Bargain Sale Day

What Is Bargain Day?

October 19 is "Bargain Day" in Japan. On October 19, 1895 (Meiji 28), Daimaru Gofukuten, the kimono shop that later became the Daimaru department store, held a big winter clearance sale in Tokyo. This is said to be Japan's first bargain sale. However, some say the word "bargain" was first used for a sale in 1914 by Iseyo (today's Ginza Saegusa) in Ginza, Tokyo, and others say kimono shops were already holding sales in the Edo period, so there are several theories about the origin.

Kimono Shops and the History of Sales

Many Japanese department stores began as kimono shops in the Edo period.

• Fixed prices: In the Edo period, Mitsui Echigoya (today's Mitsukoshi) became known for its "cash only, no markups" policy, selling goods for cash at the marked price.
• Daimaru's roots: Daimaru traces its origins to Daimonjiya, a kimono shop opened by Shimomura Hikoemon in Fushimi, Kyoto, in 1717.
• Seasonal sales: Selling off stock cheaply at the change of seasons became a standard department-store event from the Meiji era onward.

"Bargain" vs. "Sale"

The Japanese word "bargain" comes from the English word for a good deal, and in Japan it came to mean a sale itself. A similar term is "clearance sale," for clearing out stock at the end of a season. Today, alongside big summer and winter sales, there are many kinds of discounts, such as limited-time online sales.

Bargain Trivia

• Loss aversion: The feeling that "I'll lose out if I don't buy now" is called loss aversion in behavioral economics. Knowing about it can help you avoid impulse buys.
• Lucky bags: Fukubukuro, bags of unknown contents sold at a discount, are said to have started at Edo-period kimono shops or Meiji-era department stores and remain a New Year tradition.
• Dynamic pricing: Pricing that changes with demand has spread to airline tickets, hotels and sports tickets.
• Cost per wear: Dividing the price of clothing by the number of times you will wear it makes it easier to judge whether it is really a good deal.

Ideas for Bargain Day

• Make a list of what you really need before you shop.
• Go through your closet to see what you have and what is missing.
• Try to choose long-lasting items at a price you are happy with.
• For online sales, check shipping costs and return policies before buying.

Something to Remember on Bargain Day

October 19 is a day to think back to a Meiji-era kimono shop's big sale and review how you shop. Buying cheaply is nice, but what matters is choosing what you truly need. Make a wish list today and enjoy shopping wisely.