Japanese convenience store operator, Lawson Inc, is introducing a chain of shops with price tags of 100 yen (US$0.92) for most products, the Reuters news agency reports.
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Lawson, which operates some 8,000 outlets in the country, said on Monday it would open ‘Store 100’ along with its flagship “Lawson” stores and “Natural Lawson” chains that target health-conscious working women.
The new ‘Store 100’ will target married women, shoppers aged over 50 and students by offering vegetables, meat and take-out foods at lower prices than usual, a market in which the company sees growth potential. “The convenience store industry has expanded at a fast pace, but it has recently seen flat growth,” Lawson President Takeshi Niinami told a news conference.
“We want more female customers and older male customers to come to stores, and that way the market can grow further,” he said, adding that the convenience store industry still accounts for only 5.5% of Japan’s 129 trillion yen retail market.
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