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Lumine Shinjuku Ranks as The Most Visited Store in Tokyo Area for Second Year in a Row Census of Stores: Large-scale Survey of 60,000 Respondents Nikkei Research Inc. released the data from the “Census of Stores” which surveyed 60,000 consumers about their usage of stores in the Tokyo area. The survey design was renewed in 2022. This time, the survey was conducted in September 2023, covering 265 places (including large outlets) in Tokyo and 3 other neighboring prefectures. Top 10 Stores First, let’s look at the ranking of the most visited (within the past 3 months) stores. Although slight difference in the orders, the top five stores are unchanged from last year. Lumine Shinjuku secured its No.1 position again. The 2nd was Seibu Ikebukuro and the 3rd was Shibuya Hikarie, both moving one rank up from last year. Isetan Shinjuku and Lumine Est Shinjuku followed respectively. Top 10 Most Visited Stores in the Greater Tokyo Area Fall 2023Fall 2022RankAreaStore NameRank 1 ShinjukuLumine Shinjuku 2 IkebukuroSeibu Ikebukuro 3 ShibuyaShibuya Hikarie 4 ShinjukuIsetan Shinjuku 5 ShinjukuLumine Est Shinjuku 6 TokyoStation/MarunouchiGRANSTATokyo 7 Ginza/Yurakucho/HibiyaGinza Mitsukoshi 8 IkebukuroIkebukuro Sunshine City (ALTA, alpa) 9 IkebukuroTobu Department Store Ikebukuro 10 YokohamaSOGO Yokohama Stores in the rankings were similar to last year’s, where 9 stores were chosen again in the top 10 list. Daimaru Tokyo dropped to No.11 from the 8th in last year, missing the top 10 list. However, it still managed to hold its relatively high-ranking position. In the top 10 ranking, shopping centers and department stores split the share by five each, the same as last year. Many department stores in the greater Tokyo area are expecting renovations or redevelopments, and entering the transitional phase. The key to success may be whether department stores can maintain or boost the number of visitors by successfully leveraging the current favorable environment such as getting back to the pre-COVID state, an increase of inbound tourists, and the weak yen. Stores in the Shinjuku area Three stores from the Shinjuku area made it into the top 5 ranking, indicating that this area is one of the most attractive places in Tokyo. We analyzed the visitors’ profiles of stores in the Shinjuku area. A significant share of females in their 20s and under use Lumine Shinjuku, Lumine Est Shinjuku, NEWoMan Shinjuku, and Shinjuku MYLORD. The reason for this can be said that there are many shops for young girl’s fashion inside these places. On the other hand, many 50s, both male and female, use Keio Department Store Shinjuku, Takashimaya Shinjuku Store, and Odakyu Department Store Shinjuku (Shinjuku Station West Exit HALC). This is likely to be caused by these places having many shops such as men’s and women’s clothes, jewelry, and high-end luxury brands.

The 12 Corporate Brand Types Cross-value analysis across the brand image/attractiveness and experience Many companies struggle after they have (even successfully) run a brand study. Goals and KPIs of a brand value are not easy to set, as they are broad and not all quantifiable or sometimes not even identifiable but more human, emotional, contextual, and subjective. Put aside that, setting a target role model company might be a simple way to aim the direction and set KPIs. But, what kind of target company should a brand set as their goals or benchmark to compare themselves? Nikkei Research analyzed, formulated, and categorized 600 notable corporate brands in Japan from its proprietary corporate brand survey data. With that corporate brand classification, we get to know the brand's position, level of strength, and characteristics over the brand image and experiences that it provides. Comparing across industries is also possible. For the classification, we separated the variables into two, (i) the brand image/attractiveness and (ii) the experience value. While it is not just a classification by brand image, we included experience value because, from a corporate perspective, businesses are becoming more of a service rather than just providing some product. Having people feel the brand value during their usage/experience is becoming much more important nowadays. Moreover, for consumers, the amount of information exchanged is becoming highly active, and the contents are mostly based on experiences over the actual usage. The value of the corporate brand is not formed by just communication or promotion by that company. Rather, it is amplified among the consumers, and the value is co-created. The structure undermines this situation, incorporating the experience value into the formula. In a nutshell, the brand image/attractiveness is how the company is viewed, whereas the experience value is what kind of benefits the brand is providing. With the combination of these two aspects, we can derive corporate brand personas. For the brand image/attractiveness, we used statistical methods to group the items that are close together and created four major brand t ypes. ・Creating unique businesses ・Focused on quality ・Up-close, physically & psychologically ・Leader with excellent management The experience value is grouped with close items as well, into three main brand types. (a) Support one’s self-actualization (b) Make every day feel comfortable (c) Widening perspectives/continuous relation With the combination of four characteristics by the brand image/attractiveness and three characteristics by the experience value, we get the 12 corporate brand types. ・Stimulate Creativity ・Luxury Quality ・Delight & Popular ・Awe-inspiring Trailblazers ・Unique & Secure ・Trusted Quality ・Comfortable Partner ・Comfort Champions ・Knowledge Co-Creation ・Trust Co-Creation ・Prevalent Support ・Visionary Leaders https://lnkd.in/gZVr75eV

The Latest Trends in Compliance of Medical Sales Representatives 14% ignore the rule, survey finds Compliance Challenges in the Healthcare Industry The healthcare industry has vast regulations and requirements even across departments or job functions within a company. There are three types of rules, (1) eliminating quality fraud in pharmaceutical manufacturing based on law and ensuring strict safety management, (2) advertising regulations related to sales information provision activities following laws or industry standards and company standards, and (3) regulations over healthcare professionals to receive benefits for fair competition. These are intertwined with legal and voluntary restrictions. When we overview and organize these industry-specific challenges and general compliance risks, there will be two risk types, those that are visible and those that are hidden, organizational cultures that are the cause of risks. Visualizing these two, visible risks and the organizational culture that creates risks, and detecting the problem should be the first step toward risk management. Differences between sales representatives and physicians (from our survey findings) In July, Nikkei Research conducted two surveys: (a) compliance awareness among pharmaceutical company employees, and (b) pharmaceutical companies' response to compliance from physicians’ perspectives. First, we will look at the rate of implementation of training programs. The figure is narrowed down specifically to MRs (Medical Representatives) and reflects the implementation rates of general training related to harassment or security. Comparing pioneer manufacturers and generic manufacturers, there was a difference in implementation rates over regular training. Nonetheless, even if not regularly practiced, but carried out upon necessity, it is rather better, however, it turns out that companies other than regularly holding training did nothing. Let's compare between Japanese domestic and foreign companies. Since there are more domestic companies among the generic manufacturers, foreign firms have a higher implementation rate. How about training related to guidelines and rules ranging from sales information provision activity guidelines to fair competition rules, which directly involve the activities of MRs? Including the sales information provision activity guidelines by the Ministry of Health, Labour and Welfare of Japan (MHLW), the implementation rate of generic manufacturers was about half across all. The JPMA (Japan Pharmaceutical Manufacturers Association) code, due to factors such as membership, needs certain cautions in reading the result, but there was a tendency that the company's own rule has a slightly higher implementation rate. https://lnkd.in/gpC8diMt

Yamato Transport Ranks No.1 After 7 Years, Nikkei Research Brand Strategy Survey 2023 Transport and Railway Companies Highly Supported with the Full Recovery of Economic and Social Activities On September 26th, Nikkei Research Inc. released the 2023 edition of its Brand Strategy Survey, which measures and analyzes the brand strength of 600 major companies in Japan. In this year's overall ranking, Yamato Transport has achieved the top position after 7 years, induced by large support from business professionals. With the reclassification of COVID-19 in Japan, restrictions on the movement of people and goods were relaxed, and companies within the transport and railway sectors have gained much support. Their efforts to address the challenges of the “2024 problem” in logistics (concerns over transport capacity shortage triggered by the adoption of a 960 work-hour limit regulation on truck drivers) are also receiving significant attention. Among other top companies, Sony Group, Apple Japan, Google, and Microsoft Japan have shown solid strength. Companies thriving to establish new business domains were seen among the top list: Sony Group focusing on gaming to expand its contents, Apple Japan throwing out the Apple Vision Pro and its innovative approach in fintech, Google and Microsoft Japan leveraging cutting-edge technology such as generative AI. Food companies are also ranked high, such as Ajinomoto and Meiji, that provide easily accessible and delicious products. People's lifestyles have diversified and the preference for "time-saving" is also seen in food products. Companies that receive support are those who are recognized for offering products that can be prepared quickly without hassle. Starting this year, a new indicator, "social goodness of businesses," has been adopted to measure corporate brand strength. This indicator questions whether "the company, product, or service contributes to making a better society for our future" and reflects the expectations of each company's purpose. For companies today, showing their commitment to target both their business growth and the community’s growth, with considering across broad stakeholders, is a big challenge. Responding to the demands in this sustainability- era, this indicator will help corporate branding activities as a KPI. Methodology The Brand Strategy Survey is an annual online survey that evaluates the corporate brand power by two segments; consumers (BtoC) and business professionals (BtoB). Starting from 2003, this year marks the 21st time, conducted from June to July. The Brand Perception Quotient (PQ), resembling the brand strength, is calculated based on five elements: “Empathy (“Attractiveness” for BtoB),” “Necessity (“Usefulness in Business” for BtoB),” “Premium (Premium over Brand and Price),” “Uniqueness,” and “Willingness to Recommend. https://lnkd.in/gymbHF7G