'Feeling Guilty': Price Hikes a Tough Sell in Japan Despite Inflation
Japanese consumers are resisting higher prices as Uniqlo and Saizeriya face backlash and smaller businesses hold off on increases, economists said.
6 Articles
6 Articles
Why raising prices in Japan amid ‘insanely high’ inflation backfires on firms
When Japan’s “symbol of affordability” Uniqlo decided to increase the price of its basic socks last month, it sparked a backlash before the clothing titan made an immediate U-turn. That came after Italian-style family restaurant chain Saizeriya issued an almost grovelling apology as it decided to add 20 yen (US$0.13) to the price of its trademark Milanese Doria, lamenting its “lack of effort”. The very public angst, including in one of the world…
'Feeling guilty': price hikes a tough sell in Japan despite inflation
That came after Italian-style family restaurant chain Saizeriya issued an almost grovelling apology as it decided to add 20 yen ($0.13) to the price of its trademark Milanese Doria, lamenting its "lack of effort". The very public angst -- including in one of the world's most recognisable clothing brands -- highlights the struggles Japanese firms face as they battle rising costs in a country where decades of deflation have nurtured a consumer cla…
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