“Japanese retail giant Seven & I Holdings Co., Ltd. said Friday its Ito-Yokado Co. supermarket chain will shut down 40 unprofitable stores, or about 20 percent of its stores, over the next few years.
It is expected to close several stores within its current business year ending in February 2016.
The plan comes after the operating profit for the retail group’s supermarket division in the year to last February plunged 34.8 percent from a year earlier amid a consumer tendency to prefer specialty stores such as the Uniqlo casual clothing chain over general supermarkets.” (The Japan Times)
Today’s Japanese consumers seem to prefer “specialty stores” over general supermarkets. This is one of the changes to the traditional Japanese Consumer Mindset. Which one do you prefer and why?
Read more from:
- Retail in Japan : “specialty stores” vs general supermarkets?
- one of our previous posts: The Japanese Consumer Mindset