Refrigeration Appliances in Japan - New Study Released
Refrigeration appliances increased by 3% in retail volume terms in 2013. The growth was driven primarily by the continued trend towards energy saving as consumers were encouraged to replace their old units. The upcoming VAT rate increase, which raises the tax rate from 5% to 8% in 2014 and 10% in 2015, also stimulated replacement demand for units such as refrigeration appliances, as consumers looked for savings on the tax they pay on big-ticket items.
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