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Gift certificates, gas coupons, expensive school lunches and reduced houshold spending

July 15, 2008
By Ken Worsley


A few stories concerning consumer spending and behavior caught my eye today. First, the Japan Times tells us that an increasing number of shoppers are buying discount gift certificates for themselves, in order to cut down on food and clothing costs. According to the paper, gift certificates can be usually be bought for as much as a 2% discount on their face value, though department store gift certificates are selling at shops in Shimbashi for as much as a 5% discount.

Then, we hear from the Nikkei that supermarket giant Ito Yokado plans to hand out gasoline coupons starting tomorrow. The campaign will last until next Monday, and each shopper who spends over 5,000 yen will receive a coupon good for 10 yen off per liter of gas, up to 50 liters. Each customer is limited to two coupons.

Then, we hear again from the Japan Times, which tells us that school lunches in Tokyo are being hit hard by rising food costs. In Tokyo’s Chuo Ward, beef is being replaced on the menu with pork, and bean sprouts are being served as a vegetable. In Shinagawa Ward, school lunch prices are set to be hiked by 20 to 35 yen per meal. Apparently, some schools are cutting back on noodle servings due to high wheat prices. What’s being served instead? Rice.

Finally, Dai-ichi Life Research Institute reported that overall household consumption fell 0.8% in the January to May period of this year. Households cut back an estimated 9.2% on housing, as older home appliances are not being replaced as frequently this year.

What was the most telling quote on consumer behavior in all this? Going back to the first Japan Times article, one woman who buys discount gift certificates is quoted as saying, “The higher the price of the clothes, the greater the amount I can save.”

Filed Under Economics, Household Spending, Retail 

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Comments

3 Responses to “Gift certificates, gas coupons, expensive school lunches and reduced houshold spending”

  1. Joe Jones on July 17th, 2008 9:55 am

    HAHAHAHA. That last quote is priceless.

    I wonder if that same lady has any experience getting mortgages in the US?

  2. Brinkman on July 17th, 2008 11:12 am

    I wonder if that same lady has any experience getting mortgages in the US?

    More likely in buying mortgages from the US!

  3. jnd on July 21st, 2008 4:39 pm

    gift certificates can be usually be bought for as much as a 2% discount on their face value, though department store gift certificates are selling at shops in Shimbashi for as much as a 5% discount.

    There has to be a way to package these up into some kind of security that can be traded…

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