According to statistics released by the Japan Department Store Association on the 20th, Japan’s national department store sales in April were 417.2 billion yen, down 12.0% year-on-year and 38.8% from the previous month. This is the first time in six months that the number has appeared. Compared with the year-on-year decline, among all the merchandise categories, the decline in valuable goods such as art, jewellery and precious metals was as much as 38.9%.
Japan has raised its consumption tax from 5% to 8% since April 1. The April statistics show that the retail industry has received a relatively large impact.
The previous month's data, that is, the sales of Japanese national department stores in March increased by 25.4% year-on-year, totaling 681.8 billion yen, especially for valuable commodities, which more than doubled year-on-year. Many Japanese citizens rushed to formally increase taxes in April, and the emergence of “spurt-type†concentrated consumer demand was the reason why the data gap between March and April was so wide.
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