Shopping mall numbers in Japan 2014-2023
The number of shopping centers in Japan remained stable within the last decade. In 2023, over three thousand establishments were in operation, out of which 34 were new openings. The physical marketplaces are commonly found in peripheral and suburban areas at the borders of densely packed commercial city centers, and house a variety of tenants like specialty retailers, food businesses, and amusement facilities.
From real estate to retail
Shopping centers in Japan are heavily tied to the domestic real estate industry, with major real estate companies developing and managing the establishments. Characterized as retail real estates with more than ten tenants, and a sales floor area of over 1,500 square meters, the majority of establishments categorized as malls in Japan were smaller compared to international standards.
Shopping malls in a digital era
The e-commerce sector has been encroaching on the physical marketplaces, with platforms like Rakuten, Amazon, and Yahoo Shopping being considered digital counterparts of shopping malls. While the preferences of Japanese consumers for physical store retail works in favor of shopping centers for the present, signified by the continuous number of new openings, retail real estate developers will need to look at new long-term strategies to make the retail concept attractive not only for consumers but for potential tenants as well.
