Retailer Aeon is looking to increase its discount store network to target Japanese consumers looking to cut back on spending during the current economic crisis.
The Japanese group will open 10 new discount outlets each year and convert existing, struggling supermarkets to discount stores, according to reports in the Nikkei Business Daily.
Prices at the stores are set to be positioned 20 per cent-30 per cent lower than at rival retailers such as Seven & I Holdings, which is also expanding its discount store portfolio.
Aeon, which operates the Jusco store chain, currently operates around 1,300 supermarkets in Japan, excluding those operated by units such as Daiei and Maruetsu.
