Inside Japan: The Must-watch Market of the Year
June 12, 2023
Any skier or snowboarder with an internet connection has likely salivated over clips of Japan’s record-breaking snowfalls, pillowy descents and backcountry playgrounds. Yet the country’s outdoor Mecca exists well beyond winter sports. During this year’s Golden Week, for example—a time each spring in which Japanese widely travel—it’s expected that women will increasingly explore the outdoors solo, people will take culinary-focused trips, and that outdoors outings and camping will be popular pursuits.
In fact, much like other parts of the world where the global pandemic drove a surge in outdoor retail sales and participation, Japan has been experiencing a similar boom. According to one source, this year Japan’s sports and outdoor revenue is projected to hit US$2.69b, with an annual growth rate of 10.25% from 2023-2027. That growth has placed it firmly among the leading outdoor markets in the world. Japan is the fifth-largest outdoor retail market after China, the United States, England, and Germany.
Nowhere is this boom more apparent, however, than on Rakuten Ichiba, one of the country’s top e-commerce platforms, operated by global internet services leader Rakuten. From 2019 to 2022, the annual average growth rate of the outdoor category’s sales on the site has been more than 24.3%, according to Rakuten data.
The power of Rakuten
Rakuten is a leading player not just by virtue of Japan’s shopping culture, but also by early entry to the market and constant evolution. Japanese business magnate Mickey Mikitani founded the company in 1997 as an economic response to the Kobe earthquake, which devastated much of the country. Launching it initially as an online shopping mall, over time Mikitani grew it from a simple marketplace to an entire consumer ecosystem, expanding to everything from travel to credit cards and building out a rewards system with points, which shoppers can use like cash practically anywhere on everything from booking flights to buying a half-caf, pumpkin spice latte.
Rakuten Ichiba is distinct from American e-commerce websites through its high standards for retailer vetting and its requirement that retailers must be involved with their own sales, at least at the outset. Its stringent partnership program not only improves the quality and overall trust in the brand among consumers, but also helps protect brands from counterfeit products and marketplaces. It also provides guidance and resources to help brands set up their online storefronts (Weber’s landing page is one example of the finished product) and works with retailers to optimize sales.
https://outdoorretailer.com/news/...he-must-watch-market-of-the-year/ |
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