The convenience store goods sales in Japan rose steadily from 2013 through 2019, with increases ranging between 1-5% year-on-year. However, 2020 experienced a sharp decline of nearly 15% due to the COVID-19 pandemic. Recovery was marked in 2021 with an impressive rebound of over 16%. By 2023, sales amounted to 12.524 trillion yen, reflecting a modest growth of almost 2% year-on-year. Projections indicate continued growth, albeit at a slower pace. The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is forecasted at 1.49%, with an overall growth rate of 7.68% for this period.
A few future trends to watch include:
- Impact of digitalization and online retail integration.
- Consumer preference shifts towards healthier and convenience-oriented products.
- Adaptation to demographic changes, particularly the aging population.
- Responses to environmental sustainability concerns.
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