Businesses trapped between rising costs, cautious consumers

Due to the hike in fuel prices and materials, many Japanese companies and shops are facing a difficult time these days.

As one of the countermeasures, employers are required to raise wages, but it's not that easy.

Uniqlo, the retail clothing company announced a raise in their wages by up to 40 %.

However, not all companies can do this.

Due to recent situations where prices are becoming higher all around, competing with other businesses with prices gets more difficult.

Companies are being required to shift from selling products at affordable prices to selling higher quality products at appropriate prices.

Customers are required to pay a certain amount of money for good services and products.

In a few years, markets and industries will change dramatically.

It means that industries that have been competing on price alone will soon disappear.

ペルーにある洋服が捨てられるダンプサイト。ファストファッションの墓場です。

2023/02/01 デフレマインドからの脱却