Apparel sales fell 5.3 per cent, the 27th straight year of declines, influenced by the warm winter and increased competition with retailers online. Food, by comparison, saw 0.4 per cent higher sales with an uptick in prices for vegetables and sweltering summer temperatures.
While total sales rose 0.5 per cent to ¥12.99 trillion ($118.71 billion) last year, they still fell short of the hoped-for ¥13 trillion mark for the second year in a row.
“Spending is weak as a deflationary mindset is still deeply rooted among consumers”, said Atsushi Inoue, a senior official of the Japan Chain Store Association.
