Weak domestic consumption due to an uncertain outlook
First written in FY2017-Q1. 16 of 40 entries say "Worsened", first in FY2017-Q2. Latest entry: FY2027-H1.
Abc-Mart moved to the "Worse" side of this theme in 2016, 4 years before the typical company in this theme (2020).
The whole theme swung hardest in 2020: 10 of 14 companies on the "Worse" side.
2 other companies' latest entry also says "Softened".
- FY2027-H1SoftenedAnnual report
「Domestic demand increased moderately, supported by improvements in personal income and employment conditions and an increase in inbound demand.」
The filing stated that domestic demand increased moderately against a backdrop of improving personal income and employment conditions and rising inbound demand. The weakening factor identified in the previous filing, namely the increasingly pronounced preference for saving, was not highlighted at the beginning of this filing. - FY2026WorsenedAnnual report
「At the same time, consumers have become increasingly focused on saving as prices continue to rise, making it necessary to develop strategies aligned with personal consumption trends.」
Although domestic consumption was said to have increased moderately, consumers' focus on saving became more pronounced against a backdrop of rising prices, once again clarifying factors weighing on consumption. - 2026-04-08WorsenedEarnings
「At the same time, consumers’ preference for thrift has become increasingly pronounced amid continuing price increases, making it necessary to develop strategies aligned with trends in personal consumption.」
The disclosure added that consumers in Japan had become markedly more inclined to economize. - FY2026-H1SoftenedAnnual report
「Domestic demand increased moderately, supported by improvements in personal income and employment conditions accompanying higher corporate earnings, as well as increased inbound demand.」
The filing stated that domestic demand increased moderately against a backdrop of improved personal income and employment conditions and increased inbound demand. The aspects of weak domestic consumption and more stringent customer selectivity were not prominent in this filing's relevant discussion. - FY2025WorsenedAnnual report
「Customers have become more selective as product prices rise, but demand is trending higher for high-value-added products, including products supported by underlying demand and trend products.」
The filing stated that customers had become more selective in choosing products against a backdrop of rising product prices. At the same time, it noted increased demand for high-value-added products, including products supported by underlying demand and trend products. - FY2025-H1WorsenedAnnual report
「In the footwear industry, customers have become more selective as product prices rise. However, demand has increased for high-value-added products, including products supported by underlying demand and trend products.」
Against a backdrop of rising product prices, customers were said to have become more selective in choosing products, with consumer selectivity becoming increasingly stringent. At the same time, increased demand for high-value-added products was also noted. - FY2025-Q1ReframedAnnual report
「In the footwear industry, customers are becoming more selective as product prices rise. However, demand is trending higher for high-value-added products, including products supported by underlying demand and trend products.」
While the analysis indicated that customers are becoming more selective due to higher product prices, it also noted increased demand for high-value-added products, including products supported by underlying demand and trend products. - FY2024-Q3RestatedAnnual report
「In terms of consumption trends, rising prices for energy, food, and other items have made customers' price sensitivity increasingly polarized between everyday consumables and discretionary goods, while demand for footwear as a trend product is showing a certain degree of growth.」
The view that consumers' price sensitivity has become polarized between everyday consumables and discretionary goods against a backdrop of higher energy and food prices continues to be highlighted. - FY2024-Q2RestatedAnnual report
「In terms of consumption trends, rising product prices have made customers' price sensitivity increasingly polarized between everyday consumables and discretionary goods.」
The view that consumers' price sensitivity remains polarized between everyday consumables and discretionary goods against a backdrop of rising product prices continues to be highlighted. - FY2024-Q1ReframedAnnual report
「In terms of consumption trends, rising product prices have made customers' price sensitivity increasingly polarized between everyday consumables and discretionary goods.」
In addition to existing concerns about weak domestic consumption and sluggish consumption due to higher prices, the analysis identified a polarization in consumers' price sensitivity between everyday consumables and discretionary goods against a backdrop of rising product prices. - FY2023ReframedAnnual report
「Meanwhile, the yen has continued to weaken and prices have remained high amid rising geopolitical risks, raising concerns about a slowdown in the economic recovery.」
While acknowledging the improvement in domestic consumption from the recovery in foot traffic and inbound demand, the focus was placed on concerns about a slowdown in the economic recovery through geopolitical risks, the weaker yen, and higher prices. - FY2023-Q3ReframedAnnual report
「Prices continue to rise due to the sharp depreciation of the yen, raising concerns about a slowdown in the economic recovery.」
While acknowledging the increase in domestic consumption resulting from higher foot traffic and the recovery in inbound demand, the focus was placed on concerns about a slowdown in the economic recovery through higher prices caused by the sharp depreciation of the yen. - FY2023-Q2RestatedAnnual report
「The consumption environment has been improving as foot traffic increases, but raw material prices and logistics costs continue to rise, while prices remain elevated due to the sharp depreciation of the yen, all reflecting the impact of the global economy. Concerns remain about sluggish consumption going forward.」
The improvement from increased foot traffic and concerns about sluggish consumption against a backdrop of higher raw material and consumer prices, logistics disruptions, and the sharp depreciation of the yen continue to be highlighted. - FY2023-Q1ReframedAnnual report
「The consumption environment is improving as foot traffic increases, but raw material prices and logistics costs continue to rise, while prices remain elevated due to the sharp depreciation of the yen, all reflecting the impact of the global economy. Concerns remain about sluggish consumption going forward.」
While acknowledging the improvement in the consumption environment from increased foot traffic, the focus was placed on concerns about future sluggish consumption driven by higher raw material prices and consumer prices, logistics disruptions, and the sharp depreciation of the yen. - FY2022WorsenedAnnual report
「The consumption environment has been improving as foot traffic increases, but prices have risen due to the impact of the global economy, raising concerns about sluggish consumption.」
While acknowledging the improvement resulting from increased foot traffic, new emphasis was placed on concerns about weaker purchasing appetite and sluggish consumption against a backdrop of rising prices. - FY2022-Q3ReframedAnnual report
「The consumption environment has improved, with commercial facilities also operating almost normally, except for some facilities and including shorter-hour operations, and foot traffic increasing. However, consumption is tending to shift from purchasing goods to spending on experiences that provide psychological fulfillment.」
While the reopening of commercial facilities and increased foot traffic indicated a recovery, the shift in consumption from goods to experiences was identified as a change in the consumption environment. - FY2022-Q2WorsenedAnnual report
「Nearly all stores were able to operate normally during the quarter, including shorter-hour operations, as foot traffic increased from the same period last year and commercial facilities reduced their closure measures. However, customer numbers declined as the rapid spread of coronavirus variants reduced summer vacation demand for travel and visits to hometowns.」
Although nearly all stores were able to operate normally, the rapid spread of variants reduced summer vacation demand for travel and visits to hometowns, resulting in a decline in customer numbers. - FY2022-Q1MitigatedAnnual report
「Domestic store sales in the current quarter increased 56.8% year on year across all stores and 22.4% at existing stores. Sales improved significantly because foot traffic increased from the same period last year and commercial facilities reduced their closure measures, limiting temporary closures to just over 200 stores. (Last year, more than half of all stores were temporarily closed for 1 to 1.5 months.) However, delayed recovery in inbound demand and reduced business activity under the third declaration of a state of emergency prevented sales from recovering to the level of two years earlier. For reference, sales across all stores were down 18.9% from the same quarter two years earlier.」
Sales improved year on year at both all stores and existing stores, while temporary closures were limited to just over 200 stores. However, sales did not reach the level of two years earlier due to the delayed recovery in inbound demand and other factors, and risks remain. - FY2021WorsenedAnnual report
「Domestic store sales decreased 21.8% year on year across all stores and 15.3% at existing stores. Inbound demand disappeared from spring last year due to the impact of COVID-19, while requests to refrain from going out and shorter operating hours to prevent the spread of infection also had an impact, resulting in a significant decline in customer traffic, particularly in central urban areas.」
The disappearance of inbound demand, requests to refrain from going out, and shorter operating hours caused a significant decline in customer traffic, with domestic existing-store sales down 15.3% year on year. - FY2021-Q3WorsenedAnnual report
「Since the end of the quarter, a third wave has emerged. Going forward, concerns include a sharp increase in temporarily closed stores due to the renewed spread of infections, sluggish domestic consumption caused by requests to refrain from going out, and delays in the return of inbound visitors to urban areas and tourist destinations. These factors could adversely affect the Company's performance.」
Following the third wave of infections, the frequent temporary closure of stores, sluggish consumption caused by requests to refrain from going out, and delays in the return of inbound visitors were explicitly identified as risks to future domestic consumption and performance. - FY2021-Q2WorsenedAnnual report
「As of the end of the current quarter, the spread of infections had not yet subsided. Inbound demand, particularly in urban areas and tourist destinations, could not be expected, and requests to refrain from going out continued. If the recovery in domestic consumption is delayed, it could adversely affect the Company's performance.」
The delayed recovery in domestic consumption was identified as a risk to performance amid the lack of expected inbound demand and continued requests to refrain from going out. - FY2021-Q1WorsenedAnnual report
「In the consumer environment, the government's declaration of a state of emergency on 7 April 2020 led to successive temporary store closures to prevent the spread of infection, causing consumption to contract sharply.」
Domestic consumption contracted sharply as stores closed due to the state of emergency. - FY2020WorsenedAnnual report
「In domestic consumption, a marked decline in spending has emerged due to the consumption tax increase, successive natural disasters and the impact of COVID-19.」
The statement notes that the decline in consumption due to COVID-19 became pronounced, in addition to the impact of the consumption tax increase and natural disasters. - FY2020-Q3WorsenedAnnual report
「In domestic consumption, concerns about a contraction in spending due to successive natural disasters and the consumption tax increase persist, while inbound spending, particularly from Asia, is trending upward.」
The assessment shifted from uncertainty about the outlook following the consumption tax increase to specific concerns about a contraction in consumption due to natural disasters and the tax increase. The upward trend in inbound spending was also noted. - FY2020-Q2WorsenedAnnual report
「In Japan, concerns have begun to emerge, including stagnant corporate earnings and slower wage growth. In domestic consumption, the outlook following the consumption tax increase has become uncertain.」
New concerns regarding the domestic consumer environment were identified, including stagnant corporate earnings, slower wage growth and uncertainty about the outlook following the consumption tax increase. - FY2020-Q1ReframedAnnual report
「In Japan, concerns have begun to emerge, including stagnant corporate earnings and slower wage growth. In domestic consumption, cashless payments and other topics have attracted increasing attention, requiring retailers and other distributors to respond.」
The assessment of domestic consumption shifted to include, in addition to natural disasters and inbound spending, stagnant corporate earnings, slower wage growth and the need to respond to cashless payments. - FY2019RestatedAnnual report
「In Japan, there had been concerns that consumption would temporarily stagnate due to a series of natural disasters, but corporate earnings have improved and inbound spending has continued to expand steadily.」
Alongside concerns about a temporary stagnation in consumption due to natural disasters, the positive factors of improved corporate earnings and increased inbound spending continue to be noted. - FY2019-Q3ReframedAnnual report
「In Japan, there had been concerns that consumption would temporarily stagnate due to a series of natural disasters, but corporate earnings have improved and inbound spending has continued to expand steadily.」
The assessment shifted to indicate concerns about a temporary stagnation in domestic consumption due to natural disasters while also noting the positive factors of improved corporate earnings and increased inbound spending. - FY2019-Q2RestatedAnnual report
「In domestic consumption, competition among retailers for service quality has intensified due to the rapid growth of online commerce, making the strengthening of omnichannel strategies an urgent issue.」
The intensification of retail service competition against the backdrop of rapidly growing online commerce and the need to strengthen omnichannel strategies continue to be indicated. - FY2019-Q1ReframedAnnual report
「In Japan, there were positive signs, including improved corporate earnings and increased inbound spending. However, the emergence of labor shortages and the rapid growth of online commerce led to increased capital investment, particularly in IT. In domestic consumption, competition among retailers for service quality has intensified due to the rapid growth of online commerce, making the strengthening of omnichannel strategies an urgent issue.」
The assessment shifted from a focus on weak domestic consumption and price sensitivity to recognizing the strength of corporate earnings and inbound spending while identifying intensifying competition among retail services due to the rapid growth of online commerce as an issue. - FY2018RestatedAnnual report
「In domestic consumption, demand has grown for value-added services and other offerings in addition to consumer goods, particularly in central urban areas, amid increased spending by foreign visitors. At the same time, companies across industries have increasingly focused on retaining customers through omnichannel strategies.」
The assessment of the domestic consumer environment continues to reflect positive aspects, including spending by foreign visitors and demand for value-added offerings, as well as intensifying competition to acquire customers through omnichannel strategies. - FY2018-Q3SoftenedAnnual report
「In domestic consumption, demand has grown for value-added services and other offerings in addition to consumer goods, particularly in central urban areas, amid increased spending by foreign visitors. At the same time, companies across industries have increasingly focused on acquiring customers through omnichannel strategies.」
Unlike the previous filing, this filing does not indicate a preference for low prices or weak consumption recovery. Instead, it describes positive aspects of domestic consumption, including increased spending by foreign visitors and growing demand for value-added offerings. - FY2018-Q2RestatedAnnual report
「In domestic consumption, some consumers have again become more price-conscious due to stagnant real income, while demand has also increased for value-added services and other offerings in addition to consumer goods.」
Continued indications include price sensitivity due to stagnant real income and growing demand for value-added services and other offerings in addition to products. - FY2018-Q1ReframedAnnual report
「In domestic consumption, some consumers have again become more price-conscious due to stagnant real income, while demand has also increased for value-added services and other offerings in addition to consumer goods.」
While renewed price sensitivity due to stagnant real income was indicated, the statement also noted growing demand for value-added services and other offerings in addition to products, broadening the assessment of the consumer environment. - FY2017WorsenedAnnual report
「Private consumption has been slow to recover as consumers have again become more price-conscious due to stagnant real income.」
Price sensitivity increased again against the backdrop of stagnant real income, and the delayed recovery in consumption was explicitly noted. - FY2017-Q3WorsenedAnnual report
「Private consumption has shown signs of a weaker recovery, as inbound spending has leveled off and real income has stagnated.」
It is stated that the recovery in private consumption weakened due to a pause in inbound spending and stagnant real income. - FY2017-Q2WorsenedAnnual report
「In domestic consumption, consumers are increasingly inclined to seek reasonably priced products and better services because of their price sensitivity.」
The statement notes that consumers' price sensitivity and demand for reasonably priced products and services have increased further, emphasizing the weakness in the consumer environment in another form. - FY2017-Q1First statedAnnual report
「Although the increase in visitors to Japan from overseas is a positive factor for domestic consumption, consumer spending has been weaker than last year due to uncertainty about the outlook.」
It is stated that, despite the positive factor of more visitors to Japan, consumer spending was weaker than the previous year due to uncertainty about the outlook.