Japan's Retail Cooling And Lack Of Domestic Demand Are Starting To Follow Hongkong's Footsteps.

It is no better to "pull the trigger and move the whole body" to the current pattern of China's economy.

Recently, China's tourism consumption has a strong impact on the development of the global retail industry. Since Hongkong was no longer a "shopping paradise", it has attracted worldwide attention since it once fell into the doldrums of retail trade.

And Japan, which also relies on tourism to boost its economic development, is about to enter.

Footsteps.

Since the recent decline in the RMB index has led to a slight depreciation of the RMB against the Japanese yen and the Hong Kong dollar, the yen has depreciated by about 10% since last July, and the renminbi has surged by about 20% against the Japanese yen from July 2014 to July 2015, which has led to doubling the number of visitors to China in the past year.

However, since July, the devaluation of the RMB has reduced the number of Chinese tourists visiting Japan, which has also aroused the official market vigilance of Japanese tourism, thus increasing tourism publicity to European and American countries, hoping that the Japanese consumer market will not be oppressed by the sharp decline in the number of Chinese visitors to Japan.

Nevertheless, the number of visits to Japan still began to fall from more than 590 thousand people in August, and reached the lowest level in December.

However, it is still a record high and has become Japan's largest foreign tourist destination.

The most popular Chinese tourist in Japan is to buy luxuries because of their travel in Japan.

There is still a small price difference in the Japanese market compared with the mainland of China. Therefore, the purchase of luxury goods has become a more important objective for Chinese tourists visiting Japan. Meanwhile, the lack of domestic demand in Japan has also become an important point for the Japanese to consolidate in the luxury market.

However, as the renminbi moves against the yen,

This has resulted in an increase in the cost of tourism consumption, coupled with the lowest domestic economic growth in 25 years, which has weakened tourism consumption demand.

As a result, the Japanese tourism industry has stimulated the retail sales growth.

To avoid stepping into the retail industry of Hongkong, Japan should develop other industries to shift its dependence on Tourism in addition to increasing tourism publicity to Europe and the United States.

What is more interesting is that in the Japanese market and the growth of the Korean market, some brands have switched to the Japanese market and the Korean market. For example, Dior has opened the world's largest flagship store in Japan, and Adidas has followed closely, all of which show the attitude of luxury brands.

However, the luxury brands who are waiting for market feedback may disrupt the pace of these brands with the depreciation of the renminbi against the Japanese yen.