March 21, 2017 5:40 am JST

Japanese department store Matsuya to open Chinese online shop

Retailer hopes direct sales will help generate repeat customers

TOKYO -- Upscale Japanese retailer Matsuya will open on Tuesday an online store for China, hoping to make repeat customers of Chinese who have shopped at its Ginza location in Tokyo.

The department store operator will partner with Chinese businesses having know-how about the local e-commerce sector. Until now, Matsuya's only e-commerce presence in China had been on platforms such as online malls.

With help from its partners, the company's own retail site will be able to carefully tailor its lineup to local demand. Products will be shipped from Japan. Matsuya will also increase advertising and promotions in China.

E-commerce sales from Japan to China are forecast to reach 2.3 trillion yen ($20.4 billion) by 2019, according to Japan's trade ministry. While the so-called "explosive buying" by Chinese tourists has petered out, inbound tourists still contribute a fifth of Matsuya's sales. Matsuya hopes its e-commerce customers will also visit the Ginza store, its main earner.

(Nikkei)

Matsuya Co., Ltd.

Japan

Market(Ticker): TKS(8237)
Sector:
Industry:
Retail Trade
Department Stores
Market cap(USD): 506.69M
Shares: 53.28M

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