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>Lowya began as an online furniture retailer and is still one of the largest in e-commerce, but limited brand awareness has held it back and sales fell last year. </li>
<li>Vega Corporation, Lowya’s parent, is now expanding physical stores and offering omnichannel solutions to fix the problem.</li>
<li>This makes sense in a market where stores remain preeminent and are likely to remain so.</li>
</ul>


Lowya began as an online furniture retailer and is still one of the largest in e-commerce, but limited brand awareness has held it back and sales fell last year. 
Vega Corporation, Lowya’s parent, is now expanding physical stores and offering omnichannel solutions to fix the problem.
This makes sense in a market where stores remain preeminent and are likely to remain so.


Vega's Lowya Expanding Omnichannel to Grow Audience

<ul>
<li>Growth in the Japanese home interiors and furniture markets is set to continue long-term. </li>
<li>At present, just a handful of brands have any major presence led by <a href="https://www.smartkarma.com/entities/nitori-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:20386:1" rel="noopener">Nitori Holdings (9843 JP)</a> which continues to expand market share.</li>
<li>With multiple formats, Nitori looks set to continue to dominate but faces competition from unlikely quarters, especially <a href="https://www.smartkarma.com/entities/yamada-denki-co-ltd" target="_blank" data-smartkarma-citation="entities:641:1" rel="noopener">Yamada Denki (9831 JP).</a>
</li>
</ul>


Growth in the Japanese home interiors and furniture markets is set to continue long-term. 
At present, just a handful of brands have any major presence led by Nitori Holdings (9843 JP) which continues to expand market share.
With multiple formats, Nitori looks set to continue to dominate but faces competition from unlikely quarters, especially Yamada Denki (9831 JP).



Interiors Long-Term Growth in Japan a Plus for Nitori

<ul>
<li>Lowya is an online furniture brand run by Vega Corp that hit the headlines with 42% growth in 2020 while most other lifestyle retailers were reeling from the pandemic. </li>
<li>Sales fell last year post-Covid and won't grow much this year either but Lowya wants to become a ¥60 billion business and looks a good bet for the long-term.</li>
<li>Lowya will shift to a mall model similar to Zozo which should allow it to grow faster, while tie-ups with major retailers like Aeon should raise brand awareness fast.</li>
</ul>


Lowya is an online furniture brand run by Vega Corp that hit the headlines with 42% growth in 2020 while most other lifestyle retailers were reeling from the pandemic. 
Sales fell last year post-Covid and won't grow much this year either but Lowya wants to become a ¥60 billion business and looks a good bet for the long-term.
Lowya will shift to a mall model similar to Zozo which should allow it to grow faster, while tie-ups with major retailers like Aeon should raise brand awareness fast.


Thematic (Sector/Industry)

<ul>
<li>Japan may have discovered home decoration and DIY later than some markets but it has made up for this with a convert’s enthusiasm. </li>
<li>In the last decade, the market has grown around 50% and a host of brands and retailers have flourished.</li>
<li>These include <a href="https://www.smartkarma.com/entities/nitori-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:20386:1" rel="noopener">Nitori Holdings (9843 JP)</a>, <a href="https://www.smartkarma.com/entities/ryohin-keikaku-co-ltd" target="_blank" data-smartkarma-citation="entities:2765:1" rel="noopener">Ryohin Keikaku (7453 JP)</a> and the home centres like Cainz and <a href="https://www.smartkarma.com/entities/dcm-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:13042:1" rel="noopener">DCM Holdings (3050 JP). </a> The long-term outlook remains positive.</li>
</ul>


Japan may have discovered home decoration and DIY later than some markets but it has made up for this with a convert’s enthusiasm. 
In the last decade, the market has grown around 50% and a host of brands and retailers have flourished.
These include Nitori Holdings (9843 JP), Ryohin Keikaku (7453 JP) and the home centres like Cainz and DCM Holdings (3050 JP).  The long-term outlook remains positive.


Nitori, Muji Still Benefitting from a Flourishing Japan Home Decor Market

Japan

Vega Corporation K.K.'s line of business includes the online retail sales of furnitures. The Company also develops and distribute mobile game apps for smartphone.

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Vega Corp (3542 JP)

Vega's Lowya Expanding Omnichannel to Grow Audience

Lowya, the online furniture retailer, is expanding physical stores and omnichannel solutions to boost sales due to limited brand awareness and...

Michael Causton

Interiors Long-Term Growth in Japan a Plus for Nitori

Japan's interiors consumption has been one of the few categories to grow consistently and will continue to grow steadily as Japanese appetite for...

Michael Causton

Lowya – the Zozo of Home Decor?

Home decoration is a strong consumer category in Japan and Lowya a big name in online furniture. Tie-ups with Aeon and its own stores combined with...

Michael Causton

Nitori, Muji Still Benefitting from a Flourishing Japan Home Decor Market

Japan's home decoration market grew fast in the pandemic but has been growing for 10 years and will continue to outperform other consumer...

Michael Causton

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Vega's Lowya Expanding Omnichannel to Grow Audience

​Lowya, the online furniture retailer, is expanding physical stores and omnichannel solutions to boost sales due to limited brand awareness and...

Michael Causton

Interiors Long-Term Growth in Japan a Plus for Nitori

Japan's interiors consumption has been one of the few categories to grow consistently and will continue to grow steadily as Japanese appetite for...

Michael Causton

Lowya – the Zozo of Home Decor?

Home decoration is a strong consumer category in Japan and Lowya a big name in online furniture. Tie-ups with Aeon and its own stores combined with...

Michael Causton

Nitori, Muji Still Benefitting from a Flourishing Japan Home Decor Market

Japan's home decoration market grew fast in the pandemic but has been growing for 10 years and will continue to outperform other consumer...

Michael Causton

Lowya, the online furniture retailer, is expanding physical stores and omnichannel solutions to boost sales due to limited brand awareness and...