Department stores nationwide go into full swing this weekend for the all-important yearend gift-shopping season, hoping to finish on a high note a year marked by battered sales.
"Oseibo," literally meaning yearend, has historically been the big gift-giving occasion along with the summer gift season. Unlike the Western notion of giving Christmas presents, it is a much more formal and less personal affair, with presents sent to a large pool of people with business and family ties.
For major operators, the occasion means more than boosted revenue. Their prestige as upscale retailers hinges on how many gifts are wrapped in their packaging, and they are placing greater marketing focus on general shoppers today as once-generous corporate clients cut back on expenses.