Decline in the Apparel Market Due to Sluggish Domestic Consumption and Cost-Conscious Consumers
First written in FY2017-Q1. 8 of 20 entries say "Restated". Latest entry: FY2026.
Zozo moved to the "Worse" side of this theme in 2020, 1 year after the typical company in this theme (2019).
The whole theme swung hardest in 2025: 5 of 10 companies on the "Worse" side.
3 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「In addition to negative weather impacts on the ZOZOTOWN business during the second and third quarters, LYST fell below plan against a backdrop of weakness in the luxury industry, particularly in the European and US markets, and changes to the US tariff regime.」
The shortfall against plan in the ZOZOTOWN business due to weather impacts was recorded as an actual result. External-environment demand risks have materialized as an actual variance from plan. - FY2026-H1WorsenedAnnual report
「During the interim period, Japan's domestic fashion market showed some resilience against a backdrop of improving employment and income conditions, but faces the risk of weaker consumer appetite due to persistent price increases and climate change. In addition, the global economy has become increasingly uncertain due to geopolitical risks and foreign-exchange fluctuations, leaving the outlook uncertain.」
In addition to the previous risks of stagnant consumption and higher prices, the Company explicitly identified weaker consumer appetite due to climate change, expanding the demand risks disclosed for the domestic market. - FY2025-H1MitigatedAnnual report
「Despite continued price increases, wage growth and inbound consumption, particularly offline consumption, supported domestic demand, and appetite for fashion-related consumption remained solid.」
The Company states that, despite continued price increases, wage growth and inbound consumption supported domestic demand, and appetite for fashion-related consumption remained solid. - FY2024-Q3MaterialisedAnnual report
「On the other hand, the business was also affected by unusual weather conditions, including a prolonged period of late-summer heat and the many warm days after the start of the full autumn/winter season.」
The Company states that a prolonged late-summer heat and a warm winter actually occurred as business conditions and affected the sales mix of autumn/winter products and high-priced outerwear. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter, prices continued to rise due to higher resource and raw material prices and the yen's depreciation, leaving the economic outlook uncertain. At the same time, the apparel industry, particularly the offline market, experienced buoyant conditions as easing restrictions on activities increased opportunities to go out and demand for clothing.」
The Company continues to describe buoyant conditions in the apparel industry as demand for outings and clothing increased following the easing of restrictions on activities, despite the persistence of external factors such as higher prices. - FY2023-Q1MitigatedAnnual report
「During the cumulative first quarter, the apparel industry, particularly the offline market, experienced buoyant conditions as the easing of the spread of COVID-19 increased opportunities to go out and demand for clothing.」
The Company states that the previous stagnation in domestic consumption and challenging apparel market conditions eased as the spread of COVID-19 subsided and demand for outings and clothing increased. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter, the spread of COVID-19 continued from the start of the period, as in the previous fiscal year, and the apparel industry faced challenging market conditions, including the suspension of operations at some brands' physical stores.」
The Company states that challenging apparel market conditions, accompanied by the spread of COVID-19 and the suspension of operations at physical stores, continue. - FY2022-Q1MaterialisedAnnual report
「During the cumulative first quarter, the spread of COVID-19 continued from the start of the period, as in the previous fiscal year, and the apparel industry faced challenging market conditions, including the suspension of operations at some brands' physical stores.」
The suspension of operations at physical stores and challenging apparel market conditions associated with the spread of COVID-19 continued. The Company states that its gross merchandise value increased due to the impact of the shift to digital. - FY2021MaterialisedAnnual report
「During the fiscal year, the spread of COVID-19 continued from the start of the period and a new lifestyle gradually became established, while market conditions remained challenging for the apparel industry.」
Challenging apparel market conditions associated with the spread of COVID-19 continued throughout the fiscal year. The Company states that the positive impact of the shift to digital on gross merchandise value continued. - FY2021-Q1MaterialisedAnnual report
「During the cumulative first quarter, the apparel industry faced extremely challenging market conditions, including the suspension of operations at brands' physical stores due to the spread of COVID-19.」
The suspension of operations at physical stores and challenging apparel market conditions caused by the spread of COVID-19 actually occurred. The Company states that the positive impact of ZOZOTOWN's sales capabilities and the shift to digital offset the negative impact. - FY2020MaterialisedAnnual report
「During the third quarter, sales of high-priced seasonal products remained sluggish due to weak consumption following the consumption tax increase, unseasonable weather including the landfall of a major typhoon, and the effects of an unusually warm winter.」
The effects of thrift-oriented behavior following the consumption tax increase, typhoons and unseasonable weather, and a warm winter on seasonal product sales actually occurred, and gross merchandise value fell below the initial plan. - FY2020-Q2RestatedAnnual report
「During the cumulative second-quarter consolidated period, there were no significant changes in the matters described in the quarterly report concerning business conditions and financial information that could materially affect investors’ decisions, or in the business risks described in the securities report for the previous fiscal year.」
The Company states that there have been no material changes in the risk of a decline in the apparel market due to stagnant domestic consumption and increased thriftiness. - FY2019-Q1RestatedAnnual report
「During the cumulative first-quarter consolidated period, there were no material changes in matters described in this quarterly report concerning the status of the business, financial information and other matters that could materially affect investors' decisions, or in the business and other risks described in the annual securities report for the previous fiscal year.」
The Company states that there have been no material changes in the risk of a decline in the apparel market due to stagnant domestic consumption and increased thriftiness. - FY2018-Q2RestatedAnnual report
「During the cumulative second quarter, sales in Japan's domestic apparel and accessories market remained roughly at the previous year's level due to stagnant domestic consumption, although late-summer and autumn/winter apparel performed steadily because temperatures fell earlier than usual.」
Although late-summer and autumn/winter products performed steadily, sales in Japan's domestic apparel and accessories market remained roughly at the previous year's level due to stagnant domestic consumption. - FY2018-Q1RestatedAnnual report
「During the cumulative first quarter, Japan's domestic apparel and accessories market was on a gradual downward trend amid stagnant domestic consumption. Although employment and income conditions continued to improve, this was considered to have failed to translate into personal consumption.」
The downward trend in Japan's domestic apparel and accessories market and the failure of improving employment and income conditions to translate into personal consumption continue to be disclosed. - FY2017-Q3RestatedAnnual report
「During the cumulative third quarter, Japan's domestic apparel and accessories market was on a gradual downward trend amid stagnant domestic consumption. Although employment and income conditions continued to improve, the outlook for the global economy and Japanese financial markets remained uncertain, preventing improvement in economic sentiment and consumer confidence, while personal consumption remained sluggish.」
The downward trend in Japan's domestic apparel and accessories market, stagnant consumer sentiment and sluggish personal consumption continue to be disclosed as external factors. - FY2017-Q2RestatedAnnual report
「During the cumulative second quarter, Japan's domestic apparel and accessories market was on a gradual downward trend amid stagnant domestic consumption. Although employment and income conditions continued to improve, the outlook for the global economy and Japanese financial markets remained uncertain, preventing improvement in economic sentiment and consumer confidence, while personal consumption remained sluggish.」
The external environment, including the downward trend in Japan's domestic apparel and accessories market, stagnant consumer sentiment and thrift-oriented consumer behavior, continues to be disclosed. - FY2017-Q1First statedAnnual report
「During the cumulative first quarter, Japan's domestic apparel and accessories market was on a gradual downward trend amid stagnant domestic consumption. Although employment and income conditions continued to improve, consumer sentiment improved only modestly against a backdrop of uncertainty about the outlook for the global economy and Japanese financial markets, as well as the spread of thrift-oriented consumer behavior.」
The downward trend in Japan's domestic apparel and accessories market, together with stagnant consumption, uncertainty in financial markets and thrift-oriented consumer behavior, was recorded as an external-environment risk for the first time.