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>After stellar growth in 2020, the e-commerce market grew much slower in 2021 but still outpaced all other channels and set the second highest increase in four years.</li>
<li>At this rate, by 2025 e-commerce should become the largest retail channel, overtaking chain stores.</li>
<li>Japan’s easy access to retail stores means shops aren’t about to disappear anytime soon and Japan will become a model for omnichannel retailing with stores still playing a key role.</li>
</ul>


After stellar growth in 2020, the e-commerce market grew much slower in 2021 but still outpaced all other channels and set the second highest increase in four years.
At this rate, by 2025 e-commerce should become the largest retail channel, overtaking chain stores.
Japan’s easy access to retail stores means shops aren’t about to disappear anytime soon and Japan will become a model for omnichannel retailing with stores still playing a key role.


Japanese E-Commerce Big Review: Still Taking Market Share as Omnichannel Becomes the Norm

Equity Bottom-Up

<ul>
<li>Three years ago, Itochu Corp made it clear it would be investing heavily in its brand business.</li>
<li>It has been true to its word, adding the likes of Reebok, Under Armour and Forever 21 to its portfolio in the last year alone.</li>
<li>It has now signed a deal with long-term Japan operator, L.L.Bean, while gearing up for a major relaunch of Eddie Bauer.</li>
</ul>


Three years ago, Itochu Corp made it clear it would be investing heavily in its brand business.
It has been true to its word, adding the likes of Reebok, Under Armour and Forever 21 to its portfolio in the last year alone.
It has now signed a deal with long-term Japan operator, L.L.Bean, while gearing up for a major relaunch of Eddie Bauer.


Itochu Signs L.L.Bean License, Gears up Forever 21 and Eddie Bauer Relaunches

<ul>
<li>Zozo may be the leading online fashion mall but it has spent the last two years using its power to drive more traffic to its merchants’ physical stores. </li>
<li>Its latest service allows stores to sell stock held at Zozo’s fulfilment centre when they themselves have sold out and thus avoid lost sales opportunities.</li>
<li>Zozo itself, meanwhile, will open a physical store in Omotesando but one entirely devoted to styling services for its customers.</li>
</ul>


Zozo may be the leading online fashion mall but it has spent the last two years using its power to drive more traffic to its merchants’ physical stores. 
Its latest service allows stores to sell stock held at Zozo’s fulfilment centre when they themselves have sold out and thus avoid lost sales opportunities.
Zozo itself, meanwhile, will open a physical store in Omotesando but one entirely devoted to styling services for its customers.


Zozo Opens Store in Omotesando, to Increase Retail Ties

<ul>
<li>Nitori dominates in home decor and furniture but now wants to become a top 10 fashion retailer through its N+ chain targeting older women. </li>
<li>It will raise the rate of new stores to 30 a year and then to up to 100 a year as it reaches scale. </li>
<li>Will it be the Uniqlo for the middle-aged? If so it could own a chunk of a segment worth an estimated ¥2.5 trillion.</li>
</ul>


Nitori dominates in home decor and furniture but now wants to become a top 10 fashion retailer through its N+ chain targeting older women. 
It will raise the rate of new stores to 30 a year and then to up to 100 a year as it reaches scale. 
Will it be the Uniqlo for the middle-aged? If so it could own a chunk of a segment worth an estimated ¥2.5 trillion.


Nitori to Ramp up N+ Clothing Chain – ¥500 Billion in New Sales?

<ul>
<li>The apparel/fashion sector made a partial recovery last year but was still down on 2019. 2022 looks a lot brighter with customers now back in stores including even inbound tourists. </li>
<li>The same challenges that the sector faced before Covid remain but there is plenty of room to grow by taking share from the less innovative competitors – i.e. more consolidation.</li>
<li>The sector saw the highest fall in store numbers in its history last year, but there was more investment in creating a compelling omnichannel model suited to Japan’s particular market.</li>
</ul>


The apparel/fashion sector made a partial recovery last year but was still down on 2019. 2022 looks a lot brighter with customers now back in stores including even inbound tourists. 
The same challenges that the sector faced before Covid remain but there is plenty of room to grow by taking share from the less innovative competitors – i.e. more consolidation.
The sector saw the highest fall in store numbers in its history last year, but there was more investment in creating a compelling omnichannel model suited to Japan’s particular market.


Japan's Apparel/Fashion Sector Big Review: Momentum Builds for Full Recovery

Japan

Adastria Co., Ltd. operates a chain of clothing stores in Japan. The Company also operates stores in China, Taiwan, Hong Kong and Korea.

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Adastria Co Ltd (2685 JP)

Itochu Signs L.L.Bean License, Gears up Forever 21 and Eddie Bauer Relaunches

Itochu continues to gain share in consumer goods distribution in Japan, particularly in fashion and lifestyle sectors, resulting in consistently...

Michael Causton

Zozo Opens Store in Omotesando, to Increase Retail Ties

Zozo has proven that it can continue to innovate in the nexus between fashion and technology even without its founder and in fact has become more...

Michael Causton

Nitori to Ramp up N+ Clothing Chain – ¥500 Billion in New Sales?

Nitori has been underestimated before and now apparel retailers believe Nitori doesn't have the experience to take them on. They are wrong. It...

Michael Causton

Japan's Apparel/Fashion Sector Big Review: Momentum Builds for Full Recovery

Japan's fashion and apparel sector was severely hit by the pandemic and the loss of tourism. With wallets full, Japanese are now spending again...

Michael Causton

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japanese E-Commerce Big Review: Still Taking Market Share as Omnichannel Becomes the Norm

Japanese e-commerce continues to take more share from other retail channels but Japan is developing a sophisticated omnichannel model where stores...

Michael Causton

Itochu Signs L.L.Bean License, Gears up Forever 21 and Eddie Bauer Relaunches

Itochu continues to gain share in consumer goods distribution in Japan, particularly in fashion and lifestyle sectors, resulting in consistently...

Michael Causton

Zozo Opens Store in Omotesando, to Increase Retail Ties

Zozo has proven that it can continue to innovate in the nexus between fashion and technology even without its founder and in fact has become more...

Michael Causton

Nitori to Ramp up N+ Clothing Chain – ¥500 Billion in New Sales?

Nitori has been underestimated before and now apparel retailers believe Nitori doesn't have the experience to take them on. They are wrong. It...

Michael Causton

Japan's Apparel/Fashion Sector Big Review: Momentum Builds for Full Recovery

Japan's fashion and apparel sector was severely hit by the pandemic and the loss of tourism. With wallets full, Japanese are now spending again...

Michael Causton