Annual sales at department stores decreased for 2 consecutive years 18:11 on January 22 due to consumption tax hike and unseasonable weather
Sales of department stores across the country for the past year have fallen 1.4% year-on-year for the second consecutive year. This was because sales of apparel were sluggish due to unfavorable weather and the warm winter, in addition to the rebound of the last-minute demand accompanying the consumption tax hike.
According to the Japan Department Stores Association, sales of so-called existing stores, which have been operating for one year, have been down for the second consecutive year, down 1.4% from the previous year.
The reason for this is that the association had a prolonged rebound from last-minute demand following the increase in the consumption tax rate, and the effect of unseasonable summer weather and the warm winter, which prevented sales of clothing.
In the three months after the consumption tax rate was raised in October last year, it decreased by 8.8% compared to the same period of the previous year, and after the consumption tax rate was raised to 8% six years ago. This was a decrease of 2.5 points over the three-month drop.
"Despite the bright topics such as the reform, there were more negative factors such as the consumption tax hike and unstable weather. Some people have heard that the recovery is lagging in rural areas, and it will take about a year for the effects to disappear. "