$331 $m
For the first time in several years, furniture and interior goods retailer Nitori announced large-scale, nationwide price discounts. At the press conference, Mr. Nitori suggested that deflation is no bad thing for consumers in a country where salaries are declining and products are still more expensive than in the U.S. His stance highlights several of the key factors in the brand’s ongoing success. Despite a severe retail environment, operating income has more than doubled in the last five years. The company shows a relentless focus on providing customer value, driven by a vision that people everywhere should be able to enjoy a lifestyle as affluent as in the U.S., and a willingness to take fast, decisive action. The company’s track record so far has been impressive but staying ahead of competitors and consumers will require constant vigilance.