Retail in Asia

In Markets

Japan retailers welcome Year of the Tiger

Reasonably priced fukubukuro, or "lucky bags", have gained popularity at Japanese department stores as consumers have looked for ways to tighten their belts amid the recession.

Lucky bags are a Japanese New Year’s Day tradition that sees merchants sell sealed bags of various items at a substantial discount, often as high as 50 percent. As a result, shoppers stand the chance to "bag" some great deals – even if they don’t know what exactly they’re buying.