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Walmart, Seiyu and Rakuten take bite out of Japan food market
- Friday | 21st February, 2020
The barely year-old tie-up between the US supermarket chain’s Seiyu and local e-commerce firm Rakuten Inc clocked 30% sales growth for late October through December versus the same period a year earlier when Seiyu was going it alone, said Rakuten Seiyu NetSuper Chief Executive Tamae Takeda. Helping drive overall growth, Takeda said, was demand for time-saving solutions, particularly as an increasing proportion of mothers work. The US firm entered Japan in 2002 buying 6% of Seiyu, building up its stake before a full takeover in 2008. Last year, Walmart moved to end on-and-off speculation of an imminent exit, saying it hoped to eventually list Seiyu while retaining a majority stake. Meanwhile, growth online has prompted Seiyu’s venture to plan a second logistics centre for this year to bolster scale and efficiency – considered crucial to offset delivery costs.
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