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Showing posts from July, 2001

Parasite Economy

For the last 2 weeks, it's been bargain season at Japanese department stores. I, of course, went to Ginza and did some shopping. I assume most men in the company get bored going out with their partners for shopping. I saw lots of dads and boyfriends lounging around on couches, chairs, stairs and anywhere else they could sit down at stores. They were typically half asleep or gazing dazedly at nothing in particular. On the other hand, I saw hundreds of women actively hunting for new clothes, shoes, bags, accessories, etc. It was like watching a swarm of ants working a picnic lunch... There is no doubt in my mind that women are the key for Japan to increase its consumption rates, if only because for many of them, they have almost 100% disposable incomes. We've been hearing in the media for some time now about "parasite singles" who live with their parents, while the boyfriend pays for the dates. What a great, if not rather boring life it must be to be a parasite.... As f...

Summer Heat

Boy it's hot! In the evening, even with the air conditioner on, the evening heat has been keeping me awake. I know that it's not really good for you to keep using the aircon all night, but I don't think I could function at work the next day if I didn't. So of course, I'm expecting to get a summer cold because of the temperature fluctuations. I can't really remember what it was like before we had air conditioners, but I do remember loving to have my mother gently fans me at night as I went to sleep. Was it the light touch of the fan's breeze or the fact that my mother cared enough to do it? Believe it or not, the real summer isn't due for another month or so! What will you do to survive the next 8 weeks of heat in Tokyo?

Brand Name Goods

Did you notice a huge orange box in Ginza for about an year? That was the construction facade for the biggest Hermes shop in Japan, which finally opened on June 28. More than 1,000 people were waiting in line before the opening at 11:00am, including one 25-year-old woman who waited since 22:00 the night before! The sale of such brand name goods slowed back in '97 due to the instability of the Asian economy, but it's been climbing back upwards record levels since '99. While it's amazing that people are willing to pay so much for such expensive goods, it's also amazing how much money these big brand names have been plunking down for Tokyo prime properties. For example, Cartier spent about JPY7bn to purchase their building in Ginza. Prada Japan paid about JPY6bn for land for a building they are constructing in Omote sando, and Hermes Japon paid JPY9bn for the new store in Ginza. The top selling brand is Louis Vuitton and their sales result was JPY720bn for 1999, follow...