THE CONTINUALLY CHANGING LANDSCAPE OF PRIME RETAIL MARKETS ACROSS JAPAN
Our biennial report covers the shifts in Japan’s retail market and consumer trends, including:
- The ranking of retail locations based on rent prices
- Changes in rent prices due to tourism and redevelopment
- The Shibuya station development project
- Shifts toward an experience-based retail market
Some of the key highlights for retailers include:
- Tourism figures posted a 13% growth rate in Q1 2017 and are on pace to reach the 40 million visitors target. However, the high volume of travellers has caused top-end rents in Shinsaibashi to rise by 66%.
- The PARCO redevelopment project is scheduled to be completed in the fall of 2019 and is predicted to draw in pedestrian flow from the iconic Shibuya crossing. This has caused a dilemma amongst retailers to relocate to the Shibuya station area.
- Experiential retail has become a megatrend in the Japanese retail environment causing an increase in community-oriented stores, athleisure brands, pop-up shops and food halls.
