politics

Thrift trumps Abenomics as Japan shoppers stick to bargains

23 Comments

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

© (c) Copyright Thomson Reuters 2013. Click For Restrictions - http://about.reuters.com/fulllegal.asp

©2022 GPlusMedia Inc.

23 Comments
Login to comment

The emperor has no clothes.

7 ( +7 / -0 )

If luxury items are flying off the shelves then the wealthy are benefitting from Abenomics. If the middle-class and poor are still buying cheaper products then they're not.

Wages have remained stagnant. There's no amount of "convincing" to make them spend more of something they don't have.

8 ( +8 / -0 )

Everyone is waiting to see how we are going to repay all the money Abe has printed from the air

6 ( +7 / -1 )

Everything has gotten more expensive, while salaries have remained low. Why would anybody increase spending given these facts?

3 ( +5 / -2 )

To whom does one repay for money that one prints? I think that it is already paid from the pockets of all money holders in the form of inflation.

-1 ( +4 / -5 )

This is just the consumer being sensible, the consumer now knows how long that they were being conned by overpriced goods not only brand goods. I think the economic downturn has been a good exercise in frugality. When there is an abundance of spare cash people are wasteful, they buy things they don't need, plus are fooled by the Brands "quality comes at a price" the consumer now realises that this is not always true. Now I think, its like, "I want it, but do I really need it mentality". The economic climate, regarding employment has changed dramatically here in Japan, employees are no longer secure of long term full time employment, The 18-25's are finding it difficult to find work, and if you lose your job at 50 you have no chance. So where some people are praising "abenomics" I'll reserve my opinion.

0 ( +2 / -2 )

just print more money and give 5 million yen to every household, we'll buy stuff with that money.

2 ( +4 / -2 )

Abenomics is starting to show its holes, and this is not the first nor the latest. Just this morning on other news sites that along with the once again rising yen Japan is about to lose it's global position as leader in stock markets, imports are costing too much, and as also mentioned the promise of gains in wages hasn't been realized one bit.

4 ( +6 / -2 )

exactly!!! if prices rise yet salaries are stagnating, where is this magical increase in spending coming from!?!? its only the wealthy that can really take advantage of the increase in the Nikkei index.. the rest of us? fat chance

5 ( +5 / -0 )

I've said this before,The late George Carlin said many times about the rich 1% "its a big club but we're not in it", and by that he meant us the 99%. Oh! how true.

4 ( +5 / -1 )

an Aeon Flux as it were

-3 ( +0 / -3 )

Why on earth does anyone, except for the materialistic, vain and gullible, need luxury items?

0 ( +2 / -2 )

Raise prices, deplete the people's assets and expect them to spend more is the essence of Abenomics.

4 ( +4 / -0 )

I don't think it is the prices. The rich politicians simply completely fail to grasp the amount of uncertainty common people feel in their lives. Like will I have a job tommorow? Will I have a pension the day after tomorrow? Prices rising 2% next year is simply not on their radar Politicians just completely fail to read the breeze.

2 ( +2 / -0 )

smithinjapanJul. 13, 2013 - 01:01PM JST

imports are costing too much, and as also mentioned the promise of gains in wages hasn't been realized one bit.

Yeah I was watching that. Only an idiot could have been surprised that this was the result, some of us having been saying that on here for the last 8 months.

The average Japanese Joe was never part of the Abenomic's mindset, only the big multinationals who support the LDP. Just like after this election the average Japanese Joe will take second place to those same big economic interests with Abe changing the employment laws.

The elites in Japan think that the average Japanese Joe will just suck it up and stay silent, and sadly they're right.

1 ( +4 / -3 )

The elites in Japan think that the average Japanese Joe will just suck it up and stay silent, and sadly they're right.

How true....Abenomics is borrowing from the future of Japan. This is not free, and the average Japanese Joe will be paying for it. No way out.

1 ( +2 / -1 )

"This is not free, and the average Japanese Joe will be paying for it."

Please explain specifically how and what Japanese consumers will "pay" in the future.

-1 ( +0 / -1 )

JeffLeeJul. 14, 2013 - 06:19AM JST

"This is not free, and the average Japanese Joe will be paying for it."

Please explain specifically how and what Japanese consumers will "pay" in the future.

I feel like I am talking to a kid with no economic background.

It has to be disclosed by your government. It will be huge!!

0 ( +0 / -0 )

Please explain specifically how and what Japanese consumers will "pay" in the future.

http://www.theregister.co.uk/2013/06/14/japan_nsa_internet_snooping_bad_timing/ http://www.nisc.go.jp/active/kihon/pdf/cyber-security-senryaku-set.pdf

Abenomics is paying for this new NSA type cyber-spying tech. Energy rates and threats of increases are on the rise. You can assume that fuel costs will go up with the increase in import price (inflation). True costs of Fukushima in productivity and health. With the low interest rates -speculators can use this money to drive up costs of commodities or at least make the prices more volatile (more money made on the higher volatility).

As a positive: Large ticket items like Japanese made cars will be cheaper outside of Japan. ==> This takes awhile but I saw some discounted motorcycles -2012 CBR600rr for $10K -when usually they are $12K otd (out the door). When the prices drop, more people will buy and you do see an interest in increasing capacity in Japan and even in building more manufacturing capacity.

0 ( +1 / -1 )

"I feel like I am talking to a kid with no economic background."

So answer my question.

Badsey3 I didn't realize that Abenomics is exclusively responsible for high energy prices and cyber-snooping. Call me naive, but those things, as well as low interest rates, are rampant in other countries, too, including ones whose macroeconomic policies are diametrically opposed to Abenonomics.

0 ( +1 / -1 )

A couple of questions. First, why are the rich now going crazy buying luxury goods? I know the Nikkei has risen to about 14000. but unless they are like day traders, buying and selling stocks everyday, have they made such a huge profit so quickly? Second, with prices going up, why are they buying now, it would have been cheaper a few months ago to buy when the yen was strong, and they had more purchasing power. I wonder if some of these department stores are not getting confused by the super rich from China who are coming to Japan and buying lots of luxury goods with Japanese customers. Thus they can show PM Abe that his policies are working, when in fact they are failing completely!

-1 ( +1 / -2 )

The small problem with the "abemomics" is that the so called printed money is no where to be seen, not sure who is actually getting it.

0 ( +0 / -0 )

Login to leave a comment

Facebook users

Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.

Facebook Connect

Login with your JapanToday account

User registration

Articles, Offers & Useful Resources

A mix of what's trending on our other sites