According to CBRE’s latest report on the retail real estate sector, Tokyo is the world’s hottest city for new retailer expansion, attracting 63 new retail brands, followed by Singapore with 58.
Domestic demand in Tokyo is expected to grow via the government’s initiative to attract more tourists to the country. In Singapore, food and beverage operators were among the most active in snapping up new real estate leases.
On a related note, retailers still substantial growth opportunities in the Asia Pacific region as 41% of American retailers continue to focus on the Asia region, while 79% of Asian retailers continue to target their own regions for further business expansion.
Major bookstore, Kinokuniya, has said that it had ordered 90 percent of Murakami’s Novelist as a Vocation to shake up the local publishing market. Kinokuniya is supplying more than half of what it ordered to local bookstores to ensure that online booksellers do not shut them out of the sales of the collection of essays.
According to Kinokuniya, the current distribution system of selling books from publishers to bookstores via distributors results in huge waste and high costs. As a result, the bookstore (one of Japan’s largest) is trying to disrupt the existing distribution method, in hope of reversing the decline in readership due to increasing online shopping and ebooks.
From red wine in plastic bottles and lunchtime sushi to trendy manbags and adjustable wrenches, Japanese males appear mesmerized by the price tag of 100yen offered on an array of goods at booming discount retailers.
In recent years, an increasing number of 100yen shops have been set up in the Tokyo business district, catering primarily to corporate working professionals. According to Kazuya Kido, president of CanDo, one of Japan’s largest 100yen stores, women account for 70 percent of customers. However, many products sold at CanDo’s stores are now aimed at men, as the stigma of visiting a 100yen shop has subsided over the years.