As the economy collapses prices remain high. This is, I…
““As the economy collapses prices remain high. This is, I guess, very Japanese. In some other countries there would be at least a few merchants who would lower their expectations. Not here, however. There are new alternatives (the hundred-yen malls), but nothing established lowers anything. Perhaps it is because quality is judged by price. If you lower the price you lessen the quality. There is thus really no such thing as a bargain. Indeed, some raise their prices as though to tempt through exceptional quality—this is the way Wako Department Store works. The goods are in no way exceptional, but the prices are. Consequently anything merely wrapped in Wako paper is first-rate. I remember tales that in the far hinterlands people used to paper their walls with Tokyo department store paper, simply to give tone.””
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
In Japan, high prices persist despite economic downturn because quality is equated with price, discouraging discounts and creating a perception of value tied to cost.
In simple terms: Japanese market ties price to perceived quality, limiting bargains.
Key Takeaway
Question price as a signal of quality.
Themes
culture
economics
consumer behavior
Mood
analytical
critical
Type
observational
cultural
When to use this quote
- shopping
- budget planning
- luxury branding
- price negotiation
Key Concepts
price-quality perception
market psychology
Questions to Reflect On
- How does price influence perceived quality?
- Can value be communicated without high price?
A Different Perspective
Discounting may erode brand perception and consumer trust.