After decades of being highly selective of the brands – that sparked the emergence of a mass-luxury market – and the willingness to pay high prices for quality products, Japanese consumer spending has ground to a half as the country stands on the brink of its sixth economic downturn in just seven years. In the third quarter of 2015, retail sales declined by 1.1%, affected by a 3.1% drop in consumer spending. #MergentInc #industryreports #retailing
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