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Japan looks to Christmas to boost retail

11-24-2011 11:00 BJT

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With Christmas approaching, Japan's battered economy is hoping for a boost. Leading up to the shopping season, retail sales are already gaining pace.

Decreased spending after the March disasters combined with supply shortages and inefficient logistics, led to tough times for many of Japan’s stores. But with Christmas around the corner, the nation’s retail market is hoping for a holiday boost to make up for losses. Already, sales at many stores are recovering, and even surpassing sales during the same period last year.

Soshi Hoyama, manager of Omotesando Shoppping Center, said: "Our September’s sales were higher than last year, and sales in October and this month so far are also higher than those in the same period last year."

Tourism is also giving Japan’s retail industry a boost. Visitors from other countries and regions can get a 5 percent tax refund if they spend more than 10 thousand yen, or about 130 dollars, on products, excluding cosmetics and clothes. Statistics from ChinaUnion Pay show that during the week-long national day holiday in October this year, tourists from the Chinese mainland spent about 3.3 billion yen, or 43 million dollars in Japan - through their card transactions alone.


Editor:Zhang Rui |Source: CNTV.CN

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