Thursday May 24, 2012

Dept stores begin 2009 business with big discounts

Dept stores begin 2009 business with big discounts
Hundreds of young shoppers line up outside 109 in Shibuya on Friday.

TOKYO —

Major department stores kicked off their business for 2009 on Friday, cutting prices to attract increasingly thrifty consumers amid a recessionary economy. On offer were traditional lucky bags, which some stores let customers cram full of practical products such as canned food or vegetables. Winter bargain sales were also under way at some outlets.
   
Officials at department store operator Mitsukoshi Ltd said shoppers queued up for lucky bags at its Nihonbashi store in Chuo Ward, downtown Tokyo, and a total of 1,300 bags priced at 15,000 yen each were sold out in about one hour.
   
Takashimaya Co, which announced in December a downward revision for its 2008 business projections, began selling winter clothes and products at a 20 to 30% discount.
   
The bargain sale is aimed at making up for sluggish sales at the end of last year, with consumers apparently waiting for markdowns, according to company officials.
   
Aeon LakeTown, one of the nation’s largest shopping malls opened by supermarket operator Aeon Co last October in Saitama Prefecture, saw about 12,000 people line up in front of the store on New Year’s day Thursday waiting for the doors to open. But per-capita spending has been on a down note, spokesmen said.

  • 0

    NeilWarnock

    Same in every developed country i would guess. The world reccession meab stock must be cleared out.

    Discounts will be happreining all year round i predict , as shoppers wait for bargains, possibly leading to deflation.

  • 0

    OnTheRecord

    They aren't doing big discounts where i live!!. All ths shops are closing mid afternoon. Bloody joke.

  • 0

    rajakumar

    Marts,Dept stores should maintain at least enough to cover expenses and costs in 2009.

    Goodies can be bought at lower prices in 2009, while global economic forces try to come up with next bull run action plans to prevent discounts and promote inflation.

  • 0

    seesaw

    Sale? Shopping...arrrggghh...gaman, gaman, gaman..that's what I'm telling myself today...many people are homeless, I shouldn't be spending money unnecessarily...

  • 0

    some14some

    But per-capita spending has been on a down note, spokesmen said.

    now that's the problem and whatever increase in sales in Jan will be offset in Feb/Mar.

  • 0

    ilcub76

    A 20~30% discount is nothing!! Go to any American store on Dec. 26th and you'll get a 60~75% discount. The Japanese stores say that theyre giving "big discounts", but theyre still making money hand-over-fist.

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