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| 100 yen shops give you more than your money's worth |
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| Written by magurochan | |
| Monday, 26 September 2005 | |
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While the collapse of the economic "bubble" of the early 1990s led to many business failures, it also created new opportunities. Soon, commercial space vacated by bankrupt tenants began filling up with so-called "100 yen shops," selling a wide variety of goods at a set price -- Japan's equivalent of the "dollar shops" now popular in America. When all those 100-yen coins customers spend are put together, notes Dime (10/6), they make for a pretty penny indeed. Total annual revenues are currently estimated at around 500 billion yen, and analysts are projecting twice that figure, 1 trillion yen, in another four to five years' time. One of the nation's fastest growing chains is Kodaira City, Tokyo-based "Shop 99." Founded in 2000, it has expanded rapidly in Honshu's three major urban areas, with 680 outlets presently under operation -- and 3,000 targeted by 2010. The stores, many of which operate on a 24-hour basis, boast some 4,500 items, including fresh produce. What's happening? The key word, reports Dime, is diversification. Round-the-clock hour operations have become par for the course, and growing numbers of outlets offer items of fresh produce at prices lower than supermarkets. And still others have appeared, offering services and even leisure activities. |
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