2014-04-18 10:53:04 - The Future of Retailing in Japan to 2017 - a new market research report on companiesandmarkets.com
The outlook for retail markets in Japan, remains positive with a CAGR of 1.14% expected over the period 2012-2017. The retail market is set for higher growth than the CAGR of 0.09% registered from 2007-12. Domestic retailers continue to dominate the supermarket sector and have contributed to the slight growth in the economy, along with the increase in online-retailing.
Domestic retailers continue to dominate the channel while foreign companies continue to struggle; Tesco has decided to exit the Japanese market and has reached an agreement with Aeon to sell 50% of its shares. Additionally, Tesco plans to invest US$62 million in the restructure of the new joint venture and will eventually sell its remaining 50% stake to Aeon.
Conversely, Walmart has recovered
after reporting losses for six straight years after it entered the Japanese market in 2002. The retailer has been tackling its competition by following an everyday low pricing scheme in Japan and reduced prices across 2,300 items at the end of 2012.
Local retailers such as Aeon continue to dominate the supermarket channel in Japan, which had a total of 1,627 stores in 2012. Aeon opened 71 new supermarket stores and closed 31 stores in 2012 while Seiyu opened just 7 stores. The JV with Tesco will help Aeon further increase its footprint in Japan. Japanese supermarket operators not only face competition from each other but also other channels such as convenience stores due to their proximity to residential areas.
The outlook for the supermarket sector remains bleak with the sector set to grow at a CAGR of 1.86% from 2012-17.
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