Sales at department stores continue to be affected by consumption tax increase in November

Department store sales November 20th, 18:34

Sales at department stores nationwide were 6% lower than the same month last year due to sluggish sales of winter clothing in addition to the impact of the consumption tax hike. The decline was greater than the same period of the previous tax increase of 5 years ago.

According to the Japan Department Stores Association, the sales of department stores nationwide last month were just over 4937 billion yen.

Compared to the same store that was operating the same month last year, sales were down 6%.

Compared to a decrease of more than 17% in October immediately after the consumption tax hike, the decline was smaller.

However, since the last two months after the tax increase five years ago, it was a 4.2% decrease, so the decline is larger this time.

In addition to the decline in jewelry and fine arts due to the rush in demand, last month there were many hot days and sales of winter clothing such as coats and boots were not strong.

“Since there were some economic measures in the country, the Japanese department store association ’s executive director Shigeki Yamazaki thought that the decline due to rush demand and rebound was small, but as a result, both were large. The impact on consumption remains for half a year. ”

On the other hand, convenience store sales last month announced by the Japan Franchise Association increased 8% to 80.8 billion yen, an increase of 1% from the same month last year due to the effect of cashless payment point reduction.