Japan's Department Stores Post Sales Rise in H1

(IDEX Online News) – Japanese department stores posted a 2.3-percent rise in sales for the January-June period with high-end products seeing a strong boost, according to the Japan Department Stores Association. Total sales on a year-on-year basis rose to 3.2 trillion yen.

It marks the second year of higher sales, and the biggest rise since the 3.6-percent increase posted in 1996.

The Japanese economy has seen signs of recovery in recent months following 20 years of stagnation and a rise in consumer sentiment as a result of the economic policies of Prime Minister Shinzo Abe.

“Consumption has been mainly growing among somewhat more expensive products, as consumers seek a sense of luxury,” the Department Stores Association said.

Last year’s sales rise mainly due to a rebound in demand following the catastrophic tsunami and earthquake in 2011.

Sales of items, including expensive timepieces, soared 15.2 percent.