Value sales within the Japanese personal goods retailers market remained relatively flat in 2012.
With a slow economic recovery, consumers continued to economise over the past four years. Although jewellery and watch specialist retailers demonstrated strong growth, underperformance of media products stores and stationers/office supply stores negatively affected the aggregate sales of personal goods retailers in 2012.
Media products stores posted value sales decline of 2% in 2012. It has become much easier to obtain information from the internet and read news or articles online. Consumers are using the internet more to search for information instead of relying on printed materials such as books and magazines.
Additionally, the growing popularity of internet retailers such as Amazon threatens the presence of small independently- owned media products stores. Although younger generations are known to spend little on books, magazines also saw a decline in circulation numbers. As magazines are published monthly or weekly, the cash flow return is much more frequent than for one-time book purchases.
Sports goods stores saw value sales increase by 2% in 2012. After the Tohoku earthquake in March, consumers temporarily avoided outdoor activities with a major concern about radiation leakage in 2011. After a year had passed since the incident, consumers began to return to outdoor sports activities. With growing awareness of health among consumers, running and exercising are continued trends across age groups.
Value sales within the Japanese personal goods retailers market are expected to post a negative compound annual growth rate (CAGR) of 1% through to 2017. Although jewellery and watch specialist retailers, pet shops and superstores, and sports goods stores are expected to grow their sales, further decline by media products stores and stationers/office supply stores will drive category decline over the next five years.
For media products stores, those outlets selling books and magazines are likely to suffer most with the emergence of e-books and internet retailing. As it will be impossible to reverse the spread of computers and other portable digital media, stationers/office supply stores may be required to change their product offering to remain strong in the competitive market.
For more information on the Japanese personal goods retailers market, see the latest research: Japanese Personal Goods Retailers Market
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