Department store operators have been holding retail fairs featuring regional products, among other events, in a bid to prevent sales from falling following the consumption tax rate hike introduced on Oct. 1. On the first weekend since the introduction of the hike, such retail fairs were crowded with customers.
A Hokuriku and Shinshu fair began on Wednesday at Tobu department store in Tokyo's Ikebukuro district in Toshima Ward. On Saturday, the space was filled with customers buying boxed lunches, dried fish and other local specialties. "Fairs like this are appealing because we can buy regional products in Tokyo. I can enjoy shopping without having to worry [about the tax hike]," said a 70-year-old woman from Kita Ward, Tokyo, who bought a boxed lunch and pickled vegetables.
A reduced consumption tax rate of 8 percent -- the same as the pre-hike rate -- is applied to food and drinks not consumed at stores, excluding alcoholic beverages.
Retail fairs featuring regional products are events that department stores can expect to attract a steady stream of customers. A succession of fairs is set to be held through October and later.
Odakyu Department Store's Shinjuku branch in Shinjuku Ward, Tokyo, holds an annual autumn Hokkaido fair in September, but delayed the opening of the event this year to Oct. 2. Seibu's flagship department store in Ikebukuro also held a Hokkaido fair from the same day.
Tobu is hoping the fair will lead to a boost in sales in other sections, amid concerns over a decline in demand for such products as cosmetics following the tax hike. "It would be great if customers at the fair used the opportunity to visit other sales areas while they are here," a Tobu Department Store spokesman said.
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