Japanese editorial excerpts -3-.TOKYO, July 23 Kyodo
Selected editorial excerpts from the Japanese press:
LOWER-PRICE TREND STRENGTHENS (The Japan Times, an English-language daily)
Retailers are lowering prices to attract customers, a trend noticeably strong at food and clothing stores as well as restaurant and fast-food chains.
Low-price products must be welcome to households that are tightening their purse strings purse strings or purse·strings
Financial support or resources, or control over them: the politicians who control federal purse strings; tightened the corporate purse strings. in the face of summer bonus cuts and the nation's rising unemployment. Consumers are becoming more conscientious about searching for bargains and getting the maximum value out of their money.
Large supermarkets are selling ''third beer,'' a beer-like alcoholic beverage, for around \100 a can. These are not sacrifice-sale products sold at a loss but rather private brand products specially developed by alcoholic beverage makers in cooperation with the supermarkets.
Household budgeting amid concern about income prospects is not the only influence on recent price movements. Some consumers have become more eco-aware and are making efforts to be less wasteful.
Others even enjoy economizing and being more creative with the variety of low-priced items, for example in fashion. All this points to new business opportunities and an optimistic op·ti·mist
1. One who usually expects a favorable outcome.
2. A believer in philosophical optimism.
op outlook for companies ready to develop products that meet the demand of these people.
Cutting prices, however, does have a downside Downside
The dollar amount by which the market or a stock has the potential to fall.
You might hear someone say that the downside on stock XYZ is $10. What that means is that the stock could fall by this amount if things got bad. . The enterprise price index in June dropped a record 6.6 percent from a year before, raising fears of deflationary de·fla·tion
1. The act of deflating or the condition of being deflated.
2. A persistent decrease in the level of consumer prices or a persistent increase in the purchasing power of money because of a reduction in available pressure on the economy.
The government should confront the root of price drops and do its utmost to improve the employment situation, strengthen social security and expand education opportunities.