The Japan Fashion Ecommerce Market is estimated to be valued at US$ 56.03 Bn in 2023 and is expected to exhibit a CAGR of 12.5% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The fashion ecommerce market in Japan has been growing rapidly with increasing online shopping for apparel, footwear, accessories and other fashion items. The COVID-19 pandemic further accelerated this growth by pushing more consumers to shop fashion products from the comfort of their homes on digital platforms.
Market Dynamics:
The market is witnessing steady growth due to two main drivers-
Firstly, the widespread penetration of smartphones and internet across Japan has enabled easy access to fashion ecommerce websites and apps for urban consumers. Over 165 million smartphones are in use in the country currently, driving significant traffic to digital fashion retailers.
Secondly, major Japanese retailers have substantially increased their investment in strengthening omnichannel capabilities in recent years. This has allowed customers to browse products online and pick them up from brick-and-mortar stores, thus providing seamless shopping experiences. The improved integration of online and offline channels is a big attraction for Japanese shoppers.
Market key trends:
The Japan Fashion Ecommerce Market Size has seen rising popularity of social commerce solutions. Online shoppers in Japan actively use social media and messaging platforms like Instagram and Line to browse new products, get recommendations from friends, and make purchases. Many leading fashion retailers have incorporated social features on their websites and mobile apps to capitalize on this trend. Another key trend is the growth of live commerce where retailers and influencers live stream fashion shows and sales. This allows for real-time interaction with customers and has boosted sales.
SWOT Analysis
Strengths: Well established logistics and delivery infrastructure. Most cities have next day or same day delivery options.
Weaknesses: Lower penetration of credit cards compared to other developed markets. Many shoppers prefer cash on delivery.
Opportunities: Growth of mobile commerce as majority of online shopping is done on smartphones. Retailers can enhance mobile experiences.
Threats: Stiff competition from global players like Amazon and Zozotown that offer wide assortments and fast delivery.
Key Takeaways
Market size: The Japan fashion ecommerce market size was valued at US$ 56.03 Bn in 2023 and is expected to grow at a CAGR of 12.5% to reach US$ 113.24 Bn by 2030. Rapid adoption of smartphones and increasing online spending on apparel and accessories is driving the market.
Regional analysis: The Kanto region consisting of Tokyo and surrounding areas holds the major market share currently due to the high population density. However, the Tokai and Kinki regions are witnessing fastest growth supported by rising young population and expanding 3G/4G networks coverage in tier 2 and 3 cities.
Key players: Key players operating in the Japan fashion ecommerce market are JAPANNET Shopping, Happy Mail, LOHACO, SHOPLIST, iStyle by Cosme.net, DMM.com, WEGO, Felissimo, Rakuten, Amazon Japan, Zozotown, Yahoo! Shopping, @cosme, Winc, TRADEMARK JAPAN, CaSa, SHOP JAPAN, Felisiya, dot-st, LOFT. Players are focusing on personalized recommendation technologies and expanding private labels.
Read More: https://cmiresearch.blogspot.com/2023/10/japan-fashion-e-commerce-market-driven.html
