Retail sales decreased by 7% in October 11:52 on November 28, which is lower than the previous consumption tax increase
Last month and October, domestic retail sales were down 7% compared to the same month last year. In addition to the reaction to the last-minute demand accompanying the consumption tax hike, there was also a typhoon and so on, which was a bigger drop than the previous five-year tax hike.
According to the “Commercial Dynamics Bulletin” released by the Ministry of Economy, Trade and Industry, the nationwide retail sales amount last month was 11.09 trillion yen, a 7.1% decrease from the same month of the previous year.
This is more than minus 4.3% in April 2014 when the consumption tax rate was raised last time.
“Department stores” decreased by 17.3% and “Home appliance large specialty stores” decreased by 14.2% due to the reaction to last-minute demand accompanying the increase in the consumption tax rate and the closure of stores due to the impact of the typhoon. It has been reduced.
On the other hand, “Convenience stores”, which offer cashless payment points, increased 3.3%.
According to the Ministry of Economy, Trade and Industry, “There seems to have been a reaction to the rush in demand for refrigerators, washing machines, etc., and the decline has increased due to the overlap of various factors such as a typhoon and a decrease in visitors to Japan due to worsening relations between Japan and Korea.” Explains.