Japanese Convenience Store Sales Grow for First Time in 14 Months

Stronger yen yields price cuts for imports, a boon for consumers and Japan's retailers.

August 23, 2010

WORCS, England - With a stronger yen yielding price cuts for imports, Japan's convenience store sales rose 0.5 percent last month compared to the same period last year, Just-Food.com reports.

The modest increase is the first for Japan's convenience store industry in the past 14 months, with strong sales of summer items such as ice cream and drink, along with discounts on 30 import items, leading the way, the Japan Franchise Association (JFA) said.

The survey addressed stores operated by 10 major convenience store companies that belong to the JFA.

The yen's rise is expected to be an ongoing boon for consumers and domestic retailers. Ito-Yokado supermarkets, part of the group which operates the 7-11 chain, has discounted roughly 30 import items, such as South African grapefruit, by as much as 50 percent.

"It's definitely tied to a jump in sales," said an assistant manager of an Ito-Yokado branch in Tokyo.

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