The much better footfall out on the streets and roadways of Japan helped boost shopping malls in December. The Japan Council of Shopping Centres estimates like-for-like sales rose a healthy 6 percent, the second straight month of improving sales, although still down 8.7 percent on the same month in 2019.
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Improved optimism about the virus combined with a clear desire by most Japanese to get out and enjoy the end of year celebrations all helped boost trading. Spending on both dining out at malls and buying food rose sharply and fashion sales also rose as people bought new winter wear.
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Same store anchor tenant sales rose 1.2 percent with the highest growth coming from department store anchors selling higher end products – supermarket anchor tenants had negative growth as figures adjusted from high growth levels in 2020. GMS and specialty retail anchors were also up 1.7 percent and 3.7 percent respectively.
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JapanConsuming
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