Department store sales in February down 12% March more serious New Corona March 24 18:45
Last month, department store sales nationwide fell 12% year-on-year in the same month of last year due to lower visitor numbers due to the spread of the new coronavirus, as well as lower duty-free sales for foreign tourists. Sales this month have fallen even more, and the impact has become more severe.
According to the Japan Department Stores Association, sales of department stores nationwide last month were more than ¥ 366.1 billion, a 12.2% decrease compared to the stores that were open one year ago. The decrease in sales is the fifth consecutive month.
This was mainly due to the spread of new coronavirus infections, which reduced the number of visitors coming to Japan and reduced the number of visitors, and reduced duty-free sales of foreign tourists by 65.4%.
According to some department stores, sales from the beginning of this month to the 17th have dropped by around 40% compared to the same period last year.
In particular, duty-free sales have fallen sharply, by around 80%, and the spread of infection has had a serious impact.
According to the Japan Department Stores Association, "The problem of the new coronavirus is a major headwind beyond the Lehman Shock and the Great East Japan Earthquake. If this situation continues, it is likely that March will be the largest drop in March."