The Japanese clothing and footwear market will establish growth with
Japanese Apparel and Footwear Market – TechSci Research
Fashion evolution is driving the growth of the Japanese clothing and footwear market, FY2017-FY2027.
According to TechSci’s report on ‘Japan Apparel and Footwear Market by Type (Apparel and Footwear), by End User (Women, Men and Children), by Distribution Channel (Specialty Stores, Supermarket / Hypermarket, Online Channels and Others (Countertops, Department Stores, etc.)), By Region, Competition Forecast and Opportunity, FY2027 “, the Japanese apparel and footwear market has shown promising growth in the historical years up to FY2020 and is expected to continue to grow over the next few years from forecast FY2023 to FY2027. The Japanese clothing and footwear market owes its growth to factors such as developments in the fashion industry.
In addition, the younger generation is actively inclined to follow recent trends and fashion sense, leading to the growth of the Japanese clothing and footwear market in the next five years. Moreover, due to the rapid increase in the disposable income of the population, it contributes to the growth of the Japanese clothing and footwear market over the next five years. The increase in brand awareness and preference for imported products are also influencing the purchasing decisions of the population, thus supporting the growth of the Japanese clothing and footwear market over the forecast years.
The organized retail industry and e-commerce channels promoting branded clothing and footwear enhance the growth of the Japanese clothing and footwear market in the next five years. Although in recent years during the pandemic and the COVID-19 epidemic, Asian countries have suffered huge losses. Lack of raw materials and shortages of inputs are a major concern for clothing and footwear manufacturers and therefore may slightly dampen the growth of the future market. Various global brands are showcasing their products in the country as well as fashion events and exhibitions, which allows fashionable design presentations etc. to further contribute to the growth of the Japanese clothing and footwear market over the course of the forecast period, until 2026.
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The Japanese apparel and footwear market is segmented into type, end user, distribution channel, regional distribution, top 3 states analysis in each region, and competitive landscape. Based on the distribution channel, the market is then segmented into specialty stores, supermarkets / hypermarkets, online channels and others (over the counter stores, department stores, etc.). The e-commerce sub-segment is expected to hold the largest revenue shares of the market and dominate the market segment owing to the rapid increase in consumer purchasing decisions.
In addition, internet penetration and increased use of smartphones is also driving the growth of the Japanese clothing and footwear market over the next five years. In addition, specialty stores with branded labels and global brands are also expected to experience significant growth in the Japanese clothing and footwear market over the next five years.
The Japanese clothing and footwear market is growing with the developing and changing market players like Uniqlo, GU, ASICS, BAPE, Mastermind Japan, Cav Empt, Nike, Inc., VF Corporation, Adidas America, Inc., Under Armor, Inc., PVH CORP., LEVI STRAUSS & CO., H&M Hennes & Mauritz LP, Kering Americas, Inc., Zara USA, Inc., among others. The mentioned market players have larger market revenue shares than other players existing or entering the market.
The major players in the market are actively engaged in the research and development of advanced products so that consumer demand can be met. Consistent research guarantees future launches of the best products and services. With a surge in demand for advanced products, new market entrants would be able to establish their brand and hence their market. Other strategies include collaborations and partnerships with pre-existing market players or research institutes, so that government funding can be used for product development.
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“The Japanese fashion industry is growing and changing fashion trends are establishing robust growth in the Japanese clothing and footwear market. The demand for fashionable clothing and footwear for children and newborns further strengthens the growth of the Japanese clothing and footwear market in the next five years. Branded clothing and footwear often generates a valuable CAGR and thus brings economic growth to the retail industry, which justifies the growth of the Japanese clothing and footwear market over the next five years. New market players are advised to focus on studying the evolution and evolution of fashion as well as customer preferences. Developing designer products while maintaining product quality and authenticity and providing recent fashion sense to their products should strengthen branding for new market players, ”said Mr. Karan Chechi, Research Director at TechSci Research, a global research-based management consulting firm.
“Japanese clothing and footwear market by type (clothing and footwear), by end user (women, men and children), by distribution channel (specialty stores, supermarkets / hypermarkets, online channels and others (over the counter, department stores) stores, etc.)), by region, competition forecast and opportunity, FY2027 ”assessed the future growth potential of the Japanese clothing and footwear market and provides statistics and information on the size, structure and future growth of the market. The report aims to provide cutting edge market insights and help policymakers make sound investment decisions. In addition, the report also identifies and analyzes emerging trends as well as key drivers, challenges and opportunities in the Japanese apparel and footwear market.
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