Japan: Consumer Profile

October 2024

By 2040, Japan's aging population and shrinking workforce is set to reshape its economy, with single-person households dominating and healthcare demand surging as older cohorts remain the most prevalent. Despite recent wage increases, financial conservatism is set to persist, leading to slower private consumption growth compared to global trends with consumers prioritising savings. Job security remains a top priority, reflecting the country’s deep-rooted tradition of lifetime employment.

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Overview:

Consumer Profiles  reports  provide key insights into the country's consumer landscape and uncover related business opportunities in 40 countries.

The Consumer Profiles offer valuable statistics and insights into key consumer indicators, linking household size, age, income, and spending patterns to behavioral trends and consumption habits. Utilizing a wide range of socioeconomic data, these reports quantify behaviors, preferences, and motivations both presently and forecasted across 40 markets. Analysis also encompasses Euromonitor’s lifestyles survey results, alongside the examination of longer-term shifts in consumer attitudes and behavior, analyzing their impact within each of the 40 countries. Consumer profiles are constantly changing, influenced by both socioeconomic factors and behavioral changes. Understanding these shifts is imperative for businesses to maintain competitiveness and adapt in order to capitalize on emerging opportunities.

The Consumer Profiles in Japan report includes:

A high-level analysis of socioeconomic data, including insights on demographics, income and expenditure, households, and consumer lifestyles backed by both in-house statistics and survey data. It also provides a concise compilation of socioeconomic data, offering a snapshot of the consumer landscape today (2022) and in the future (2040). The report is also illustrated with relevant and actionable case studies

The Consumer Profiles in Japan report answers:

  • How consumers in Japan are changing? 
  • What are key changes in Japan population, society and generational structure and how it is affecting businesses?
  • What is the household structure in Japan and how it is changing consumer landscape?
  • What are key income groups in Japan? What is the outlook for the future?
  • Where consumers are  spending the money in Japan? 
  • How is the consumer mindset in Japan changing?
  • In Japan, what are consumer attitudes towards “green” and sustainable products?
  • Where and how do consumers shop in Japan?
Download Table of Contents
Scope
Key findings
Key drivers affecting consumers in Japan in 2023
How developments today shape the consumers of tomorrow
Today 2023: Low birth rate and among the highest longevity fuel population ageing
Immigration fails to offset low birth rate, leading to continued population decline
Among the lowest obesity rates globally leads to reduced prevalence of high blood pressure
Tomorrow 2040: Seniors are the only demographic predicted to rise in number
Despite higher government spending on family initiatives, the population is set to shrink
Smaller cities to decline faster than Tokyo, which offers more economic opportunities
Opportunities for growth
SoftBank and Tempus partner to advance Japanese healthcare with AI treatment plans
Today 2023: Household size is declining as number of childless households rise
In an ageing society, only single person households are projected to grow in prevalence
Despite decreasing household size, Japanese are gravitating towards more spacious homes
Tomorrow 2040: Extended households are set to decrease at the fastest rate
Household heads to age, with persisting gender inequality in household decision-making
Japanese tech-savvy population fuels high digital adoption and rich gaming culture
Opportunities for growth
Void Gaming's INTUITION PS5 controller supports high-skill Japanese gaming
Today 2023: Inflation outpaced income growth in Japan, reducing purchasing power
Japan set for the largest wage hikes in decades in 2024
Japanese consumers remain cautious on spending, but show increased intent for travel
Tomorrow 2040: Rising income inequality with no progress in closing the gender pay gap
Unlike the global silver consumers trend, Millennials to dominate the top-income bracket
Wage hikes, easing inflation and tax cuts fail to boost Japanese consumption long term
Opportunities for growth
BYD challenges Toyota’s dominance as affordable EV sales surge in Japan
Key findings of consumer survey
Value for money is the top priority across all generations when buying household essentials
Japanese consumers seek discounts to save more but will pay premium for tailored products
Consumers prioritise financial stability over climate concerns, worrying less than global peers
Despite faster short-term wage growth, Japanese consumers remain financially cautious
Job security is key, with early workforce entry supported by a structured job-hunting process
Opportunities for growth
Lime’s affordable seated electric scooters to cater to the needs of senior consumers
Key takeaways
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