Japan is the second-largest retail market globally. For decades Japanese consumer’s preferences and cultural trends have been influential trend setting phenomenona. To understand how global consumer trends are transforming, it is important to look Japanese consumers behavior and attitudes towards consuming. Today we see behavior shifting. The change of Japanese consumers is not only about what people in Tokyo buy, but also how and what they think when they make decisions for purchases. Future Watch report and analysis of consumer trends and lifestyles in Japan was done in collaboration with Euromonitor International’s Tokyo office researchers.
Reports objectives were to Identify and analyse key consumer trends that are shaping Japanese society and understand how these trends are likely to evolve over the next three to five years. Important outcome of this report is to assess what these trends mean to Finnish design and lifestyle companies and brands and provide key recommendations for how to position these brands and products to Japanese consumers.
We found three main underlying change drivers:
- Ethical Living – Although ethical living is a new concept for the Japanese, increasing public awareness and ongoing education about the idea will encourage more people to understand the importance of being ethical consumers.
- Middle class retreat – Consumption patterns are increasingly becoming more selective and consumers are seeking value for money in Japan. The strong interest in unique products among the Japanese will boost demand for items that have a story and brand philosophy.
- Loner Lifestyle – With active consumption through the rising number of single-person households, many products and services are now being tailored to singles. As members of this demographic have a strong desire to shape their living spaces into a style that suits them, furniture/home interior goods will benefit from this trend.
What we see now is that world’s second-largest consumer market is changing as Japanese consumers increasingly are looking for new values for lifestyles and ethics as a consumer. For Finnish companies these trends are opening new opportunities and perspective.
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