What:  Japan reported a +5.2% growth in retail sales during the month of March

Why it is important: All department stores were forced to close on April 25 and are expected to remain shuttered until the end of May. It shows both the constant appetite from customers to get back to ‘normal retail’ and the fragility of economical situations all across the world.

Retail sales grew +5.2% in March due to the fact that customers were in high demand after shutdown and disruptions related to Covid-19 crisis. This allowed department stores to post an even higher demand, of +19.3%, in the beginning of the Spring season. However it is expected that this trend will not live long, given the fact that the Japanese government is reported to be currently examining maintaining the lockdown measures until the end of the month, in order to make the situation clear and safe for the Tokyo Olympics which will occur during the coming month of July.

Japanese retail sales rise