The Japanese apparel market and fashion industry did witness a minor downfall after the earthquake of 2011, but soon bounced back overcoming the economic concerns. The categories trending in the Japanese apparel markets are women's outerwear, sportswear, and children wear. Recent innovations in functional garments has increased the sales and increased the unit price of such clothing.
Japanese consumers no longer prefer regular and economy clothing but have shifted their interest towards premium, good quality, and high-end apparels and fashion. The top 100 apparel retailers of Japan, both domestic and international brands, accounted 63 percent of total sales of clothes for the year 2012.
Tokyo along with other fashion capitals of the world has its own unique fashion style and sense. The Japanese street fashion is one of its kinds and is slowly getting attention from fashion gurus all around the world. A few cutting edge trends and styles have been made global by popular brands from the country. The modern Japanese street styles draw influences a lot from the West. For example the Lolita look, gaining popularity and growing interest worldwide, are a cute and feminine style with lacy frocks, small purses, and hats.
The gothic and punk styles are also immensely popular among young Japanese fashionistas. The kogal style, which is based on high school girls in checked short skirts, loose socks, and dyed hair is also a famous style being emulated and embraced all across the globe. The fairy kei and dolly kei have become extremely well known styles from Japan to the world, wherein a lot of pop colors especially pink, with over the top glitter, toys, and Barbie-like influences are borrowed to put on clothes.
Apart from this many high end street brands like Harajuku and Shibuya are winning hearts of the fashion conscious all around the globe. These brands present a collection of clothes that are a fashionable mix of Japanese style and western sleekness. Fashion brands like Samantha Thavasa are adopting ambassadors like Paris Hilton and Victoria Beckham to market their products in Japan and outside the country for a universal appeal.
A popular fashion brand called A Bathing Ape roped in hip hop stars Nigo and Pharrell Williams for collections of their clothes. Uniqlo is one of the largest fast fashion retail running successfully across Japan and is expanding by opening stores in other countries too
Japanese designers like Yohji Yamamoto, Issey Miyake, Comme des Garcons by Rei Kawakubo, Motonari Ono, and Kazuhiro Takatura are renowned in the fashion industry showcasing collections in fashion weeks in the country and at other fashion capitals. There are many international players who have entered and received remarkable sales and gained popularity in the country. H&M, Topshop, Old Navy, and American Eagle Outfitters are some American retailers in Japan creating a competitive environment for the domestic players.
The most admired channel of shopping by Japanese shopper is e-commerce. E-tailing was the highest growing medium in the landscape of Japan's apparel and fashion industry. Jupiter Shop Channel, La Boo, and Start Today are some of the highest grossers in online clothing and retailing. Japanese consumers are known for pursuing high quality and durability in products and hence they have a growing demand for luxury clothing, especially a growing market for unused luxury items.
There are many consumers who want to sell and buy luxury clothing and accessories they have bought but remain unused. A lot of online channels are bursting out in the Japanese un-used luxury market to make buyers and sellers meet. However, due to lack of trust and fear of counterfeit products consumers do not prefer to purchase or sell through such mediums.
However, many companies have attempted to resolve such issues and are providing "white glove services" for a price to Japanese shoppers. The US based website that have mastered and won the trust of consumers The RealReal has entered Japanese unused luxury clothing market. The company curates high-end products that range from 500o to 1 million.
For international brands and fashion retailers, Japan has a big market and is backed by stability and profitability. Moreover, there are many unmet demands and unexplored markets in the country which provide new avenues for further growth and investment. The domestic apparel retail brands are facing the pressure of rising labour prices, higher raw material prices, and higher margins from outsourced production which in turn affect the final selling price of a garment to consumers.
The rise in consumption tax to 8 percent in 2014 and another hike of 2 percent in the coming year has led to decline in sales recently. But brands like Uniqlo and Toray aim to turn round the corner by developing high-tech garments with advanced technology to keep shoppers interested and in the coming years they hope to stabilize the prices.
References:
1. Businessoffashion.com
2. Euromonitor.com
3. Tokyofashion.com
4. Nytimes.com
Comments