Friday, May 21, 2010
Fashion Sales to Increase in 2010
With Japan's Gross Domestic Product increasing 4.9% in the first quarter, the economy should start to see an improvement including in the fashion industry. According to Yano Research Japan's import fashion market should experience a slight increase of less than 1% in sales growth, a small but welcomed increase compared to last year's decrease of 15.9%. While a less than 1% recovery is small it will take some time before sales rebound, though they never will fully recover to their pre-recession rates. According to one fashion executive I spoke to consumers are returning to the stores though are much more selective with what they are purchasing and are less likely to make impulse purchases, rather they are doing more comparative shopping. Hopefully as Japan's economy keeps growing so will consumer confidence and in turn sales.