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Walmart Seeks Ways To Turn Around Japan Operations

May 23, 2016: 12:00 AM EST
Walmart is working for a turnaround for its Seiyu retail brand in Japan. Seeking to disprove rumors that it plans to exit the market, Seiyu announced plans to renovate and redesign its stores in the country. Struggling to compete with local rivals, such as Aeon and Seven & I Holdings, the company said it plans to open new stores after closing almost 100 locations since 2014. According to Cormorant Group partner and strategist Barry Lustig, Walmart's problems in Japan are partly due to its over expansion. Also, a weak yen and an increase in national sales tax have also hurt the retailer's revenue performance. BBDO Japan managing director Hal Ito said, Walmart's “low price” strategy alone will not ensure success in the local market. Walmart should keep in mind that Japanese consumers are looking for added value and for certifications by authority for premium quality or safety.
"Walmart aims for Japan turnaround", Campaign Asia, May 23, 2016, © Haymarket Media Ltd.
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