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October 1, 2011
Citi Cards Japan, operator of Citigroup's credit card business in Japan, is set to release a new credit card for wealthy individuals called "Ginza Diners Club Card." The card targets wealthy customers who frequently enjoy shopping around Tokyo's Ginza area, one of the most luxurious shopping districts in Japan. Citi Cards Japan will accept membership applications from October 1.
Citi Cards Japan will offer invitations to special sales and cultural event held by Ginza's business organizations to card members. Additional offers include "insider" information about the Ginza area and a variety of benefits offered by over 600 associated area retailers and department stores Example of these include access to invitation-only events at exclusive area restaurants and private sales offered outside regular business hours by area stores. Card members canalso use the "Ginza lounge" which will be opened in central Ginza by the end of the year.
According to Citi Cards Japan, wealthy shoppers enjoy Ginza's culture and tend to stay in the area shopping for many hours and spending significant amounts of money. Despite the higher-than-usual membership fees, the company hopes to sign-up 15,000 members in three years.
Given Japan's decreasing population, low birth-rates and ageing society, it appears many companies are looking increasingly to wealthy individuals as a way to maintain and expand their business.
September 29, 2011 Toyo Keizai Online