Fri, 20 Feb 2015 08:56:14 GMT
Japanese luxury sales advanced, despite weak economy
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.