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Super September sales growth up to 2.8% without food tax increase

2019-10-24T08:21:41.127Z

Last month of major supermarkets nationwide Sales in September rose the same month last year for the first time in six months due to the effect of so-called last-minute demand before the consumption tax hike ...



Super September sales growth of only 2.8% Oct. 24 at 17:18 without food tax increase

Last month in major supermarkets nationwide Sales in September exceeded the same month last year for the first time in six months due to the effect of so-called rush demand before the consumption tax rate increase, but food products with reduced tax rates were almost flat. The overall sales growth rate is lower than when the consumption tax rate was raised five years ago.

According to the Japan Chain Store Association, last month's sales of over 10,000 major supermarkets totaled 1,017.2 billion yen, surpassing the same month last year for the first time in six months.

This was due to strong sales of home appliances and cosmetics due to the so-called last-minute demand before the consumption tax rate hike.

However, “groceries”, which account for more than 65% of sales and most products are subject to reduced tax rates, and “clothing”, where the sales of autumn clothing did not move due to high temperatures, were almost flat. .

As a result, the overall sales growth rate was only 2.8%, far below the 9.4% when the consumption tax rate was raised five years ago.

“The overall rush demand has not been large because the food tax rate has been deferred, so the decline due to the reaction is expected to be small, but the impact is expected to settle down next month.” I want to watch if consumption will recover after that. "

Source: nhk

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