China ‘revenge consumption’ of economic resumption Japanese cosmetics manufacturer recovers may 22 14:25
In China, sales are recovering as sales have been restored by the resumption of economic activity, as there has been a so-called “revenge consumption” of people who have refrained from shopping.
Shiseido, which accounts for two percent of sales in China, saw a 15.2% decrease in sales in China from January to March due to the spread of the new coronavirus infection.
Since then, most stores in China have resumed operations as economic activity resumes, and sales have recovered to levels before the spread of the new coronavirus infection last month.
At the earnings conference on December 12, President Masahiko Uotani said, “In China, as symbolized by the “revenge consumption”, customers at department stores and other stores are returning to pre-Corona levels, and e-commerce is also growing significantly.”
In addition, Kose also said that sales in April in China are returning to almost the same level as last year.