Japan: Consumer Profile

August 2023

By 2040, Japan's market will tilt toward elderly, childless households due to falling fertility rates and an aging populace, with Gen X reigning supreme. Despite a relatively low inflation rate, a quarter of Japanese consumers are driven by bargain hunting. Millennials and Gen Z, prioritizing experiences over goods, will dominate the country's highest income bracket, a deviation from global trends. There is also an escalating demand for work-life balance, particularly among youth.

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Overview:

Consumer Profiles  reports  provide key insights into the country's consumer landscape and uncover related business opportunities in 40 countries.

The Consumer Profiles offer valuable statistics and insights into key consumer indicators, linking household size, age, income, and spending patterns to behavioral trends and consumption habits. Utilizing a wide range of socioeconomic data, these reports quantify behaviors, preferences, and motivations both presently and forecasted across 40 markets. Analysis also encompasses Euromonitor’s lifestyles survey results, alongside the examination of longer-term shifts in consumer attitudes and behavior, analyzing their impact within each of the 40 countries. Consumer profiles are constantly changing, influenced by both socioeconomic factors and behavioral changes. Understanding these shifts is imperative for businesses to maintain competitiveness and adapt in order to capitalize on emerging opportunities.

The Consumer Profiles in Japan report includes:

A high-level analysis of socioeconomic data, including insights on demographics, income and expenditure, households, and consumer lifestyles backed by both in-house statistics and survey data. It also provides a concise compilation of socioeconomic data, offering a snapshot of the consumer landscape today (2022) and in the future (2040). The report is also illustrated with relevant and actionable case studies

The Consumer Profiles in Japan report answers:

  • How consumers in Japan are changing? 
  • What are key changes in Japan population, society and generational structure and how it is affecting businesses?
  • What is the household structure in Japan and how it is changing consumer landscape?
  • What are key income groups in Japan? What is the outlook for the future?
  • Where consumers are  spending the money in Japan? 
  • How is the consumer mindset in Japan changing?
  • In Japan, what are consumer attitudes towards “green” and sustainable products?
  • Where and how do consumers shop in Japan?
Download Table of Contents
Scope
Key drivers affecting consumers in Japan in 2022
How developments today shape the consumer of tomorrow
Key findings
Today 2022: The growing population of late-lifers and seniors
Today: Low immigration and declining birth rates contribute to population decline
Product exploration falls shor t , yet younger cohorts embrace social media shopping
Tomorrow 2040: Rising life expectancy and low birth rates amplify older population growth
Tomorrow : Generation X poised to surpass Baby Boomers as dominant age group
Tomorrow : Largest Japanese cities will no longer grow due to population declines
Areas of opportunity
Case Study: Toyota's C+walk S promotes successful ageing for older adults
Today 2022: More Japanese households choose to live without children
Single-person households are on the rise, despite shrinking population
Ensuring a secure location tops the list for home features, particularly for Baby Boomers
Tomorrow 2040: Rise of single seniors coincides with decrease in families with children
Older males will retain their central role in household decision-making
Domestic smart products dominate Japanese households' technological landscape
Areas of opportunity
Case study: Kachaka, the home robot, to optimise time allocation for household tasks
Today 2022: Income inequality remains moderate by global standards
The impact of rising prices for consumers has been mitigated by high savings
Consumer spending intentions revolve around travel and health
Tomorrow 2040: Dominance of social classes D and E will persist until 2040
Tomorrow 2040: Current Gen Z and Millennials will dominate the top-income band by 2040
Tomorrow 2040: Tokyo set to continue as Japan's largest consumer market
Areas of opportunity
Case study: Longing for travel and exploration is met by an air balloon reaching 25km
Key findings consumer survey
The future appears brighter to the younger generation
Strong per capita savings and low inflation mitigate cost of living crisis
With the exception of Baby Boomers, Japanese climate change concerns rank low
Japanese consumers place a greater emphasis on work-life balance
Slow economic growth and stagnant wages foster frugality among Gen X and Baby Boomers
Areas of opportunity
Mercari takes second-hand marketplace offline to reach a larger addressable market
Key takeaways
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