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Although Japan's clothing retail sales increased year-on-year in May, it still did not recover
Although Japan's clothing retail sales increased year-on-year in May, it still did not recover
  • Categories:Industry News
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  • Time of issue:2021-07-14
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(Summary description)To prevent the spread of the epidemic, the Japanese government implemented the third state of emergency from April 25 to June 20. During the implementation of the state of emergency, large-scale commercial facilities were closed, the target area was expanding, more stores were forced to close or shortened their business hours, and the passenger flow and purchasing power slowed down, which also had a negative impact on clothing retail.

Although Japan's clothing retail sales increased year-on-year in May, it still did not recover

(Summary description)To prevent the spread of the epidemic, the Japanese government implemented the third state of emergency from April 25 to June 20. During the implementation of the state of emergency, large-scale commercial facilities were closed, the target area was expanding, more stores were forced to close or shortened their business hours, and the passenger flow and purchasing power slowed down, which also had a negative impact on clothing retail.

  • Categories:Industry News
  • Author:
  • Origin:
  • Time of issue:2021-07-14
  • Views:0
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(Source: China Chamber of Commerce for Import and Export of Textiles) To prevent the spread of the epidemic, the Japanese government implemented the third state of emergency from April 25 to June 20. During the implementation of the state of emergency, large-scale commercial facilities were closed, the target area was expanded, more stores were forced to close or shortened their business hours, and the passenger flow and purchasing power slowed down, which also had a negative impact on clothing retail.


  ◆The 4th state of emergency exacerbates downside risks

   The private economic forecast issued by the Japan Economic Research Center on July 8 shows that Japan’s actual GDP is expected to return to its pre-epidemic level by the end of the year. As vaccination progresses, consumption will resume and exports will also play a role. Personal consumption was affected by the third emergency declaration, which declined from April to June, but will maintain growth after July to September. Due to the worsening of the epidemic situation, in July, many regions in Japan entered the fourth state of emergency, which lasted from July 12 to August 22. This will undoubtedly increase the risk of economic downturn.

  ◆Clothing and accessories: No obvious signs of recovery for the time being

   In May, the retail sales of textiles and apparel in Japan increased by 17% year-on-year. In the first five months, the cumulative retail sales of textiles and apparel in Japan was 3.4 trillion yen, basically the same year-on-year, and still maintaining the sluggish state when the epidemic broke out last year.

   Compared with 2019, Japan's textile and apparel retail sales fell by 29% in May, and the cumulative retail sales in the first five months still fell by as high as 25%, showing no obvious signs of recovery.
 

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