Walmart.

沃爾瑪

The company brought in more than $500 billion in revenue in 2018

2018 年，沃爾瑪賺進逾 5000 億的營收

with Americans accounting for more than three quarters those sales.

超過美國四分之三的銷售額

And a study found that in 2016, nearly every US consumer shopped at a Walmart at some point that year including online sales.

有項研究指出，2016 年時，幾乎每位美國的消費者都曾在沃爾瑪消費過，包含網路購物

But even though Walmart has comfortably held its number-one spot in the US for years.

然而，即便沃爾瑪長年穩居美國第一

In Japan, well, not so much.

在日本則並非如此

Walmart made headlines in July of 2018

2018 年 7 月，關於沃爾瑪的頭條新聞

when media outlet Nikkei Asian Review reported that the company was looking to sell its Japanese subsidiaries Seiyu.

見於日經亞洲評論的報導，指出沃爾瑪欲變賣日本子公司「西友」

Seiyu is a chain of supermarkets and hypermarkets in Japan which sell a mix of consumables and general merchandise.

西友是日本的連鎖超市與量販店，其販售消耗品與百貨

Like US Walmart locations, Seiyu uses the everyday low-cost business plan.

就像美國沃爾瑪的賣場， 西友推出「每日最低價」的經營模式

The Nikkei articles cited anonymous sources familiar with the matter

日經亞洲評論的報導引用熟知內情的匿名資料

with other media outlets like Reuters and the Japan Times picking up the scoop.

他家媒體像是路透社、日本時報也報導此事

The Nikkei article said Seiyu faced difficulties due to the crowded food retail scene

日經亞洲評論指出，因食品零售市場競爭激烈，所以西友面臨危機

as convenience stores, drugstores and online marketplaces create intense competition.

便利商店、藥妝店、網路商城都造成激烈競爭

Walmart told CNBC it is not in any discussions with prospective buyers to sell Seiyu and will continue doing business in Japan.

沃爾瑪告訴 CNBC (消費者新聞與商業頻道)，表示不會討論變賣西友的問題，在日本的經營將維持不變

But analysts who cite the company's lack of understanding of the Japanese culture say the company's time in the country could be limited.

可是，分析師根據公司對日本文化的貧乏知識，認為其在日本生存的時間有限

A lot of retailers struggle with internationalization especially with food.

許多零售業者遇到國際化瓶頸，尤其與食物相關

Food is so regional, it's so crucial to people's cultures but if you go in and you don't really understand the consumer

食物是區域性的，和文化息息相關，因此若是不了解消費者需求，而一頭熱地投資

and how you're gonna stand out in that sea of competition is very, very difficult to make a dent.

這樣要如何在競爭之中立足？發展會變得窒礙難行

Walmart first got its start in Japan in 2002 when it purchased a minority stake of Seiyu.

沃爾瑪於 2002 年開始踏足日本市場，其購買了一小部分的西友股份

Walmart invested more than a billion dollars in Japanese operations before the company made Seiyu a fully owned subsidiary in 2008.

2008 年，將西友完全變成子公司之前，沃爾瑪對其投入逾 10 億元的資金

But Seiyu was struggling even before Walmart took total control.

但在沃爾瑪接手之前，西友的財政狀況便已堪憂

In 2007, Seiyu saw a net loss of about $195 million.

2007 年，西友的淨損失約 19.5 億

Now fast-forward to today.

現在快轉到今日

Walmart doesn't report its international businesses' individual earnings or losses in the companies' annual report.

沃爾瑪沒有在公司年度報告中，提到國際企業個別的盈虧狀況

But we do know that there are less Seiyu units in 2018 than there were when Walmart first took full control.

不過，可以確定的是，2018 年時，西友的分店比沃爾瑪剛接管時少了

Walmart has closed more than a hundred Seiyu units since 2014.

沃爾瑪從 2014 年開始，接連關閉逾一百家的分店

So why is Seiyu struggling to capture the Japanese market?

所以，西友為何難以迎合日本市場？

Some analysts tell us it's because Walmart failed to grasp the preferences of the Japanese consumer.

分析師表示，這是因為沃爾瑪不了解日本消費者的喜好

Japanese consumers like to buy fresh, locally sourced foods which Seiyu didn't offer.

日本消費者偏好新鮮、產地直輸的食品，而這些西友並未販售

And the everyday low price strategy that has made Walmart so popular with American shoppers

使沃爾瑪受到美國顧客歡迎的「每日最低價」策略

just confuse Japanese consumers who like to seek out specific deals and sales.

只能迷惑喜愛折扣商品和活動的日本消費者

Price is really important to them and in fact they enjoy the sort of treasure hunt of prices.

對他們來說，價格很重要，且實際上也很享受這類「價格尋寶」的行為

Supermarkets will distribute flyers everyday, coupons and oftentimes Japanese consumers will go to multiple stores

超市每天會分發傳單、折價券，而日本消費者也時常到各家商店比價

in order to take advantage of those daily sales.

以取得最佳折扣

Walmart's misunderstanding of Japanese preferences isn't the only reason Seiyu is stumbling in Japan though.

然而，沃爾瑪對日本人偏好的誤解，不是西友在日本發展困難的唯一原因

The local retail landscape which is rife with different shopping methods, is giving Seiyu a run for its money

當地多樣化形式的零售市場對西友造成威脅

All of that competition only gives Seiyu 12% market share in Japan.

分配之下，西友僅佔日本市場佔有率的 12%

Trailing behind companies like Japan based Aeon which has 45% of the market share and Japan's Ito Yokado which has 14%

其他包含：日本永旺集團的 45%、日本伊藤洋華堂的 14%

according to data from Euromonitor International.

資料來自國際市調公司《歐睿國際》

Say you can't seem to catch local consumers attention.

假設是因為沃爾瑪似乎無法吸引消費者的目光

However, the struggles faced by international brands in the Japanese market aren't exclusive to Walmart.

可是，在日本市場遇到瓶頸的國際品牌，不僅只有沃爾瑪

In 2012, the UK's biggest retailer, Tesco bailed out of Japan after nine years

2012 年時，英國最大的零售業者：特易購在九年的營運後，退出日本市場

when it sold its 117 outlets to Japan's AEON, which leads the country in market share

將 117 家分店賣給日本永旺集團，使其在市場佔有率達到全國第一

and France's Carrefour sold its 8 outlets to AEON in 2005.

法國的家樂福也在 2008 年時，將其 8 家分店賣給永旺集團

But there is one international food retailer still rearing its head in Japan and that's American wholesaler Costco.

惟有一家國際食品零售商仍在日本市場佔有一席之地，即美國批發商好市多

Though Costco only has 26 units in Japan, the company has managed to capture the Japanese market since it entered in 1999.

即使好市多在美國只有 26 家分店，但自從 1999 年進軍日本以來，就擄獲日本民眾的心

With only 1/10 of the number of stores to Seiyu,

雖然分店數量只有西友的十分之一

Costco recorded revenues that were close to half of what Seiyu made in 2017.

好市多的營收高達西友 2017 年營利的一半

Grant said Costco is so successful because it did what Seiyu didn't: create an experience.

Grant 指出，好市多如此成功的原因在於：它為顧客提供體驗，而西友沒有

Japanese consumers don't like to buy in bulk, however that didn't hurt Costco; it actually helped it.

日本消費者不喜歡大份量購買，但是這無傷大雅，反而成為好市多的助力

That's because Costco is so different from the rest of Japanese supermarkets that consumers actually choose to shop there

正是因為好市多不同於其他日本超市，所以前來購物的顧客

just to get a different shopping experience.

只為求得不同的購物體驗

Seiyu didn't do that; it was pretty much just another supermarket. And if Walmart does decide to exit Japan,

西友並非如此，它和其他超市相差無幾，所以如果沃爾瑪決定抽離日本市場

it wouldn't be the first venture the company pulled away from in recent months.

此舉不會是近幾個月來的第一次冒險行動

Just a month before Nikkei reported that Walmart was looking to sell Seiyu,

日經亞洲評論報導沃爾瑪準備變賣西友的一個月前

Walmart announced that it sold an 80% stake of its operations in Brazil to private equity firm Advent International.

沃爾瑪才宣告向私募股權投資公司 Advent International，售出其巴西分公司 80% 的股份

Walmart said it withdrew from Brazil because it was a lower growth market.

沃爾瑪表示，因為巴西是低成長的市場，所以決定抽離

The company also said Brazil's recession combined with operational issues made it difficult for it to expand there.

公司也認為，巴西不僅經濟衰退，還有營運問題，造成沃爾瑪難以再繼續擴展

So Japan isn't the only market giving Walmart trouble. But don't abandon all hope when it comes to Walmart's business in Japan.

所以日本並非唯一造成沃爾瑪麻煩的市場。然而，不要對沃爾瑪在日本的企業失去希望

Analysts say there's a way the company can gain popularity there.

分析師表示，還有一種被大眾所接受的方法

In January, Walmart and Japanese e-commerce platform Rakuten announced that they would be launching an online delivery service in Japan,

一月時，沃爾瑪和日本電子商務平台《樂天》宣布將在日本地區，推出線上快遞服務

using Rakuten's online platform and Seiyu's merchandise, which could attract Japanese consumers.

結合樂天的線上平台，以及西友的商品，希望藉此吸引日本消費者的注意

So, Walmart may just be able to turn its luck in Japan.

因此，沃爾瑪可能就此改變在日本市場的命運

With the company placing a focus on online retail with the Rakuten deal, it plays right into Japanese consumers' preferences,

與樂天合作，把定位集中在網路零售，這樣的手法正符合日本消費者的喜好

but if its online delivery service plan doesn't gain enough traction, this could mean the end of Walmart in Japan.

不過，若是線上快遞服務沒有足夠的吸引力，沃爾瑪可能就要向日本市場說再見