The Good Life

A decade ago, Japanese workers yearned for what was then considered the three essentials of modern life: a car, a color television set and an air conditioner. Today those products are commonplace. The number of families with cars has grown from 17% in 1970 to 62%; those with color TVs from 26% to 98.9%; those with air conditioners from 5.9% to 40%. Signs of a national shopping spree are everywhere. A new government survey of 65,000 families found that the most popular consumer purchases include video tape recorders ($700) and pianos ($3,000).

Single women living with their parents are among the most conspicuous consumers. They outfit themselves with imported designer ensembles, including Louis Vuitton handbags ($750), Hermes scarves ($166) and Yves Saint Laurent shoes ($133). Japanese women also spend heavily on traditional dress. An upper-middle-class woman may own 25 kimonos with a total value of at least $25,000.

The biggest difference between Japanese and American spending habits is that the Japanese save more and spend more on food, but Americans pay out more for housing. The Japanese save 21% of disposable income, while Americans are currently squirreling away 5.7%. The typical Japanese family devotes 27.5% of its money to food, compared with 16.2% for the U.S. family. On the other hand, the Japanese spend just 5% of income on housing, while Americans put out 15%. This file is automatically generated by a robot program, so viewer discretion is required.