The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn more28 pages, Apr 2014
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Despite a fleeting Abenomics-fuelled boost in consumer confidence providing some respite in 2013, the Japanese apparel and footwear retailing market remains plagued by poor demographic and economic conditions. In this tough climate, innovation in product development and retailing concepts has become the key focus. This report assesses Japan’s apparel and footwear retailing landscape, pinpointing where the elusive growth lies.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Japan’s position as the world’s third largest apparel and footwear market is being jeopardised by its weak economic and demographic conditions. The country’s growth prospects are greatly overshadowed by neighbouring markets in Asia Pacific.
A prolonged period of weak income growth has put Japan’s middle-income consumer base, which constitutes over half of the country’s population, under pressure. Planned VAT increases pose a further threat to spending power.
There is a strong trend in Japan for selective shopping - income pressure is encouraging consumers to choose economy and discounted products for everyday items, but a desire for luxury brands still exists.
Japanese retailers such as Fast Retailing Co Ltd and Shimamura Co Ltd have a strong foothold on the local apparel and footwear market, due to better understanding of local tastes and focus on innovation.
Providing consumers with a constant stream of novelty both in terms of products and retailing concepts has been a key strategy for sales growth in Japan, highlighted by the success of Fast Retailing Co Ltd.
The increasing number of women entering the workforce has been a key driver of womenswear in Japan. Marketing initiatives and products targeting working women has become a key strategy for apparel retailers.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.