Reported 7 months ago
Japan's inflation rate has exceeded the 2% target set by the Bank of Japan since April 2022, compounded by the yen reaching a 34-year low against the US dollar, increasing import inflation pressures and driving the demand for low-cost 100 yen stores. Experts estimate that the market size of 100 yen stores in 2023 has surpassed 1 trillion yen for the first time, with major players like Daiso Industries Co and Seria experiencing significant growth in sales over the past decade. Despite rising prices, the profitability of these stores is being eroded due to increased import costs caused by the yen depreciation, leading to some stores unable to maintain a 100 yen price point and introducing '300 yen stores' as a result.
Source: YAHOO