Japanese luxury sales advanced, despite weak economy

Source: Bloomberg
© scanpics/FP
The Japanese economy is struggling, as inflation equals a quarter of the BoJ target, while wages continue its negative tendency. However, the demand for luxury products reached a 15-year record. The department stores sold luxury goods for around 333 billion yen, 20% higher than in 2012.The general reason for this tendency is a widening income gap of Japanese consumers.
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