Japanese Retailing Successes
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Code : COM0028
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Region : Japan
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Introduction:By 2002, Japan had a $1 trillion retail market. The Japanese retail market consisted of leading retailers like Toys "R" Us4 and Seven Eleven Japan. In spite of a long economic recession in Japan from 1989 to 1990, retailing business has increased manifold. Since the early 1990s, the retail market in Japan has faced increased competition from foreign competitors making it difficult for most retailers to succeed in Japan. The retail sector has witnessed the rise and fall of many companies since then, and between 1999 and 2002, about 106,841 retail stores6 were closed down in Japan. Big domestic companies like Daiei, Mycal (supermarket chain) and Nagasakiya (a group of restaurants) failed in the retail market because of their poor response to the changing tastes and demands of the customers. Don Quixote (a general merchandiser), Mitsukoshi, Aeon Corporation are also facing difficulty in sustaining their positions. The successful companies include Louis Vuitton and the French hypermarket chain, Carrefour. By 2003, two Japanese companies were enjoying success in the Japanese market – Uniqlo, one of the largest retailers in the apparel sector and a new company retailing cream puffs named Beard Papa. Uniqlo is also present in UK and the US, and of late, Beard Papa has also opened a new restaurant chain in Manhattan, New York. However, these two companies could foray into the international market only after succeeding in the difficult retail market of Japan. |
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