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Department store sales drastically cut last month due to tax increase, typhoon and heavy rain

2019-11-22T08:07:40.529Z

Sales of department stores nationwide last month were the same as those of the previous year due to the impact of typhoons and heavy rains in addition to the backlash of rush demand accompanying the increase in the consumption tax rate.



Department store sales drastically reduced Tax increase, typhoon and heavy rain Last month November 22, 16:58

Sales of department stores nationwide dropped sharply by 17.5% compared to the same month of the previous year due to the impact of typhoons and heavy rains in addition to the reaction to last-minute demand accompanying the increase in the consumption tax rate.

According to the Japan Department Store Association, sales of department stores nationwide last month were over 38.6 billion yen.

Comparing stores that are still in business, the decline was 17.5% below the same month last year.

This was a reaction to the last-minute demand before the consumption tax rate hike.Last month, sales of a wide range of products such as luxury watches, jewelry, cosmetics and women's clothing did not show up. The reason is that the number of customers has decreased due to shortening.

Last year, when the tax was raised five years ago, the sales in the month immediately after fell 12%, and the decline this time has increased by more than 5 points. I think that it is about.

The Japan Department Store Association says, “Is the effect of the tax increase going on for about a year? I hope that sales will return as much as possible at the year-end shopping season next month.”

Source: nhk

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