Expert on Japan Retail and Consumer Markets, JapanConsuming

Michael Causton

Expert on Japan Retail and Consumer Markets

Real Insight on Japanese Consumer Markets

JapanConsuming

JapanConsuming is a specialist research firm producing intelligence on Japanese retail and consumer markets. Founded in 2000, JapanConsuming has become the leading provider of insights on Japanese retailers and consumer trends to retailers, brands, government agencies and investors. As well as a highly regarded monthly report on the market, JapanConsuming produces in-depth reports on retail sectors, seminars on key trends and telephone consulting to investors on trends and retailers.

JapanConsuming was founded by Michael Causton and Roy Larke. 

Thematic (Sector/Industry)

<ul>
<li>The latest commercial census published this Spring shows that Japan's wholesale sector remains more dominant than in many other major economies, partly explaining the low margins in some retail sectors.</li>
<li>Wholesale sales fell 8% between 2016 and 2021, but were still 10% higher than in 2012 due to survey changes over the previous decade.</li>
<li>Consolidation of wholesaling into the hands of larger corporations, with correspondingly higher power within the supply chain, is increasing and opportunities for M&amp;A and margin growth are significant.</li>
</ul>


The latest commercial census published this Spring shows that Japan's wholesale sector remains more dominant than in many other major economies, partly explaining the low margins in some retail sectors.
Wholesale sales fell 8% between 2016 and 2021, but were still 10% higher than in 2012 due to survey changes over the previous decade.
Consolidation of wholesaling into the hands of larger corporations, with correspondingly higher power within the supply chain, is increasing and opportunities for M&amp;A and margin growth are significant.


<ul>
<li>With food inflation exceeding 8% in December, prices have become the focus for all supermarket retailing. </li>
<li>This is good news for those that are set up for price competition but it presents a serious challenge to the majority of chains.</li>
<li>The net result will be a widening gap in performance between the best and rest, with the former delivering both top line growth and rising margins.</li>
</ul>


With food inflation exceeding 8% in December, prices have become the focus for all supermarket retailing. 
This is good news for those that are set up for price competition but it presents a serious challenge to the majority of chains.
The net result will be a widening gap in performance between the best and rest, with the former delivering both top line growth and rising margins.


Japan's Supermarkets: The Coming Disruption

<ul>
<li>Shoppers are facing a further round of price increases this month, with leading companies raising prices on more than 4,000 items. </li>
<li>Price inflation on FMCG is now at its highest level since the 1980s and there is growing caution among shoppers: 85.3% feel burdened by price hikes according to a Nomura survey.</li>
<li>With incomes falling again, many households are now holding back on all but essential spending, seeking out bargains and avoiding supermarkets that are seen as too expensive.</li>
</ul>


Shoppers are facing a further round of price increases this month, with leading companies raising prices on more than 4,000 items. 
Price inflation on FMCG is now at its highest level since the 1980s and there is growing caution among shoppers: 85.3% feel burdened by price hikes according to a Nomura survey.
With incomes falling again, many households are now holding back on all but essential spending, seeking out bargains and avoiding supermarkets that are seen as too expensive.


More Price Increases Bring Further Challenges for Japan's Retailers

<ul>
<li>Japanese consumer households continues to face significant barriers to spending post-Covid although there are clear signs of higher spending on categories like luxuries.</li>
<li>The biggest barrier is inflation, particularly in essential categories like food where there were 20,743 item price rises in the 11 months to November 2022.</li>
<li>Although wages have increased, much of the bounty is going into savings rather than higher spending.</li>
</ul>


Japanese consumer households continues to face significant barriers to spending post-Covid although there are clear signs of higher spending on categories like luxuries.
The biggest barrier is inflation, particularly in essential categories like food where there were 20,743 item price rises in the 11 months to November 2022.
Although wages have increased, much of the bounty is going into savings rather than higher spending.


<ul>
<li>The following is an in-depth review of the Japanese retail sector in 2021-22 and is designed to provide a complete overview for any investor in Japanese retail/consumer markets.</li>
<li>FY2021-22 proved a rebound year for retailers at the sector level. But on a company by company basis, there has been radical divergence between the best and the rest. </li>
<li>We look at the reasons for this divergence and the implications for Japanese retail and consumer firms in the years ahead.</li>
</ul>


The following is an in-depth review of the Japanese retail sector in 2021-22 and is designed to provide a complete overview for any investor in Japanese retail/consumer markets.
FY2021-22 proved a rebound year for retailers at the sector level. But on a company by company basis, there has been radical divergence between the best and the rest. 
We look at the reasons for this divergence and the implications for Japanese retail and consumer firms in the years ahead.


Japanese Retailing 2021-22: What's Really Going on and What's Next?

Japan

Blue Zones Holdings Co.,Ltd. operates supermarkets. The Company sells groceries, household goods, and other home-related products. Blue Zones Holdings conducts businesses in Japan.

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Blue Zones Holdings (417A JP)

The State of Wholesaling in Japan

Getting a clear overview of Japan's wholesale industry is hard but every five years, Japan does a commercial census. The latest is just out, and we...

Michael Causton

Japan's Supermarkets: The Coming Disruption

With Trial's IPO looming and inflation at record highs, Japan's supermarket sector is a sector ripe for disruption as pricing pressures widen the...

Michael Causton

More Price Increases Bring Further Challenges for Japan's Retailers

Price increases on FMCG products are hitting consumer sentiment in Japan with wide ranging implications for retailers. The gap is widening and will...

Michael Causton

Japanese Consumer Markets in 2023

Japanese consumer spending is rising again but there are headwinds such as fears over inflation and social security reforms. There is more...

Michael Causton

Japanese Retailing 2021-22: What's Really Going on and What's Next?

There is increasing divergence between the winners and losers in Japanese retailing and the following in-depth review looks at performance in the...

Michael Causton

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