Convenience Store Sales Growth in Japan
Lawson Inc. and FamilyMart have reported sales growth in the March-August period, according to their recent earnings reports.
The average daily sales at all Lawson stores reached 600,000 yen for the first time, driven by growing sales of private label products. This contributed to record-high sales and profits for the company, partly due to the adoption of artificial intelligence for product ordering.
- Lawson's sales growth was fueled by a campaign increasing the volume of private label products.
- FamilyMart saw strong sales of onigiri rice balls after featuring MLB star Shohei Ohtani in advertisements.
Consumers are thrifty amid rising prices, and the campaign attracted customers.
However, FamilyMart's net profit dropped about 30% due to the absence of profit from streamlining its Chinese operations.
Author's summary: Japanese convenience stores see sales growth.