PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1424406
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1424406
Japan fashion ecommerce market size is estimated to be valued at US$ 23,238 Mn in 2023 and is expected to reach US$ 61,235 Mn by 2030, exhibiting a compound annual growth rate (CAGR) of 14.8% from 2023 to 2030.
Report Coverage | Report Details | ||
---|---|---|---|
Base Year: | 2022 | Market Size in 2023/2024: | US$ 23,238 Mn |
Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023/2024 to 2030/2031 CAGR: | 14.80% | 2030/2031 Value Projection: | US$ 61,235 Mn |
Japanese fashion ecommerce market has been registering steady growth over the forecast years. With rapid penetration of high-speed internet and growing smartphone usage, more and more Japanese consumers are shopping online for various fashion apparel and accessories. Particularly younger demographic cohorts have increasingly embraced ecommerce platforms for discovering new fashion trends as well as convenient doorstep delivery of orders. Major domestic retailers like Uniqlo is a brand of Fast Retailing Co., Ltd., a leading Japanese retail holding company, and Fast Retailing is a public Japanese multinational retail holding company have complemented their physical stores with robust omnichannel strategies, focusing on personalized online experiences. International fashion brands like Zara and H&M (Hennes & Mauritz AB) is a multinational clothing company have also strengthened their direct-to-consumer online channels in Japan. Overall, the convergence of favorable demographic forces, advanced digital infrastructure, and continued expansion of fashion product assortments online are expected to continue propelling the Japan fashion ecommerce market upwards in the near future.
The Japan fashion ecommerce market is driven by several factors such as rising youth population with high disposable incomes, rapid proliferation of smartphones, and high-speed internet connectivity, and evolving consumer shopping behaviors favoring convenience of online platforms. However, factors like preference for tangible in-store shopping experiences among older demographics and relatively tight inventory management of some domestic labels pose challenges. Major opportunities for market participants include further optimizing mobile-responsive websites, leveraging artificial intelligence (AI) and virtual/augmented (VR/AR) reality for personalized recommendations, launching exclusive online product lines, and strategizing promotions during seasonal sale periods. Continuous enhancements in logistics networks for swift delivery across prefectures will also augment market potential.
Japan Fashion Ecommerce Market Segmentation: