03 October 2013
Consumers in Japan will be looking to purchase big-ticket items prior to the implementation of a recently announced sales tax hike, David Hamaty, managing director for Kurt Salmon Asia Pacific, told CNBC in a recent interview. Once the tax hike goes into effect, said Hamaty, consumers will be even more price-conscious when it comes to buying necessary commodity items like food, and sales of luxury items could take a hit. Retailers, in the meantime, will be trying to reduce costs.
To learn more, watch David Hamaty on CNBC.