Chinese Tourists No Longer Buy Or Buy In Japan

Japanese retail businesses said that spending on Chinese tourists in Tokyo during the Spring Festival holiday fell from last year, and the strong yen and slowing economic growth in China threw cold water on the frenzy of shopping.

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Turbulence has prompted investors to seek refuge currencies.

In the main currencies, "one branch outstrips one another".

The yen has risen nearly 7% so far in February and has risen 6.5% so far in 2016.

Isetan Mitsukoshi Holdings said that the number of international duty-free customers received by its stores in from February 7th to 13th was about 50% higher than that of the 2015 golden week holiday in 2015, but the per capita expenditure of customers decreased by 15% over the same period last year.

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The number of tourists doubled to 5 million, and helped the total number of inbound tourists in Japan reach nearly 20 million. This is what the Japanese government originally intended to achieve by 2020.

Katsuhito Takahashi, assistant manager of Yodobashi Camera, an electronics store in Shinjuku, Tokyo, said that despite the few changes in the number of Chinese customers, sales in the Chinese New Year holiday this year dropped by about 25% compared with the previous year.

J.Front Retailing of operations department store also said that the number of Chinese customers increased over the previous year, but the average sales per customer dropped to two digits.

J.Front, a spokeswoman, said: "we do see customers buying cosmetics, buying children's clothing and other household necessities, but the sale of jewellery and watches has dropped by two digits."

The shopping behavior of Chinese tourists in department stores and electronics stores in 2015 prompted a popular word, bakugai, to bring "Gospel" to Japanese retailers facing decades of sluggish domestic consumption demand.

But in 2015, China's economic growth slowed to a low level in 25 years, and the stock market slump in the middle of the year, adding to the uncertainty of the country's economic prospects, had an impact on overseas consumption of Chinese tourists this year.