The fashion ecommerce industry in Japan has witnessed significant growth over the past few years. Fashion ecommerce enables consumers to browse and purchase wide range of apparel, footwear, accessories and other fashion items online from the comfort of their home. It provides added advantages like convenience of shopping anytime without visiting retail stores, options to compare prices of various products, availability of unique and exclusive designer products, easy return/exchange policies, among others.
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The Japan Fashion Ecommerce Market Size is estimated to be valued at US$ 64.55 Bn in 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
Preference for Online Shopping Among Japanese Consumers

The growing preference for online shopping, especially among younger population is expected to drive the growth of fashion ecommerce market in Japan. Factors such as convenient payment options, faster delivery, option to choose from wider range of products, product reviews, easy price comparisons are fueling the online shopping trend in the country. According to a recent survey, about 75% of consumers in Japan shop online at least once a month now compared to only 63% five years ago. Young working professionals and college students are increasingly adopting online shopping owing to its ease. The growing online shopping trend provides huge opportunity for fashion ecommerce players to expand their customer base and drive higher sales in the country.

Porter's Analysis
Threat of new entrants: The Japan fashion ecommerce market faces moderate threat of new entrants as market players need large investment to set up infrastructure and distribution network. However, growing ecommerce trend and increased adoption of smartphones provide new opportunities.
Bargaining power of buyers: Buyers have high bargaining power in the market due to presence of many established players offering wide range of fashion products. Buyers can easily compare products and prices online.
Bargaining power of suppliers: Established fashion brands and suppliers have moderate bargaining power due to existence of many supplier alternatives in the market.
Threat of new substitutes: Threat from substitutes is low as fashion products have limited substitutes. However, threat from other online retail channels remains.
Competitive rivalry: The market experiences high competitive rivalry among major players due to their large market share and established brand presence.

SWOT Analysis
Strength: Wide product range, established brand image, omni-channel presence. Large customer base and strong logistics support.
Weakness: High operating costs, supply chain issues, increasing competition from local players. Dependence on few major suppliers.
Opportunity: Growing ecommerce trend, high smartphone penetration, young tech-savvy population. Rising income levels and changing lifestyle.
Threats: Economic slowdown, stringent regulations, data privacy issues. Changing customer preferences and high bargaining power of buyers.

Key Takeaways
The  Japan fashion ecommerce market is expected to witness high growth over the forecast period supported by robust economic growth, rising disposable income, growing internet and smartphone penetration in the country. The  Japan Fashion Ecommerce Market is estimated to be valued at US$ 64.55 Bn in 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period 2024 to 2031.

Regional analysis: The Eastern region dominates the market currently owing to high population density and tech-savvy young population. Cities like Tokyo and Osaka account for over 30% of total ecommerce sales in the country. Growth will be fastest in regional areas due to increasing internet connectivity and rising affordability.

Key players: Key players operating in the Japan fashion ecommerce market are Nestlé S.A., The Coca-Cola Company, PepsiCo Inc., Cargill Inc., Evolva Holding S.A., PureCircle Ltd., Stevia Corp., Ingredion Inc., GLG Life Tech Corp., and Tate & Lyle Plc. They collectively account for over 60% market share.

Get More Insights on This Topic: https://www.pressreleasebulletin.com/japan-fashion-ecommerce-market-trends-growth-and-regional-outlook-2023-2030/

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