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>The clothing sections of GMS chains and supermarkets have declined so far in relevance that most assume the format will disappear entirely. </li>
<li>But new efforts by Aeon, as well as collaborations by the likes of Ito-Yokado, could lead to a new lease of life and higher margins.</li>
<li>This may impact on retailers like Shimamura but the more likely result will be new opportunities to takeover supermarket apparel floors as Adastria is doing already.</li>
</ul>


The clothing sections of GMS chains and supermarkets have declined so far in relevance that most assume the format will disappear entirely. 
But new efforts by Aeon, as well as collaborations by the likes of Ito-Yokado, could lead to a new lease of life and higher margins.
This may impact on retailers like Shimamura but the more likely result will be new opportunities to takeover supermarket apparel floors as Adastria is doing already.


<ul>
<li>As outlined in previous reports, Aeon has been working hard to streamline its vast retail empire but also rethinking the fundamentals of retailing for each major format it operates.</li>
<li>The results are now coming through with a big increase in operating profits in 1H2023, up 23% on last year.</li>
<li>There is real momentum now, and the new online supermarket business is central to its ambitions to create the first true national FMCG business.</li>
</ul>


As outlined in previous reports, Aeon has been working hard to streamline its vast retail empire but also rethinking the fundamentals of retailing for each major format it operates.
The results are now coming through with a big increase in operating profits in 1H2023, up 23% on last year.
There is real momentum now, and the new online supermarket business is central to its ambitions to create the first true national FMCG business.


Aeon Keeps Working After High Profit Growth

<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.


Japan

GFOOT CO., LTD. operates a shoe store chain in mainly in Aichi Prefecture, and Tokyo, Kanagawa, and Saitama Prefectures.  The Company sells shoes for men, women and children, sports shoes, and rain shoes.

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Gfoot Co Ltd (2686 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

A Supermarket Clothing Revival in Japan?

GMS chains and supermarkets are reviving their clothing sections, potentially creating new opportunities for higher margins at GMS operations.

Michael Causton

Aeon Keeps Working After High Profit Growth

Aeon's efforts to revamp its retail empire and rethink strategies are paying off, with a 23% rise in OP in 1H2023. A new online store is key to...

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

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

A Supermarket Clothing Revival in Japan?

​GMS chains and supermarkets are reviving their clothing sections, potentially creating new opportunities for higher margins at GMS operations.

Michael Causton

Aeon Keeps Working After High Profit Growth

​Aeon's efforts to revamp its retail empire and rethink strategies are paying off, with a 23% rise in OP in 1H2023. A new online store is key to...

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

GMS chains and supermarkets are reviving their clothing sections, potentially creating new opportunities for higher margins at GMS operations.

Aeon's efforts to revamp its retail empire and rethink strategies are paying off, with a 23% rise in OP in 1H2023. A new online store is key to...

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