Rapid Changes in Customer Preferences and Fashion Trends
First written in FY2016. 10 of 21 entries say "Worsened", first in FY2020-Q3. Latest entry: FY2026.
Tabaya Holdings moved to the "Worse" side of this theme in 2019, 1 year after the typical company in this theme (2018).
The whole theme swung hardest in 2019: 4 of 6 companies on the "Worse" side.
7 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「The apparel retail industry remained in a difficult business environment, with procurement costs rising amid the continued trend toward yen depreciation and chronic labour shortages. However, the industry as a whole showed signs of a gradual recovery, supported by a recovery in personal consumption against a backdrop of improving employment and income conditions and continued capture of inbound demand.」
The Company describes throughout the year an environment in which rising procurement costs and labour shortages continued, while recovery factors in personal consumption and inbound demand coexisted. - FY2026-H1WorsenedAnnual report
「The apparel retail industry faces a difficult operating environment, with expectations that wage increases will boost consumption, but also risks of weaker consumer sentiment due to higher raw-material and labour costs and persistent inflation, as well as delays in autumn demand resulting from record heat.」
Higher raw-material and labour costs, weaker consumer sentiment due to persistent inflation, and delays in demand for autumn merchandise caused by record heat were identified as risk factors surrounding customer demand and product trends. - FY2025RestatedAnnual report
「The apparel retail industry faced a challenging business environment, including a prolonged weak yen, higher raw material costs, rising labor costs and labor shortages, as well as an autumn with record-high temperatures and a winter with sharp temperature fluctuations. Nevertheless, it remained firm, supported by growing fashion demand as people had more opportunities to go out and by increased inbound consumption.」
The Company describes throughout the year a situation in which downward pressures on the demand environment from climate, foreign exchange and raw-material prices coexist with recovery factors from demand for going out and inbound demand. - FY2025-H1MitigatedAnnual report
「Although the effects of higher raw-material costs and the weaker yen continued, the apparel retail industry remained resilient, supported by solid appetite for fashion consumption and expanding inbound demand.」
Although the effects of higher raw-material costs and the weaker yen continued, the apparel retail industry remained resilient, supported by strong appetite for fashion consumption and expanding inbound demand. The downward pressure on the customer demand environment was shown to have eased compared with before. - FY2024-Q3WorsenedAnnual report
「The apparel retail industry faced a difficult operating environment, affected by higher raw-material costs, the weaker yen, prolonged late-summer heat and a mild winter, with latent concerns that rising prices could weaken consumer sentiment.」
In addition to higher raw-material costs, the weaker yen and rising prices, the effects on demand of prolonged late-summer heat and a mild winter emerged in the actual operating environment, broadening risk factors surrounding customer demand and purchasing behaviour. - FY2024-Q1RestatedAnnual report
「In the apparel retail industry, although the effects of higher raw-material costs and sharp foreign-exchange movements continued, the operating environment remained firm as demand for going out and consumer sentiment improved and inbound demand recovered.」
Although demand for going out, consumer sentiment and inbound demand showed signs of recovery, the effects of higher raw-material costs and sharp foreign-exchange movements continued, with recovery factors and downward pressures coexisting in the demand environment. - FY2023WorsenedAnnual report
「Even in the post-COVID era, changes in consumption patterns during the pandemic, including the shift to online shopping, the casualization of fashion and growing demand for personal leisure activities, have become established as part of customers' lifestyles.」
The Company viewed changes in customer preferences and consumption patterns not as temporary phenomena but as lifestyle changes that had become established in the post-COVID era, and classified them as particularly important medium- to long-term risks. - FY2022WorsenedAnnual report
「With the spread of COVID-19 continuing to have a prolonged impact, we need to build our business model on the premise that changes in consumption patterns during the pandemic, including the shift to online shopping and the casualization of fashion, will become firmly established as fundamental, long-term lifestyle changes even in the so-called post-COVID era, rather than being temporary phenomena.」
Changes in customer preferences and consumption patterns took concrete form as long-term lifestyle changes involving the shift online and the casualization of fashion, rather than as a temporary trend. - FY2022-Q3WorsenedAnnual report
「In the apparel retail industry, foot traffic recovered as restrictions under the state of emergency were lifted, and commercial facilities and physical stores were gradually returning to normal operations. However, store visits had not recovered to pre-pandemic levels, and the operating environment remained difficult.」
Although foot traffic and store operations showed signs of recovery, store visits had not returned to pre-pandemic levels, and the difficult environment surrounding customer visits and purchasing behaviour continued. - FY2021WorsenedAnnual report
「Customer preferences (needs) and fashion and market trends also tend to change rapidly over short periods. In particular, as remote work and online business became widespread due to the spread of COVID-19, customers' need for casualwear has increased, among other factors,」
The increase in demand for casualwear resulting from COVID-19 and the spread of remote work newly clarified changes in customer preferences and demand. - FY2021-Q3WorsenedAnnual report
「The apparel retail industry continues to face an extremely difficult environment, including the closure of physical stores associated with the government's state of emergency declaration, a rapid decline in inbound demand, weak consumer sentiment due to concerns about income, and fewer store visits due to the spread of behaviour to avoid crowded places and the resurgence of infections.」
The resurgence of infections, behaviour to avoid crowded places and fewer store visits were newly identified, and the difficult environment surrounding customer visits and purchasing behaviour continues. - FY2021-Q2WorsenedAnnual report
「The apparel retail industry faced an extremely difficult environment, including the closure of physical stores associated with the government's state of emergency declaration, a rapid decline in inbound demand, weak consumer sentiment due to concerns about income, and fewer store visits as behaviour to avoid crowded places became more widespread.」
In addition to physical-store closures and lower inbound demand, the Company expressly identified fewer store visits resulting from concerns about income and behaviour to avoid crowded places, broadening the risks associated with changes in customer preferences and store-visit behaviour. - FY2021-Q1WorsenedAnnual report
「The apparel retail industry faced an extremely difficult environment, including the closure of physical stores associated with the government's state of emergency restrictions, a rapid decline in inbound demand and weak consumer sentiment.」
The spread of COVID-19 simultaneously caused physical-store closures, a rapid decline in inbound demand and weak consumer sentiment, further worsening the customer demand environment. - FY2020MaterialisedAnnual report
「In the apparel retail industry, demand for businesswear expanded as more women entered the workforce and online sales grew, while consumer sentiment weakened due to unstable weather, natural disasters and the backlash following the consumption tax increase. In addition, the spread of COVID-19 reduced inbound demand, shortened business hours and led to the temporary closure of some stores, creating an extremely difficult environment.」
In addition to weather, natural disasters and the backlash following the consumption tax increase, the actual operating environment reflected reduced inbound demand due to COVID-19, shortened business hours and temporary store closures. - FY2020-Q3WorsenedAnnual report
「In the apparel retail industry, demand for businesswear expanded as more women entered the workforce, online sales grew and there was a rush of demand ahead of the consumption tax increase, while consumer sentiment weakened due to unstable weather, natural disasters, the backlash following the consumption tax increase and pension issues, and customers continued to purchase cautiously.」
In addition to the conventional factors of weather and consumer sentiment, natural disasters, the backlash following the consumption tax increase and pension issues were expressly identified as downward pressures, broadening uncertainty surrounding customer demand and purchasing behaviour. - FY2020-Q2RestatedAnnual report
「In the apparel retail industry, demand for businesswear expanded as more women entered the workforce and online sales grew, while consumer sentiment weakened due to unstable weather, the consumption tax increase from October 2019 and pension issues, and customers continued to purchase cautiously.」
The Company continues to describe weak consumer sentiment and cautious purchasing behaviour resulting from unstable weather, the consumption tax increase and other factors. Changes in customer demand and purchasing behaviour are reflected in the operating environment. - FY2019MaterialisedAnnual report
「In the apparel retail industry, tax-free demand from visitors to Japan and online sales continued to expand, while demand for autumn and winter merchandise stagnated amid record heat and a mild winter, and customers continued to show a stronger propensity to economize and cautious purchasing behaviour.」
Stagnant demand for autumn and winter merchandise due to record heat and a mild winter was described as part of the actual operating environment, showing that risks from changes in customer preferences and seasonal demand had emerged in business conditions. - FY2017-Q3RestatedAnnual report
「Although online sales performed well, sales at physical stores struggled and discount sales increased, resulting in higher revenue but lower profit.」
Coen continues to report higher revenue but lower profit due to weak physical-store sales and increased discount sales. - FY2017-Q2RestatedAnnual report
「Although online sales performed well, sales at physical stores struggled and discount sales increased, resulting in higher revenue but lower profit.」
Coen again reported higher revenue but lower profit due to weak physical-store sales and increased discount sales. - FY2017-Q1MaterialisedAnnual report
「Because the Company was slow to respond to the silhouettes, colours and other aspects of trend items, discount sales increased. As a result, revenue was roughly in line with the same period of the previous year, but profit declined.」
At consolidated subsidiary Coen, delays in responding to customer preferences and trends actually occurred, leading to increased discount sales and lower profit. - FY2016First statedAnnual report
「Customer preferences (needs) and fashion and market trends tend to change rapidly over short periods. If the Group is slow to respond to these preferences or changes in the times, or fails to respond to them, this could affect the Group's operating results.」
The risk identified is an impact on performance resulting from delays in responding to product procurement, planning and development.