Now price-conscious, wealthy and sophisticated shoppers
Demanding the world's best service and most innovative products
Today we will provide an overview on the development of Japanese consumerism, the particularities of Japanese consumer behavior, new consumer groups such as the Silver Market and young male Consumers and the Japanese food market today.
Crisis only partially explains the changes in the luxury market in Japan
Steady appreciation of the euro against the yen decreased demand
Unique characteristics of Japanese luxury shoppers – middle class, and thus the demand in Japan is not as inelastic as in countries with high income inequality
Long-term shifts in consumer behavior: new trends to mix inexpensive goods with luxury goods (H&M, Forever 21 in Ginza)
”The days of simply slapping on a logo and charging a ridiculous price are gone” - Fiona Wilson, the Asia editor of Monocle, a style magazine. Instead, there is more interest in craftsmanship and value for money. (Economist, 2008)
Consumers Spend Less 20.06.2011 Folie 11| Analysts expect anxiety to decrease once the government presents a future plan for the nation. Consumer confidence (in livelihoods, income growth, employment conditions and the timing of new durable goods purchases) showed the sharpest fall since 2004.
Luxury Sales Dropped in the Past Months Traditional luxury shoppers (Arafo) changed their consumer behavior already (ethical and eco-friendly values and enjoying the present Once the economic crisis is over, only 65 percent of luxury shoppers across the demographic groups are planning to return to their luxury spending habits. About 1/3 of consumers claimed that they will never spend the same way on luxury items 20.06.2011 Folie 12|
Some Industries are Booming! Changes in consumer attitudes and behavior can so far only be anticipated 20.06.2011 Folie 13|
20.06.2011 Folie 14| Thank you for your attention