Japan has been the world’s third-largest economy and 20 million Internet users and 50 million mobile phone users; Japan has a lot to offer for international businesses. Japan holds or represents 10% of the world’s economy and has an e-commerce sale that reached $120 billion in 2017. The future of e-commerce sale opportunities in Japan are increasing.
Japan has a strong population of middle-class consumers that embrace new technologies and have a high disposable income; which is why Japan is suitable for international businesses offering premium goods or services or innovative solutions that are digitally focused. So, if you are planning to expand into Japan, we have listed below some tips below that will help you conduct business in Japan efficiently.
Here Is a Quick Guide to Follow:
- Providing potential investors a summary of what your business is about
- What you plan to offer
- Who your target audience will be
- Why you are selling it to them
- Why should people buy your product or service and how do you plan to get it to them?
- Do you plan to hire people and if so, how many?
- Workout your finance and costs.
- Market Entry Strategy
Competitor Analysis
Your competitors will make or break your business, so you should always know what they are up to. For example, if their services or products are cheaper than yours, it is essential to find out why. Your curiosity should be on who are my competitors, what products or services do they offer, and what is the Japanese market potential.
This is called SWOT – Strengths, Weaknesses, Opportunities, and Threats, which you should conduct frequently. This will contextualize your business with the market and juxtapose your competitors.
Market Research
Market research mainly focuses and deals with a business investigating how a consumer market is and making sure your product or service juxtapose it. Market insights will give you the opportunity to know more about your consumers, like their patterns and habits for example, will allow you to understand how they will react to your goods. Depending on the time, place, seasons, moods, etc., they will likely buy your products.
This means that you need a well written and well-researched business plan essential before you plan on expanding into Japan.
Japanese people feel challenged when it comes to using English – you can’t believe what it takes when consumers want to buy your product when all they see are contents in English! There are more than just borders to cross.
We’re a new class of professional agency located in Tokyo and we specialized in helping foreign tech startups to launch their successful products campaign in the Japanese market.
As your topmost choice, We’ll handle everything you need from start to finish.
Get in touch today and let Gloture help your brand standout with huge success in Japan!
