Uniqlo lowers prices once again
When in 2014 Japanese clothing company Uniqlo increased its prices, that was a straight endorsement of Sninzo Abe, Japan’s prime minister aimed at boosting a lackluster economy. Unfortunately, Abe’s initiative didn’t appear to be effective enough. So, there’s no wonder that Uniqlo has recently reversed its prices backwards simultaneously rolling out a bunch of attractive discounts.
Fast Retailing Co LTD, this brand’s owner is currently illustrating a transparent picture of a corporate sector being under pressure of overhead costs, low prices, not to mention descending consumer enthusiasm.
Furthermore, the BOJ’s striking move to impose negative interest rates to stimulate consumer spending was meant to drastically boost sales. Unfortunately, a devastating economic shrank (October-December) on poor exports and mediocre consumption appeared to be the first obvious sign of the approaching recession.
Fast Retailing is also struggling to attract more customers, just like the vast majority of Japanese restaurant chains. So, the country’s clothing giant had not choice, but to lower its prices.