The third biggest economy in the world, Japan is a global superpower in more ways than one, notwithstanding its comparatively smaller size and population count even if its gross domestic product (GDP) is estimated to be around US $ 4.9 trillion (in 2021).
Renowned as the land of the rising sun, Japan also boasts of a very vibrant fashion retail sector.
The apparel market size of Japan is US $ 76 billion. It imported apparels worth US $ 24.34 billion (as of 2021).
There are many factors that are at play in the Japanese fashion market. While there are several challenges to navigate, there are also a host of opportunities to take advantage of. With its variety of styles and trends, this market is not one to be overlooked.
Reasonably good FOBs, loyal buyers and technical support to its suppliers, add a different dimension to Japan as a prospective market, especially for India, which has a free trade agreement (FTA) with Japan by the virtue of which it enjoys zero tariff even as efforts are on to give a boost to exports of ‘Made in India’ apparels to Japan.
The constant decline in imports from China has been another encouraging trend as it has opened up the windows of opportunity for others.
The top apparel items imported by Japan from the world include jerseys, pullover, cardigans, waistcoats and similar items of man-made fibres, knitted; jerseys, pullovers, cardigans, waistcoats and similar items of cotton, knitted or crocheted; T-shirts, singlets, cardigans, waistcoats and similar items of cotton, knitted or crocheted.
One of the major trends affecting the Japanese fashion market is the move towards more casual and athletic clothing, which follows the Government’s increased focus on its annual Cool Biz campaign, which has encouraged workers to wear lighter, more casual clothing at work during the hot summer season with the intention of reducing CO2 emissions and electricity use (if people wear cooler clothes, they can reduce the use of air conditioners and save energy). This has encouraged use of open-necked, short-sleeved shirts, polo shirts and aloha shirts.
Athleisure and athletic apparel is another trend which is becoming fast popular in the country as health and wellness continues to gather pace even as the Tokyo 2020 Summer Olympics gave a facelift to the rising popularity of sportswear in the country.
Meanwhile, high internet usage has proved to be a boon for e-commerce and online shopping, both through desktop and mobile with an ever-increasing number of Japanese buyers resorting to online shopping.
If you are keen to get some rare insights about the thriving Japanese fashion retail market, how to make the most of the opportunities on offer and catch up with buyers from Japan, make sure to attend Apparel Sourcing Week 2023 on 20th-21st July at Sheraton Grand Bengaluru Whitefield Hotel and Convention Center, Bengaluru.
Mark the dates in your calendar
Apparel Sourcing Week 2023, a two-days Sourcing Show not only provides the Asian manufacturers a platform to showcase their products & manufacturing capabilities to the Brands & Retailers from all over the world including India, but also extends them a chance to attend the multiple seminars (headed by industry experts), workshops, open-house discussions and networking opportunities organised during these three days, which would help the manufacturers get a better understanding of Indian and International Retail and evolving dynamics of sourcing in various markets and retail formats.
Apparel Resources is well known for its benchmark publications – Apparel Online, StitchWorld and Resource Guide published from India, Bangladesh & Vietnam. These publications have been around in the industry for over 35 years, supporting, guiding and standing by garment exporters and the retail industry globally, providing them a platform to source better.