Japan is full of opportunity!
5 reasons why you should consider selling in Japan!
1. Economic size
Japan is the world's third largest market followed by United States and China in terms of GDP volume. Japan is also known as the second largest computer and telecommunication market in the world.The Japanese economy has always been stable with strong buying power nationwide. With 125 million racially homogeneous nation,you can market your product to Japanese consumers effectively if you have a right marketing strategy.
2. Tech savvy consumers
Japan has always been known as a leader of robotics, cars, and technology. There is a saying, "If you succeed in Japan, you can succeed anywhere in the world" which means you have developed a product or service that has met the high expectations of the discerning Japanese market that has extremely high standard for quality.Japanese consumers love new trends and technology.Many Japanese consumers tend to like foreign brands, so there are a lot of great opportunities for foreign brands to target Japanese consumers.
3. High e-commerce adoption rate
Over 80% of population have smartphones and high-speed internet available nationwide, e-commerces have been adopted heavily in Japan. Rakuten, Amazon Japan, and Yahoo! Japan are the top 3 leading e-commerce platforms in Japan. Japanese e-commerce is expected to grown 26 trillion yen market size by 2023.Online payment is highly adopted on online purchase. Promoting your product in Japanese e-commerce platforms is one of the best ways to market your product in Japan.
4. Challenge to enter Japanese Market
Because of its geological location surrounded by ocean and with a racially homogeneous nation, The Japanese people like every other culture and country have developed a unique culture and language. Many Japanese people do not speak basic English, so it's hard for western companies to conduct business in Japanese in the Japanese market. Also, Japanese consumers can be very demanding with high quality standard expectation, so many western companies must localize or redevelop products in order to succeed with Japanese consumers.Japanese regulation/restriction also can be difficult for western companies to enter market. Because of such reason, Japan has many very strong local companies, so it's hard to complete with them even though a well-known brands in western world.
5. What if we can enter with help?
Due to the reasons listed in 4, many western companies tend to focus on western markets first before entering to Japanese market.
However,thanks to the innovation of internet, you can now outsource a lot of work to local experties without much of overhead upfront.Ignoring the third largest market in the world is huge opportunity loss. Go Go Japan will help such innovative startup companies worldwide to enter Japanese market, so that you can expand the business in the third largest market in the world and increase the presence. "Act fast, fail fast" mindset is important in this fast changing society. If you can try to enter Japanese market with minimum investment, why don't you act now?