According to the latest report by Renub Research, titled “Japan eCommerce Market, MobileCommerce, Retail, Electronics & Media, Toys, Hobby & DIY, Furniture & Appliances, Food & Personal Care, Digital Services, Company Analysis” Japanese citizens are way ahead in terms of technology adoption. This is also true in terms of information technology. With the use of the internet for gathering information Japanese are also purchasing products through online methods with this ongoing trend. This growth is due to the transformation of shopping behaviour which is shifting to online market place from brick and mortar store. Other factors for this growth are higher per capita income, the small size of Japan which enables last-mile connectivity to supply the product at the doorstep of the consumer.
Besides that single language culture of Japan enables every customer to get adequate information about products listed on ecommerce sites. Japan has one of the advanced infrastructures in the world with better internet connectivity and the urban population who are willing to buy products through ecommerce sites. According to Renub Research analysis Japan ecommerce Market is forecasted to be US$ 325.9 Billion by the end of the year 2026.
The impact of COVID-19 on Japan eCommerce Market
Japanese government had imposed lockdown and declared a state of emergency to prevent the citizen from the deadly impact of COVID, due to this supply chain of goods was disturbed in the first half of the year 2020. During this period, only medical and essentials goods were allowed to be supplied in Japan. The market for other goods like clothing, footwear, bags and accessories declined in this period. Items like personal hygiene were sold at higher prices and in larger quantity. According to Renub Research analysis, the ecommerce market in Japan will decline in the year 2020, and it will recover in the year 2021 to grow at a much higher rate in the forecasted years.
Ecommerce companies like Amazon, Yahoo and Rakuten are investing heavily in Japan to get ahead in the race. Most of the companies are also providing better services like same-day delivery and personalized products to targeted customers.
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