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The Future of Retailing in Japan
World Market Intelligence, January 2010, Pages: 325
This report is the result of World Market intelligence's (WMI) extensive market, company and deals research covering Japanese retail market. It provides detailed segmentation of historic and forecast retail sales, segmented down to category and channel level; analysis of the leading retail companies in the Japanese retail market; and analysis of the key financial deals involving retail players in Japan.
Key Market Trends
- Japan - the second largest retail market: Japan continues to be the second biggest retail market in the world with 127 million sophisticated consumers in spite of the global economic downturn. In terms of retail market size, Japan still accounts for more than 55% of the entire Asian market. Though the retail market has been adversely affected due to the recession in 2008, the market is expected to witness growth in 2009 with retailers adopting various strategies such as mergers and acquisitions to increase the revenue.
- Decline in Household Expenditures: The Japanese household expenditures fell by ¥70,000 on average in 2008. The category taking the biggest hit due to the decline in expenditure was food, which decreased by ¥17,000. The consumers have become more practical and selective by opting to purchase necessary products that have value. This has resulted in higher demand for private label products. In Japan, the number of consumers purchasing cheaper private-brand items has increased by 44% over last year.
Key Channel Trends
- Continuous decline in department store sales: The department store channel revenues in Japan continued to decline consecutively for the tenth year in 2008. In the past decade, ¥1.5 trillion ($15.2 billion) in sales, which is almost equal to the entire annual sales of Japan's largest chain, has been wiped out. The department stores are also facing stiff competition from drugstores and suburban shopping malls that are encroaching on their turf. Hence, to increase their efficiency to face the competition and economic slowdown, department stores have been joining hands.
- Non-Store Retailing to Drive Growth: The growth in the retail market in Japan over the forecasted period is expected to be marginal. With the growing popularity of online retailing and home shopping, non-store based retailing is expected to drive the growth. Store-based retailing is expected to continue to decline, with department stores and supermarkets witnessing further drop in sales. Online retailing is expected to offer good opportunities for retailers to expand their sales and customer base.
Key Category Trends
- Dominance of food & groceries: Food & drinks dominate retail sales in all countries, due to their vital importance in everyday life. In Japan, the food and groceries category accounted for around 52.5% of the total retail market in the year 2008. Packaged food had the largest contribution to the category sales with a value of ¥31,961.8 billion (US$310.0 billion), registering a CAGR of 2.5% over the period 2004-08.
- Recession effect on Luxury goods: Japan, one of the world?s top markets for luxury goods, consumes nearly 40% of all the luxury goods worldwide sold every year. However, with recession setting in Japan, the consumers have decreased their spending on luxury goods.
Executive Summary
Introduction
Market Environment
Channel Analysis: Japan Retail Market
Channel Analysis: Discount Retailers
Channel Analysis: General Retailers
Channel Analysis: Specialist Retailers
Channel Analysis: Online Retailers
Category Analysis: Germany Retail Market
Category Analysis: Apparel, Accessories & Luxury Goods
Category Analysis: Books, News & Stationery
Category Analysis: Electricals & Electronics
Category Analysis: Food & Groceries
Category Analysis: Furniture & Floor Coverings
Category Analysis: Home & Garden Products
Category Analysis: Music, Video & Entertainment Software
Category Analysis: Sports & Leisure Equipment
Company Profile: Seven & i Holdings Co. Limited
Company Profile: AEON Co., Ltd.
Company Profile: Yamada Denki Co., Ltd.
Company Profile: Ito-Yokado Co. Ltd.
Company Profile: Isetan Mitsukoshi Holdings Ltd.
Company Profile: UNY Co., Ltd.
Company Profile: J. Front Retailing Co., Ltd.
Company Profile: Takashimaya Company, Limited
Deal Analysis
Appendix
- Seven & i Holdings Co. Limited
- AEON Co., Ltd.
- Yamada Denki Co., Ltd.
- Ito-Yokado Co. Ltd.
- Isetan Mitsukoshi Holdings Ltd.
- UNY Co., Ltd.
- J. Front Retailing Co., Ltd.
- Takashimaya Company, Limited
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