Defensive Consumer Behavior amid Rising Prices for Essentials and Higher Household Burdens
First written in FY2017-Q1. 9 of 20 entries say "Restated". Latest entry: FY2027-H1.
Life moved to the "Worse" side of this theme in 2021, 1 year after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 52 of 68 companies on the "Worse" side.
10 other companies' latest entry also says "Other".
- FY2027-H1Provides greater detail on price sensitivity.Annual report
「Increasing price sensitivity and the impact on consumption of continuing high prices」
Clearly states that continued inflation has heightened consumers’ price sensitivity and is affecting consumption. - FY2026-H1Consumer impact of inflation made more specificAnnual report
「Although some earnings support has been seen from improvements in the income environment and rising food prices, the operating environment remains uncertain due to the continuing impact of high prices on consumption, intensifying competition across industries and business formats, persistent labor shortages, and the resulting rise in labor and other costs.」
While recognizing the earnings boost from improvements in the income environment and rising food prices, explicitly describes the continuing impact of high prices on consumption. - FY2025-H1Provides greater detail on the consumption environment.Annual report
「Although improvements in the income environment and rising product prices are supporting earnings, the operating environment remains uncertain due to cautious personal consumption, intensifying competition across industries and business formats, and rising labor and other costs.」
Describes improvements in the income environment, while stating that personal consumption remains cautious and concerns persist regarding consumption amid rising prices. - FY2025-Q1RestatedAnnual report
「Although earnings remained firm due to rising product prices, the operating environment remains uncertain due to intensifying competition across industries and business formats and rising labor and other costs.」
Describes both firm earnings due to rising product prices and the challenging operating environment resulting from rising labor and other costs. - FY2024RestatedAnnual report
「Although growth in financial assets and rising wages are supporting consumption, the retail industry remains in difficult conditions due to high prices and increasingly severe labor shortages,」
Continues to describe the difficult environment resulting from high prices and increasingly severe labor shortages, while also noting support for consumption from growth in financial assets and wages. - FY2024-Q3WorsenedAnnual report
「Although earnings generally remained strong due to rising product prices, the operating environment remains uncertain because wage growth has not kept pace with price increases, raising concerns about weaker consumer sentiment, and because various costs, including labor, electricity and logistics costs, are rising.」
While describing strong earnings due to rising product prices, also describes concerns about weaker consumer sentiment because wage growth has not kept pace with price increases, as well as rising labor, electricity and logistics costs. - FY2024-Q1WorsenedAnnual report
「In the food supermarket industry, our group’s business domain, the operating environment remains uncertain due to intensifying competition across industries and business formats, rising procurement prices for raw materials, rising costs including water, utility and fuel expenses and labor costs, and a growing desire to economize resulting from inflation, including successive food price increases, and the associated decline in real wages.」
Specifies inflation, including successive food price increases, and the associated decline in real wages and growing desire to economize, stating that the operating environment for food supermarkets remains uncertain. - FY2023WorsenedAnnual report
「In the food supermarket industry, our group’s business domain, the operating environment is becoming increasingly challenging due to intensifying competition across industries and business formats, rising procurement prices for raw materials, rising costs including water, utility and fuel expenses and labor costs, and a growing desire to economize resulting from declining real wages.」
Newly specifies the growing desire to economize resulting from declining real wages, and describes deterioration in the demand and cost environment together with rising raw-material, water, utility, fuel and labor costs. - FY2023-Q1WorsenedAnnual report
「Demand for eating at home generated by the COVID-19 pandemic has also begun to level off」
States that demand for eating at home, which had continued to increase, has begun to level off, indicating a weakening demand environment. - FY2022-Q3SoftenedAnnual report
「With the recovery in personal income and consumer sentiment limited, online retail and food delivery are expanding, competition across industry boundaries is intensifying, and various costs, particularly labor costs, are rising, making the operating environment increasingly challenging.」
For personal income and consumer sentiment, changes the wording from “declines and other factors continue” in the previous quarter to “recovery remains limited.” However, the concern that a sufficient recovery has not been achieved continues. - FY2022-Q2RestatedAnnual report
「However, as declines in personal income and consumer sentiment continue, we believe that the food supermarket industry will inevitably be affected by these factors going forward.」
Continues to take the view that the food supermarket industry will inevitably be affected as declines in personal income and consumer sentiment continue. - FY2022-Q1WorsenedAnnual report
「However, as declines in personal income and consumer sentiment continue, we believe that the food supermarket industry will inevitably be affected by these factors going forward.」
States that declines in personal income and consumer sentiment are continuing, indicating a worsening environment related to consumers' efforts to protect their household finances and economize. - FY2020RestatedAnnual report
「The retail industry remains in difficult conditions, partly due to the impact of the consumption tax increase,」
Continues to describe the difficult conditions in the retail industry resulting from the consumption tax increase as part of the environment affecting household financial protection and restrained consumption. - FY2018-Q3RestatedAnnual report
「Meanwhile, wage growth has been centered on non-regular employment, and concerns about the future have prevented a departure from deflationary sentiment. Companies have also continued to take a cautious stance toward price increases, while consumer prices excluding energy have remained weak.」
Continues to identify wage growth centered on non-regular employment, concerns about the future, deflationary sentiment, and weak prices as concerns related to consumers' efforts to protect their household finances. - FY2018-Q1WorsenedAnnual report
「As rising prices for food and other essential goods and utility costs have made customers increasingly, and more than ever, conscious of protecting their household finances」
States that customers have become more conscious than ever of protecting their household finances against rising prices for essential goods and utility costs. - FY2017RestatedAnnual report
「While responding to consumers' persistent desire to economize」
Continues to describe consumers' desire to economize, driven by the burden of prices for essential goods, as part of the operating environment. - FY2017-Q2RestatedAnnual report
「To respond to consumers' persistent desire to economize, companies are stimulating consumption through pricing measures, including everyday low pricing (EDLP) for essential goods such as food and daily necessities, stronger sales promotions, and the introduction of value-priced private-label products, while also」
Continues to describe consumers' desire to economize on essential goods. - FY2017-Q1First statedAnnual report
「As consumers become increasingly defensive about their household finances amid successive price increases for food and other essentials and higher social security burdens」
Describes rising living costs and social security burdens as risks affecting consumer behavior.