Three major department stores Sales decline in the first half of September Corona's influence continues September 15, 18:07
Sales at three major department stores fell 26% to 38% in the first half of this month compared to the same period last year, partly due to sluggish customer visits due to the impact of the new coronavirus.
According to the announcements of each company, sales from the 1st to the 14th of this month decreased by 38% at Daimaru Matsuzakaya Department Store, 32.8% at Mitsukoshi Isetan Holdings, and 26.3% at Takashimaya compared to the same period last year. Compared to the first half of, the rate of decrease is widening.
Duty-free sales of foreign tourists, who supported the business performance before the spread of the infection, fell by more than 90% at each company, and last year there was a rush in demand before the consumption tax hike. In reaction to that, sales decreased.
Department store companies are focusing on new initiatives to stimulate consumption by those who refrain from going out, such as strengthening sales using telephones and the Internet as a countermeasure against the new coronavirus, and hope to lead to a recovery in sales.