Japan'S Retail Cooling And Insufficient Domestic Demand Start To Follow Hong Kong'S Lead

The current pattern of China's economy can't be better than "pulling the trigger and moving the whole body". Recently, the strong tourism consumption in China has affected the development of the global retail industry. Since Hong Kong is no longer a "shopping paradise", the once depressed retail industry has attracted global attention. Japan, which also relies on tourism to promote economic development, seems to be about to enter Hong Kong Later.

Due to the recent decline of the RMB index, the RMB has depreciated slightly against the Japanese yen and the Hong Kong dollar. Since last July, the RMB has depreciated about 10% against the Japanese yen. From July 2014 to July 2015, the RMB has soared about 20% against the Japanese yen, which also led to the doubling of the number of Chinese tourists visiting Japan last year. However, since July, the devaluation of the RMB has reduced the number of Chinese tourists visiting Japan, which has also aroused the vigilance of Japanese tourism officials on the market, thus increasing tourism publicity to European and American countries, in the hope that the Japanese consumer market will not be oppressed by the sharp decline in the number of Chinese tourists visiting Japan.

However, despite this, the number of China's visits to Japan still fell from more than 590000 in August to the lowest point of the year in December. However, it still reached a record high and became Japan's largest source of foreign tourists. The most popular thing for the wealthy Chinese traveling in Japan is to buy luxury goods, because Luxury brand There is still a small price difference between the Japanese market and the Chinese mainland. Therefore, buying luxury goods has become a more important goal for Chinese tourists visiting Japan. At the same time, coupled with the lack of domestic demand in Japan, it has also become an important launch point for Japan's efforts to rectify the luxury market.

However, with the exchange of RMB against Japanese yen depreciation As a result, the cost of tourism consumption increased, and the domestic economic growth hit the lowest level in 25 years, which further weakened the demand for tourism consumption. Therefore, Japan's tourism industry has driven the growth of retail sales. With the devaluation of the RMB, it has also felt the cold wind. In order not to follow the example of Hong Kong's retail industry, Japan should develop other industries to shift its dependence on tourism in addition to increasing tourism publicity to European and American countries.

What's more interesting is that we value the growth points driven by the Japanese market and the Korean market, and some brands have switched to the Japanese market and the Korean market. For example, Dior opened the world's largest flagship store in Japan, and Adidas followed suit, which shows this attitude of luxury brands. However, luxury brands waiting for market feedback may disrupt the layout rhythm of these brands with the devaluation of the RMB against the yen.