ICM_YCH_DATTEBAYO

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ICM_YCH_DATTEBAYO

  1. 1. Youth Consumer Habits :“I Just Want A Humble Life” DATTEBAYO!!! JasuwhaChoi 10BN927J Kyoko Hemmi 08BN107E JaeSeok Gim 10BM903F Christian Jensen 10BN937K
  2. 2. Mindset Cases Reasons Results Resources The Mindset TheMindset Japanese youth’s don’t want to spend excessive money College students in specific are “not interested in big spending” There is a growing need to be more conservative and maintain financial security
  3. 3. Mindset Cases Reasons Results Resources Case 1: Automotive Interests Case 1: Automotive Interests (車離れ) Japanese males are losing interest in cars Owning a car is becoming too expensive Cheaper alternatives Only 25% of Japanese men in their 20s wanted a car in 2008 according to Business Daily Nekkei survey Down almost half from 48 percent in 2000 Honda is having difficulties selling cars such as the “2010 CRZ” targeted towards a younger demographic
  4. 4. Mindset Cases Reasons Results Resources Case 1: Automotive Interests 警察庁、運転免許統計、H 19~H 21
  5. 5. Mindset Cases Reasons Results Resources Case 1: Automotive Interests Why Do Car Interests and Sales Amongst Youths Decline? While cars are relatively inexpensive, with the cheapest available under 1M Yen, owning expense is high Bi-annual inspections(車検) Mandatory insurance Automobile tax Parking fees Cheaper alternatives Trains Car-sharing, Rent-a-car
  6. 6. Mindset Cases Reasons Results Resources Case 2: Luxury Goods Case 2: Luxury Goods The ‘hype’ for quality, luxury goods is still important in Japan However, younger women are losing interest in high priced luxury goods Japanese women don’t see the “need” to spend the premium amount for something casual Example: Sales for Louis Vuitton in Japan were at a 10 percent drop in 2008
  7. 7. Mindset Cases Reasons Results Resources Reason 1: No Money, No Spending Reason 1: No Money, No Spending Wages in Japan have been declining since the late 1990’s 48 percent of workers in Japan under the age of 24 are temporary workers
  8. 8. Mindset Cases Reasons Results Resources Reason 2: Psychology Reason 2: Psychology Recent emergence of a new generation with radically different attitudes. This generation—people in their 20s—has grown up through Japan’s difficult economic climate, never knowing the boom times the two previous ones experienced. Its lifestyle has prompted the nickname the hodo-hodozoku, or “so-so folks” (or, even worse, “slackers” or “herbivore men”). Many shun corporate life and material possessions and are more pessimistic and more likely to be unemployed than their elders.
  9. 9. Mindset Cases Reasons Results Resources Reason 2: Psychology The hodo-hodozoku, or “so-so folks” Japan’s youth in a bad mood Low consumer confidence  Low future consumption Japanese youth consumers are now flocking to discount and online retailers.
  10. 10. Mindset Cases Reasons Results Resources The Results The Results? Young shoppers are value-driven Cocooning ”hunkering down in a comfortable, if declining, Japan, unwilling to take risks or engage with the world except online, typically through social networking or communication platforms such as Twitter” – (Salsberg and Kosugi) Shop stores, increasingly buy goods without prejudice to country of origin
  11. 11. Mindset Cases Reasons Results Resources The Future For Japanese Youths The Future For Japanese Youths Fundamental shift in the attitudes and behavior of Japanese consumers seems likely to persist, irrespective of potential economic recovery The emergence of a new generation with radically different attitudes. This generation—people in their 20s—has grown up through Japan’s difficult economic climate, never knowing the boom times the two previous ones experienced. Its lifestyle has prompted the nickname the hodo-hodozoku, or “so-so folks” (or, even worse, “slackers” or “herbivore men”). Many shun corporate life and material possessions and are more pessimistic and more likely to be unemployed than their elders. “As the CEO of a leading sports-apparel company in Japan recently said, ‘For the first time, we have a generation of consumers that aren’t at all persuaded by what the professional athletes are wearing. We need a fundamental rethink of how to approach this next generation’” (Salsberg, 2010, para. 16).
  12. 12. Mindset Cases Reasons Results Resources Resources "運転免許統計(警察庁)." 警察庁. Web. 10 Jan. 2011. <http://www.npa.go.jp/toukei/menkyo/menkyo13/h21_main.pdf>. Fujitsu. Research Institute. Aim for a 4% Wage Increase at Next Year’s Spring Wage Offensive. 6 Dec. 2010. Web. 10 Jan. 2011. <http://jp.fujitsu.com/group/fri/en/column/message/2010/2010-12-06.html>. McKinsley and Company. Youth to Japan: Where Is Our Future?McKinsley and. CSI Insights Flash, Oct. 2010. Web. 10 Jan. 2011. Nguyen, Steve. "The Changing Consumer Behavior in Japan." Workplace Psychology. 22 Mar. 2010. Web. 10 Jan. 2011. <http://workplacepsychology.net/2010/03/22/the-changing-consumer-behavior-in-japan/>. "Prices and Living Cost in Japan." Japan-guide.com - Japan Travel and Living Guide. 8 Nov. 2010. Web. 10 Jan. 2011. <http://www.japan-guide.com/e/e2202.html>. Salsberg, Brian. "The New Japanese Consumer." McKinsey Quarterly: Online Business Journal of McKinsey & Company. Mar. 2010. Web. 10 Jan. 2011. <http://www.mckinseyquarterly.com/The_new_Japanese_consumer_2548#>. Tabuchi, Hiroko. "When Consumers Cut Back: An Object Lesson From Japan." The New York Times. 21 Feb. 2009. Web. 10 Jan. 2011. <http://www.nytimes.com/2009/02/22/business/worldbusiness/22japan.html?_r=2&th&emc=th>.

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