According to Japan’s “Asahi Shimbun” report, Japan’s Ministry of Economy, Trade and Industry recently conducted a survey on the topic of overseas marketing strategies in the Japanese fashion industry. After the survey, it was strongly suggested that Japanese apparel companies should not limit their sights to the ever-slumping trend. For the domestic market, we should focus on exploring the Chinese and Southeast Asian markets.
Survey results show that the demand for the fashion industry market is expected to increase slightly from 18 trillion yen in 2013 to 18.9 trillion yen in 2020. In contrast, China will increase by 60 trillion yen by 2020, reaching a total of 113 trillion yen, becoming the world’s largest fashion market. Southeast Asia will also increase from 4 trillion yen in 2013 to 8 trillion yen by 2020. Therefore, the department recommends that Japanese fashion companies should join forces to jointly develop the Chinese and Southeast Asian markets through strategies such as creating stores that attract customers.
