Thrift Bug is Now Japanese Beetle
The New York Times is reporting that thrifty spending is the newest trend in Luxury obsessed Japan. Seiyu, the Japanese division of Wal-Mart began turning a profit last year for the first time in seven years and sales at Louis Vuitton- Japan’s must have handbag have absolutely plummeted. Second-hand shopping and low-cost jeans are apparently all the rage with the teens-as Japan’s economical issues have caused a deflationary gap of 40 trillion yen.
Via: New York Times