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. 

Equity Bottom-Up

<ul>
<li>Seven &amp; I has announced major restructuring of its struggling Ito-Yokado GMS chain – a company that big investors have long demanded be sold off entirely. </li>
<li>The latest round of cuts had to wait until the company’s founder finally passed away, although are likely not going to be the last.</li>
<li>Seven &amp; I has long had a coherent plan to rationalise - but was just waiting for the founder to pass – with a series of disposals now likely.</li>
</ul>


Seven &amp; I has announced major restructuring of its struggling Ito-Yokado GMS chain – a company that big investors have long demanded be sold off entirely. 
The latest round of cuts had to wait until the company’s founder finally passed away, although are likely not going to be the last.
Seven &amp; I has long had a coherent plan to rationalise - but was just waiting for the founder to pass – with a series of disposals now likely.


Seven & I: The Biggest Barrier to Change Has Gone

Thematic (Sector/Industry)

<ul>
<li>E-Commerce growth slowed marginally as the sector consolidated post-Covid but remained higher than any other channel in 2022. </li>
<li>By 2025-26, it will be the largest channel, overtaking convenience stores – but Japan’s continuing support for retail stores means that omnichannel will be the main model.</li>
<li>As a result, the majority of transactions will be researched, initiated, and fulfilled through a combination of online and physical stores.</li>
</ul>


E-Commerce growth slowed marginally as the sector consolidated post-Covid but remained higher than any other channel in 2022. 
By 2025-26, it will be the largest channel, overtaking convenience stores – but Japan’s continuing support for retail stores means that omnichannel will be the main model.
As a result, the majority of transactions will be researched, initiated, and fulfilled through a combination of online and physical stores.


E-Commerce in Japan: Omnichannel Consolidation

<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

<ul>
<li>The last 18 months were the most traumatic for the fashion retail history since WWII. </li>
<li>Average household consumption budgets for apparel fell 18% in 2020 to a monthly average of just ¥10,655, 22% down on five years previously.</li>
<li>The following is an in-depth review of the fashion sector with unique rankings of the top 100, most profitable, fastest growing chains.</li>
</ul>


The last 18 months were the most traumatic for the fashion retail history since WWII. 
Average household consumption budgets for apparel fell 18% in 2020 to a monthly average of just ¥10,655, 22% down on five years previously.
The following is an in-depth review of the fashion sector with unique rankings of the top 100, most profitable, fastest growing chains.


Fashion Retailing 2020-21: Leading Brands Suffer Worst Year in Modern History

Contraction in apparel consumption aside, Japanese fashion retailers and brands have made dramatic strides to pull in customers online with e-commerce sales up 24% last year according to one survey, faster than the growth in e-commerce overall. Even some wholesalers are succeeding digitally. 
What the results show is a breakthrough shift to online with likely further growth this year, taking the online channel’s share above 25% and more than 30% for many of those firms with higher online ratios.

Contraction in apparel consumption aside, Japanese fashion retailers and brands have made dramatic strides to pull in customers online with e-commerce sales up 24% last year according to one survey, faster than the growth in e-commerce overall. Even some wholesalers are succeeding digitally. 
What the results show is a breakthrough shift to online with likely further growth this year, taking the online channel’s share above 25% and more than 30% for many of those firms with higher online ratios.

Japan

BELLUNA CO., LTD. is a mail-order company offering clothing, household goods, and hobby goods through catalogs.  The Company also provides financing service.

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Belluna Co Ltd (9997 JP)

Seven & I: The Biggest Barrier to Change Has Gone

Activist investors complain about the lack of change at Seven & I but fealty to the founder was always stronger. That has now gone and a lot of...

Michael Causton

E-Commerce in Japan: Omnichannel Consolidation

E-commerce growth in Japan remains strong post-Covid, set to overtake convenience stores by 2025-26, with omnichannel model becoming dominant for...

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

Fashion Retailing 2020-21: Leading Brands Suffer Worst Year in Modern History

This insight is an in-depth review of Japan's apparel sector providing key background and comparisons for investors, including rankings of the top...

Michael Causton

Japan Online Fashion Sales Soar

Before, the boom in online was just a theory but the numbers now make it clear that Japanese consumers have shifted their spending habits,...

Michael Causton

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Seven & I: The Biggest Barrier to Change Has Gone

Activist investors complain about the lack of change at Seven & I but fealty to the founder was always stronger. That has now gone and a lot of...

Michael Causton

E-Commerce in Japan: Omnichannel Consolidation

​E-commerce growth in Japan remains strong post-Covid, set to overtake convenience stores by 2025-26, with omnichannel model becoming dominant for...

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

Fashion Retailing 2020-21: Leading Brands Suffer Worst Year in Modern History

This insight is an in-depth review of Japan's apparel sector providing key background and comparisons for investors, including rankings of the top...

Michael Causton

Japan Online Fashion Sales Soar

Before, the boom in online was just a theory but the numbers now make it clear that Japanese consumers have shifted their spending habits,...

Michael Causton

E-commerce growth in Japan remains strong post-Covid, set to overtake convenience stores by 2025-26, with omnichannel model becoming dominant for...