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Why tourists and big city flagships are key to Takashimaya’s recovery

Source: Bigstock
Japan’s Ministry of Economy, Trade and Industry said there were 210 department stores in Japan at the end of 2019 but attrition in the ensuing three years reduced that number to just 192 by the end of 2022. In January, several more departed: Takashimaya closed its unit in Tachikawa, in Western Tokyo, which had poor growth prospects and in the last year was contributing barely more than 1 per cent of Takashimaya’s sales in Japan. (Only the Omiya store in Saitama contributed less.) Also in Jan