If you have wondered about shopping habits in Japan, check out our list of the best selling consumer products in Japan to learn more.
The consumer society we live in is rapidly changing and the outcome is often surprising. Economic conditions affect our shopping habits and it seems that now we’re being smarter when it comes to spending money. It appears that we are no longer buying things we don’t need as much as we used to and we don’t do it impulsively but we rather think twice before paying for something. However, this does not mean that we now avoid shopping at all costs or that we shop less, it is simply that consumers are now careful how they spend their money.
Times are such that people everywhere are trying to save money, regardless of their financial situation. But the temptations are great since the less we buy more trending products there are on the market and companies try hard to attract and retain consumers. However, consumers are trying to save money by buying in bulks and choosing cheaper products. We analyzed the Japanese market in order to learn more about consumer behavior and we discovered that even consumers in Japan, who were known for preferring high-quality products, are now switching to cheaper varieties.
According to McKinsey&Company, Japanese consumers, after decades of being different, are now more similar to consumers in Europe and the United States in their pursuit of cheaper products. Japanese consumers used to favor expensive high-quality quality and were willing to pay for it, but now they are flocking to discount retailers. A great number of consumer also switched to the more convenient online shopping. The article further says that this fundamental shift is likely to continue with people now entertaining at home rather than going out and switching to affordable private-label foods.
Luxury products have been essential to Japanese consumers for a long time, but now it seems that they would rather save that money instead of spending it on nice expensive things. They have become much more careful with money that they are trying to save on everything, just like consumers in Europe and United States. Speaking of European consumer, check out our list of Best Selling Consumer Products in Germany.
Japanese consumers were not very likely to spend much time at home a few years ago, but now, according to a survey, 46% of them prefer spending time at home. We reviewed the market research in Japan on Euromonitor International, and we made a list of products and products categories which recorded the highest sales growth last year. We present to you the 10 best selling consumer products in Japan.