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Health and Beauty Specialist Retailers in Japan

Japan health and beauty specialist retailers market led by Matsumotokiyoshi Holdings Co Ltd in 2013


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2014-04-30 03:29:02 - Health and Beauty Specialist Retailers in Japan - a new market research report on companiesandmarkets.com

Although all health and beauty specialist retailers categories recorded increases in current value over the course of 2013, chemists/pharmacies enjoyed the fastest growth. According to Euromonitor International´s Countries and Consumers database, individuals aged over 65 years old accounted for 25% of Japan´s total population in 2013 and this proportion is expected to rise to 28% by 2018. The increasing need for medication among the country´s burgeoning elderly population continues to support steady growth in health and beauty specialist retailers. At the same time, many of the leading companies operating in chemists/pharmacies are exploring new outlet formats in order to increase consumer access to both prescription and non-prescription medicines. One of the most important emerging trends in health and beauty specialist

 

 

retailers is the growth of hybrid outlets which can be positioned somewhere between chemists/pharmacies and convenience stores. This trend is developing as consumers throughout Japan seek to take advantage of the benefits of shopping in convenience stores.

Matsumotokiyoshi Holdings Co Ltd continued to lead drugstores/parapharmacies in Japan in 2013 with a value share of 8%. In addition to the company´s massive outlet network, one of the strengths of Matsumotokiyoshi is its private label MK Customer, which offers more than 2,000 products ranging across consumer health, beauty and personal care, home care and packaged food. While the brand offers mainly budget-priced items, the relatively few premium products offered under the product line such as organic shampoo remain the main driving force behind sales. With its well-established e-commerce website, the company began selling Class 2 OTC drugs online in July 2013. The company plans to increase its ability to compete against rival retailers selling OTC drugs online by introducing a next-day delivery service as well as an advice service in store-based retail outlets during 2014.

Health and beauty specialist retailers is expected to increase in constant value at a CAGR of 2% over the forecast period. Chemists/pharmacies is expected to be the category which drives growth across the channel due to the steady increase which is being recorded in the size of Japan´s elderly population and the rising demand among these consumers for medication. That said, it is equally important for Japan´s chemists/pharmacies to meet demand among the younger population. The number of full-time workers living in single-person and dual-income households is expected to increase and it is often difficult for these people to visit chemists/pharmacies outlets during regular opening times. Thus, more innovative collaboration not only with convenience stores but also other retail outlets and formats such as chemists/pharmacies positioned within railway stations are expected to be observed in health and beauty specialist retailers during the forecast period.

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