The Nikkei Shimbun reported on the 29th that Japan’s retail sales in May 2022 showed a 3.6% increase from the same month last year to 12.388 trillion yen.
Citing May’s commercial dynamic statistics released by Japan’s Ministry of Economy, Trade and Industry, the media pointed out that retail sales rose for the third consecutive month as department store sales recovered due to soaring gasoline prices and increased outings due to easing COVID-19.
The expected median value of the market is an increase of 3.3%, which is actually more than 0.3 percentage points. The seasonally adjusted figure is up 0.6 percent from April.
By industry, department stores jumped 55.3% from the same month last year. In addition to easing behavior restrictions, clothing was also strong as temperatures rose.
Convenience store sales rose 3.5 percent to 1.78 trillion yen, while drug stores increased 1.6 percent.
On the other hand, home centers decreased by 3.9% and mass home appliances decreased by 3.3%. Supermarkets have shrunk by 1.1 per cent.
Demand for telecommuting and home meals slowed, and sales of computers, game consoles and household appliances were sluggish.
By industry, 6 out of 9 increased. Fuel retailing, including gas stations, rose 15.0% from the same month last year due to rising gasoline prices, increasing for 15 months.
Retailers of various goods, including department stores, rose 20.7 percent. Textiles and clothing also rose 11.8 percent as summer clothing sales were strong due to increased outings and rising temperatures.
The pharmaceutical and cosmetics retail businesses also showed a solid increase of 5.0%.
However, auto retailers, which continue to restrict parts supply, fell 10.1 percent for the ninth consecutive month.
The Ministry of Economy, Trade and Industry raised its May retail sales stance to “slow recovery.”
