Everyone is familiar with the name of AEON, it is also commonly known as JUSCO as well here in Malaysia. Being the largest retailer in Asia, the company also manages other forms of businesses such as convenience stores, supermarkets, shopping malls in addition to specialty stores.
Diving a bit into the history behind the corporation, AEON Co. Ltd. or better known as Ion Kabushiki Gaisha in Japanese was founded by Okada Sozaemon in 1758. AEON begin to expand their venture further beyond the horizons of the supermarket sector in the 1980s, spawning retail outlets such as Nishiki which is a store that specifies in selling kimonos in order to cater to the Japanese consumers' needs.
AEON then later decided to open its first overseas store here in Malaysia in 1985 through JUSCO, this is considered as a significant event as it is the first time a Japanese company had entered the Malaysian retail industry. There are currently 62 AEON retail stores as well as shopping centers that are currently in operation in Malaysia.
Let us further explore why AEON's marketing strategy works. AEON has shown that they do take the consumers' needs into consideration when planning and looks for solutions that suit the current situation.
AEON caters to what consumers need, especially daily necessities. With consumers' needs in mind, AEON has stores that are tailored specifically for clothing and accessories, not to mention pharmacies and drug stores as well.
Customers love to shop with AEON, this is due to the strategic locations of the store. Locations are important as this affects the sales, the more people there are in the area then the more likely they will shop and especially even more so if they are the only mall or retail store within the vicinity.
Convenience is of the utmost importance when it comes to customers. More often than not, it is always located in cities and near residential areas so it is easier for customers to buy without going too far from their homes.
Like every other businesses, AEON is also competing with other rivals in the same industry. AEON must also make use of the advantages it possesses to get ahead of other companies, by promoting brand awareness and making offers and promotions, customers are more likely to continue to shop and even more so if there is a loyalty program for customers so that they can redeem items or other forms of services that are provided.
By developing solutions, AEON will be able to stay one step ahead. Using the latest technology to assist with production and developing brand recognition, customers will continue to flock to AEON.
Every company has its own policies, the very same applies to AEON as well. AEON bases its businesses with customers in mind and creates a future community with this philosophy in mind.
Malls are developed according to Japanese values, contributing to better community growth by putting customers first and foremost. AEON's vison is Life Design which encompasses process of designing future that extends to not just shopping but as well as beyond providing the functions of traditional commercial facilities.
Dare to Take Risk
As it is with making life choices, taking risks in businesses is essential in order to move forward. As a corporation, AEON is no stranger to taking a gamble to make sure that they stay on top of the industry.
By offering lower prices, the customers will of course flock to AEON. However, there is a chance that the company might go into bankruptcy if they are not able to hit the target sales within the required amount of time and this is the risk that AEON must take.