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:
Fashion ecommerce in Japan enables consumers to shop for clothing, footwear, accessories and other fashion products online from various domestic and international brands. Ecommerce businesses in Japan offer a wide variety of fashion products through their websites and mobile apps along with value-added services like fast delivery, easy payment options and cash-on-delivery. This has made online fashion shopping more convenient for consumers in Japan.
Market Dynamics:
The growth of the Japan Fashion Ecommerce Market is primarily driven by the increasing adoption of smartphones and proliferation of high-speed internet across Japan. Over 96% of the Japanese population now has access to smartphone and internet which has significantly boosted online shopping activities in recent years. Moreover, the COVID-19 pandemic has further accelerated digital adoption as more people turned to online platforms for shopping during lockdowns and social distancing periods. The Japanese government encouraging initiatives to promote cashless payments have also facilitated growth of digital commerce. However, preference for physical store experience among older demographic and lack of product touch and feel in online shopping limit the market potential to a certain extent.
Segment Analysis
The Japan Fashion Ecommerce Market Size is dominated by the women's fashion segment. It accounts for nearly 35-40% of the overall market revenues as Japanese women are heavily invested in the latest fashion and clothing trends. They frequent online shopping portals multiple times a week to check for new arrivals and deals. The men's fashion segment generates around 25-30% of sales due to rising health consciousness and demand for comfortable yet trendy wear.
PEST Analysis
Political: A stable political landscape and supportive government policies have encouraged entrepreneurship and digitization in Japan.
Economic: Japan has a highly developed free market economy. Rising income levels and exposure to global fashion have boosted online spending on clothes and accessories.
Social: Younger population is technology savvy and adaptive to new brands. Shift towards nuclear families and dual-income households has increaseddemand for convenience in shopping.
Technological: High smartphone and internet penetration along with fast broadband connectivity have enabled customers to browse and purchase merchandise online efficiently across diverse platforms.
Key Takeaways
The Japan fashion ecommerce market size is valued at US$ 56.03 Bn in 2023 and is expected to grow at a CAGR of 12.5% during 2023 - 2030. Rapid adoption of smartphones and increasing preference of customers towards online shopping are expected to drive the market in the forecast period.
Regional analysis indicates that Tokyo, Osaka, and Aichi are the leading regions in terms of online apparel spending in Japan. The surge is attributed to the digitally connected, affluent population residing in major cities.
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 like Rakuten, Zozotown and Amazon have captured substantial market share over the years.
Read More: https://www.rapidwebwire.com/japan-fashion-ecommerce-market-demand/
