Japan Convenience Store Sales Rebound 1.8 Pct in Oct.

Economy

Tokyo, Nov. 20 (Jiji Press)--Sales at convenience stores in Japan in October rose 1.8 pct from a year before to 882.4 billion yen, up for the first time in two months, the Japan Franchise Association said Wednesday.

Sales grew thanks chiefly to a government-funded point reward program aimed at cushioning the impact of the consumption tax increase from 8 pct to 10 pct on Oct. 1.

The consumption tax rate was kept at 8 pct for takeout food, a mainstay item for convenience stores.

Under the reward program, consumers receive points worth 2 pct of their purchases by cashless payments, such as electronic money and credit cards.

As a result, convenience stores saw a rise in the use of cashless payments. Per-customer spending grew 4.1 pct to 625 yen.

[Copyright The Jiji Press, Ltd.]

Jiji Press