Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting to read:%0A%0A {0} %0A%0A {1}

Prime Retail Markets Across Japan

This year’s “Prime Retail Markets Across Japan” report reveals changes in retailers’ main street strategy as they respond to changing millennial behaviors and the increased volume of inbound tourists. Some of the key takeaways featured within the report include:

1. Ginza is poised for transformation – from “tourist destination” to “tourist hub.” Ongoing hotel developments and mixed use projects are fueling this transformation, uniting retailers and boutique and luxury hotels along the high streets. The vision is for tourists to stay and use Ginza as a base for their trips.

 2. Shinjuku’s prime retail rents rose 14.8% annually, due to continued demand from retailers opening new stores. Shinjuku is now the second most expensive prime retail area after Ginza. 

3. Community is the key for millennials. In response to this trend, more retailers are trying to create communities around their business, focusing on customer experiences and interactions that millennials will respond to. 

4. Retailers are extending their short-term pop-up store strategy – in addition to permanent locations – partially because of soaring rent but also to boost sales and maintain relevance. 

5. Increasing numbers of inbound tourists are shifting their tastes from luxury goods to mass merchandise items. Their destinations extend beyond airport duty-free stores to include drugstores and convenience stores on main street. 

6. Retailers are starting to participate in community-oriented hotel concepts. The expected growth of hotel supply is making brand differentiation key, with art and comfort starting to assuming the same importance as price points. This matches with the interests of domestic apparel companies who are focusing on building communities, creating many potential collaborations between hotel developers and retailers.

RElated Insights

main streets across the world 2023

Main Streets Across the World 2023

In this 33rd edition of Main Streets Across the World, we’ll explore the near-term outlook for the retail sector; headline rent and ranking changes for best-in-class urban locations across the world; key indicators and global main street rankings; and key trends to watch such as the cost-of-living crunch, e-commerce and more.
Dominic Brown • 21/11/2023
Reworking the office
Research • Workplace

REWORKING the Office Asia Pacific

Our ‘REWORKING’ series examines decision-making for occupiers under four key considerations: Cost, Carbon, Culture and Community – under which the changing demands, needs and impacts on office spaces and strategies can be examined.
Yasushi Otomo • 03/11/2023

Related Stories

Cushman and Wakefieled
Learn More
With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Privacy & Cookies.
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All