May 21, 2011

Majority of Japanese customers have everything they want so retailers struggle

“.. the most intractable problem for the retail sector is that the majority of Japanese have everything they need. There are fewer new Japanese taking the place of older consumers, and those who are coming of consumption age are facing poorer employment opportunities, thus giving them less guaranteed disposable income than their parents had when they entered the work force. This new layer of consumers grew up during a time when low price competition became the norm. They have been conditioned to seek out bargains and gain personal satisfaction from saving money.”

Source: Fast fashion is not what's ailing Japan's economy
By PHILIP BRASOR
The Japan Times: Sunday, Jan. 10, 2010
http://search.japantimes.co.jp/print/fd20100110pb.html

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