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>Decathlon entered the Japanese retail market in 2017 with the opportunity to take a significant share of a growing sports and athleisure sector.</li>
<li>But the French firm is already retreating: it will close its two stores and focus on online and wholesaling. </li>
<li>The market is poorer for but it does leave the market wide open for Workman – which built a consumer chain to combat Decathlon – to become dominant.</li>
</ul>


Decathlon entered the Japanese retail market in 2017 with the opportunity to take a significant share of a growing sports and athleisure sector.
But the French firm is already retreating: it will close its two stores and focus on online and wholesaling. 
The market is poorer for but it does leave the market wide open for Workman – which built a consumer chain to combat Decathlon – to become dominant.


Workman Wins as Decathlon Closes Japan Stores

<ul>
<li>The disparity between the leading footwear retailers continues to widen.</li>
<li>ABC Mart is pulling so far ahead that it has the market almost to itself. </li>
<li>Chiyoda may have finally turned the corner but G-Foot may need further financial support from Aeon.</li>
</ul>


The disparity between the leading footwear retailers continues to widen.
ABC Mart is pulling so far ahead that it has the market almost to itself. 
Chiyoda may have finally turned the corner but G-Foot may need further financial support from Aeon.


ABC Mart Forges Further Ahead of Competitors

Thematic (Sector/Industry)

<ul>
<li>Last week in Japan's retail sector: continued weakness in shopping mall development due to both falling demand from tenants and competition from online.</li>
<li>Don Quijote operator, Pan Pacific posted strong results, reflecting high demand from both locals looking for value and tourists browsing for fun.</li>
<li>The retail sector had a record year in FY23, but a big constraint is the labour shortage but, with many fit older Japanese, some employees are now over 80. </li>
</ul>


Last week in Japan's retail sector: continued weakness in shopping mall development due to both falling demand from tenants and competition from online.
Don Quijote operator, Pan Pacific posted strong results, reflecting high demand from both locals looking for value and tourists browsing for fun.
The retail sector had a record year in FY23, but a big constraint is the labour shortage but, with many fit older Japanese, some employees are now over 80. 


Japan's Retail Week: New Malls Slow, Lawson/Muji Get Closer, Donki Booms and Jobs for the over 80s

<ul>
<li>Japan has a solid if stagnant footwear market, yet it only has one compelling nationwide footwear retailer.</li>
<li>ABC Mart continues to outperform its smaller rivals, with little competition as its main rivals decline further.</li>
<li>The real competition is coming from brands selling directly to customers via their own stores and online – and low-cost retailers nipping at its heels from below.</li>
</ul>


Japan has a solid if stagnant footwear market, yet it only has one compelling nationwide footwear retailer.
ABC Mart continues to outperform its smaller rivals, with little competition as its main rivals decline further.
The real competition is coming from brands selling directly to customers via their own stores and online – and low-cost retailers nipping at its heels from below.


<ul>
<li>Footwear sales plummeted during Covid, except for sports and hiking shoes, with a deleterious impact on all the big three retailers. </li>
<li>While ABC Mart has recovered, Chiyoda and G-Foot continue to struggle, leaving the market wide open. </li>
<li>Disruption is coming in the form of Workman but others might also see the opportunity.</li>
</ul>


Footwear sales plummeted during Covid, except for sports and hiking shoes, with a deleterious impact on all the big three retailers. 
While ABC Mart has recovered, Chiyoda and G-Foot continue to struggle, leaving the market wide open. 
Disruption is coming in the form of Workman but others might also see the opportunity.


ABC Mart Rebounds in Weakened Sector but Watch Out for Workman

Japan

CHIYODA CO., LTD. operates specialty store chains including shoes stores, toy stores, and also casual clothe stores nationwide.  The Company sells its shoes under a number of store chains including The SHOES, Kutsu Chiyoda, and SHOE PLAZA.

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Chiyoda Co Ltd (8185 JP)

Workman Wins as Decathlon Closes Japan Stores

Workman has won the battle for Japan's low price sports and outdoor market. Decathlon is in retreat and no other retailer comes close on cost...

Michael Causton

ABC Mart Forges Further Ahead of Competitors

ABC Mart is dominating the footwear retail market, leaving competitors like Chiyoda and G-Foot struggling to keep up. ABC also has a strong growth...

Michael Causton

Japan's Retail Week: New Malls Slow, Lawson/Muji Get Closer, Donki Booms and Jobs for the over 80s

Japan's retail sector in the last week: Shopping mall development slows, Don Quijote operator Pan Pacific sees strong demand from locals and...

Michael Causton

ABC Mart Expands Lead in Footwear

Despite a stagnant market, ABC Mart remains dominant in Japan's footwear industry, although it is now facing competition from direct brand sales...

Michael Causton

ABC Mart Rebounds in Weakened Sector but Watch Out for Workman

Japan's footwear market is rebounding after a tough pandemic but only ABC Mart is showing real signs of recovery and future growth. The weak state...

Michael Causton

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Workman Wins as Decathlon Closes Japan Stores

Workman has won the battle for Japan's low price sports and outdoor market. Decathlon is in retreat and no other retailer comes close on cost...

Michael Causton

ABC Mart Forges Further Ahead of Competitors

​ABC Mart is dominating the footwear retail market, leaving competitors like Chiyoda and G-Foot struggling to keep up. ABC also has a strong growth...

Michael Causton

Japan's Retail Week: New Malls Slow, Lawson/Muji Get Closer, Donki Booms and Jobs for the over 80s

Japan's retail sector in the last week: Shopping mall development slows, Don Quijote operator Pan Pacific sees strong demand from locals and...

Michael Causton

ABC Mart Expands Lead in Footwear

​Despite a stagnant market, ABC Mart remains dominant in Japan's footwear industry, although it is now facing competition from direct brand sales...

Michael Causton

ABC Mart Rebounds in Weakened Sector but Watch Out for Workman

Japan's footwear market is rebounding after a tough pandemic but only ABC Mart is showing real signs of recovery and future growth. The weak state...

Michael Causton

ABC Mart is dominating the footwear retail market, leaving competitors like Chiyoda and G-Foot struggling to keep up. ABC also has a strong growth...

Despite a stagnant market, ABC Mart remains dominant in Japan's footwear industry, although it is now facing competition from direct brand sales...