Retail sales increase in February Impact of new coronavirus March 31 at 13:59
Last month, domestic retail sales in February increased 1.7% overall compared to the same month of the previous year. Sales of department stores declined due to a decrease in foreign tourists, but sales of supermarkets and other foodstuffs and toilet paper increased, boosting overall sales.
According to the commercial dynamic statistics released by the Ministry of Economy, Trade and Industry, retail sales in Japan nationwide last month were ¥ 11,228 billion, an increase of 1.7% compared to the same month in the previous year.
It is the first time in five months that sales have increased since last September, when there was last-minute demand before the consumption tax hike.
Sales at department stores fell 11.8%, largely due to a decrease in foreign tourists due to the spread of the new coronavirus.
On the other hand, drugstores increased significantly by 18.9%, home improvement increased by 9.6%, and supermarkets increased by 6%, respectively, and sales of foodstuffs, masks, toilet paper, etc. increased significantly.
According to the Ministry of Economy, Trade and Industry, the spread of the new coronavirus has caused consumers to refrain from going out, increasing their purchases of food, and buying some items.
Regarding future prospects, the Ministry of Economy, Trade and Industry stated, “While some products will spend more time at home and consume more, there is a risk that sales will decrease due to reduced business hours, self-restraint of going out, and a downturn in the economy. You need to look at it. "