Korean card spending on Japanese brands cut in half amid boycott
- 5 years ago
South Korea's card spending on Japanese brands has halved over the past several weeks as Tokyo's anti-trade curb boycott shows no sign of abating.
According to data from eight major card companies, spending on such items during the last week of June was 8-point-4 million U.S. dollars, but that shrank to about 4 million during the last week of July.
Amid the widening boycott of Japanese products, brands like ABC Mart and D-H-C were affected, and Uniqlo saw its sales plunge a whopping 70%.
This comes despite overall card spending actually increasing during that period.
Card spending at four major Japanese tourist destinations, including Tokyo and Osaka, also decreased by a fifth.
According to data from eight major card companies, spending on such items during the last week of June was 8-point-4 million U.S. dollars, but that shrank to about 4 million during the last week of July.
Amid the widening boycott of Japanese products, brands like ABC Mart and D-H-C were affected, and Uniqlo saw its sales plunge a whopping 70%.
This comes despite overall card spending actually increasing during that period.
Card spending at four major Japanese tourist destinations, including Tokyo and Osaka, also decreased by a fifth.