Japan's retail sales fall for 7th straight month

By Yoshifumi Takemoto

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If there was even a semblance of leadership and effective plans to keep people afloat during the early days of the pandemic consumer confidence wouldn't have tanked as it has. Consumer spending is not only economical but also psychological, the average consumer saw how ineffective the LDP were and are now holding onto their cash for only essential items.

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Retail sales fell 8.7%

Isn't this fully explainable by not having Chinese tourists?

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Retail numbers will never return to 2019 numbers and reasons for that are easy to see if you want to see them.

the quasi disappearance of tourist spending means it can no longer compensate the constant slow decline in domestic retail spending caused by a declining population aggravated by the fact that the older generations are the bigger spenders in Japan.

by the time tourism returns , the population decline will have progressed to far to return to 2019 retail numbers.

on top of that and for the first time since long many companies are firing people an winter bonusses get cut

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