2021 has not been positive for Japanese apparel retail sector! According to the official data, the country fell by 18.80 per cent on Y-o-Y basis in its clothing sales revenues earned by chain stores during August ’21.
The revenues in clothing segment of the country’s chain stores valued 45,369.57 million yen (US $ 407.91 million)and also plunged massively by 31.40 per cent as compared to July ’21.
The dwindling Japanese apparel retail industry is continuously furthering its losses…It’s evident from the data as March and June have been only two months in 2021 when Japanese chain stores have witnessed monthly growth in sales generated by apparel segment!
Revenues generated by menswear products were 7,267 million yen (US $ 65.34 million) in August ’21 and tumbled by 37.70 per cent on monthly basis, while it plunged by 15.90 per cent as compared to revenues clocked in August ’20.
The sales of womenswear products valued 10,969 million yen (US $ 98.62 million) in August ’21 that dropped by 42.50 per cent on M-o-M basis and 16.90 per cent on yearly basis.
All other type of clothing including kidswear too remained sluggish as the revenues were down by 23.30 per cent in August ’21 as compared to July ’21 to 27,133.50 million yen (US $ 243.95 million).