Japan's economy shows signs of weakness, and high-quality and low-priced products are most popular

It is reported that Japanese Prime Minister Yoshihide Suga said on Tuesday that the state of emergency in Tokyo and other regions will be extended until March 7, which may reduce Japan's consumption by 3.6 trillion yen .

Experts said that Japan's first state of emergency, which lasted from April to June, required people not to go out and interrupt unnecessary business, led to a 29.2% contraction in the economy , the worst recession in history. However, after entering the state of emergency this time, exports were relatively active, so the Japanese economy will not shrink significantly.

With the surge in COVID-19 cases in various parts of Japan and the extension of the state of emergency, Japan's economy will show an overall downward trend from January to March, causing Japanese households to reduce consumption and increase savings. The survey found that Japan's consumer confidence index is generally on a downward trend.

Experts predict that if no measures are taken, 159,000 people will be unemployed within six months, and due to the extension of the state of emergency , the number will increase to 78,000 , which means that the unemployment rate in December will be 2.9%, an increase of 0.3 percentage points.

During the epidemic, the Japanese government issued a large amount of subsidies and various welfare benefits, but for ordinary citizens, they began to worry about the future, and all this money would be saved instead of spent. So, what kind of business opportunities will Japan's weak consumption bring?

According to the survey report, private consumption is on an upward trend overall, but weakness is seen in some areas. Consumption of food eaten at home , such as New Year dishes , cakes , and winter clothing is stable, but spending on dining out and other services is weak.

In addition, products with good quality and low prices will also be loved by consumers. The sales of Japan's clothing industry have dropped sharply due to the new coronavirus epidemic, but some fast-selling clothing are highly sought after, such as workwear giants WORKMAN and UNIQLO. Most of these products are comfortable, plain, simple, interesting and fashionable, in line with the popular trends in the epidemic era, and are deeply loved by the general public.

In general, every coin has two sides. In addition to being clear about Japan's future economic development, sellers must also understand buyers' psychology and grasp the best time to close a deal.

Japan

epidemic

clothing