The department stores and supermarkets sector in Japan has shown a diverse range of trends from 2013 to 2023. In 2023, the number of establishments stood at 5.96 thousand. Variability in year-on-year growth has been notable, with significant increases in 2019 (+14.6%) followed by slight declines in subsequent years. Over the last two years, the growth rate stabilized at approximately 0.95% and 0.97% respectively. From a five-year perspective, the Compound Annual Growth Rate (CAGR) from 2018 to 2023 averaged 2.74% annually. Looking ahead, the forecast indicates more moderated growth with a CAGR of 0.75% for the period from 2024 to 2028, reflecting an overall growth rate of 3.82% by the end of 2028.
Future trends to watch for include:
- Influence of e-commerce and digital transformation on traditional retail formats
- Shifts in consumer behavior towards more sustainable and convenient shopping experiences
- Impact of demographic changes, particularly an aging population, on retail demand
- Strategic adaptations by retailers to maintain competitiveness and market share
