Here Is Japan's Word For Chinese Shopping Power
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The Japanese have a word that perfectly describes the wave of Chinese tourists that come into the country armed with a hunger for goods and services.
Bloomberg News, (via The Washington Post) introduces us to the word bakugai, which it describes as meaning explosive buying.
It’s the kind of word one might think better reserved for supermarket sweepstakes when consumers break down the door and gobble up all the products in the location, but it has a far more reserved meaning that typifies the Chinese tourists who come into the country and spend an impressive sum on things like Japanese cosmetics.
The report has some intriguing takeaways, namely the demographic that is beginning to skew younger and more female.
There is also a remarkable downturn in the amount of electronics that are being purchased once the bakugai settles. Bloomberg states that you can thank two things for this: the continued strength of the yen and the rampant confidence Chinese have in their own electronics market.
As one consultant tells the publication, “Chinese consumers are starting to buy electronic goods domestically.”
The report went one step further and received thoughts from Liu Yi who lives in the Hubei Province of China: “It used to be the common notion among us Chinese that Japanese electronics are superior, but I think Chinese products are just fine nowadays. It’s Japanese cosmetics and health-care supplements that are very nice.”
READ MORE: Small Alaska Town Overrun with Tourists
In one beautiful quote, we get a sense of what is being touted by the incoming numbers. According to the report, a large swath of Chinese tourists is in their 20s and 30s and are female, searching for cosmetic products as they enter Japan.
Despite the downtick in electronics purchases, the overall outlook for Japan’s tourism industry remains strong thanks to its close neighbors. The report states that over 730,000 Chinese travelers made a trip in July, which represented a record for the month.
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