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| Japan Fashion Ecommerce Market Size |
The global Japan Fashion E-commerce Market is estimated to be valued at US$ 56.03 Bn or Mn 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:
The Japan fashion e-commerce market deals with selling of fashion products such
as apparel, footwear, accessories and others through online platforms. Fashion
e-commerce enables consumers to browse through a wide range of products on
vendor websites and mobile applications. It provides added advantages like
convenient shopping from home, options to compare prices of numerous brands,
varied payment choices and easy return policies. Rising internet penetration
along with increasing adoption of smartphones have augmented the growth of
fashion e-commerce in Japan.
Market key trends:
One of the key trends driving the Japan fashion e-commerce market is increasing
penetration of smartphones and internet connectivity in the country. As per
data, around 99% of Japan's population is connected to internet as of 2022.
This has made online shopping more feasible for consumers. Additionally, the
COVID-19 pandemic has changed consumer shopping behavior significantly with
more people opting for contactless digital shopping. Advanced technologies like
virtual try-ons, AI recommendations and VR/AR features are also expanding the
scope of fashion e-commerce in Japan by enhancing online shopping experience
for users.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the Japan fashion
ecommerce market is moderate. New entrants require high initial investment to
develop online infrastructure and brand awareness.
Bargaining power of buyers: The bargaining power of buyers is high in this
market as buyers have large options to choose from various retailers and
substitute products. They can easily switch between retailers based on price
and offers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as
there are many suppliers for fashion products in Japan and retailers can switch
between suppliers.
Threat of new substitutes: The threat of new substitutes is moderate as online
and offline channels provide substitutes. However, switching costs are
relatively low for buyers.
Competitive rivalry: Competition is intense among existing retailers as there
are many established players.
Key Takeaways
The Japan
Fashion Ecommerce Market Size is expected to reach US$ 56.03 Billion by
2023, exhibiting a CAGR of 12.5%
over the forecast period. Rapid proliferation of smartphones and high
penetration of internet have boosted online shopping in Japan.
Regional analysis indicates that the Kanto region including Tokyo and Kanagawa
is expected to dominate the market owing to high internet penetration and
tech-savvy youth population. Western Japan region is also expected to grow at a
significant rate during the forecast period.
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, and LOFT. Rakuten and
Amazon Japan capture majority share due to their wide assortment and speedy
delivery capabilities.
Read More: https://www.trendingwebwire.com/japan-fashion-ecommerce-market-analysis/