Decline in Department Store Sales in Japan

(IDEX Online News) – Japanese shoppers have decreased their jewelry and art purchases at the country's department stores, reversing a long-standing trend. Sales of art, jewelry and precious metals declined 2.5 percent in August.

While spending at department stores has been declining for a number of years in Japan, the art, jewelry and precious metals category continued to increase.

Department store sales in Japan fell 1.0 percent to Y419.5 billion ($5.36 billion) in August, the fourth straight year-over-year drop, according to data released today (Thursday) by the Japan Department Stores Association.

The August sales drop follows declines of 3.3 percent in July, 1.2 percent in June and 1.0 percent in May.

By contrast, sales of precious metals, art and jewelry at Japan's department stores increased 7.7 percent year-over-year in June despite heavy rains.