The report, Japan: eCommerce Market and Payment Trends, covers, first and foremost, facts and figures related to demographics, economy and ecommerce within the Japanese ecommerce markets, a payment methods breakdown per type of payments, instruments and brands, interviews with local players – Paidy, PayPay and Rakuten Pay – on their business model and factors of success, industry trends and latest developments, from public and private initiatives to emergent customer behaviours.
However, a focus is placed on ecommerce opportunities and cultural differences to consider when attempting to launch ecommerce businesses within the Japanese market, along with aspects concerning ecommerce fraud and online fraud prevention insights, and laws and regulations for merchants to know before operating in Japan.
The report explains that there are multiple cultural aspects to selling in Japan that make this market unique, requiring extensive knowledge of regulations and consumer behaviour, as well as access to very different payment methods to meet Japanese consumers’ expectations. Nevertheless, for those who understand how to localise their shopping experience to the Japanese market – whether it’s implementing local-language support, managing and preventing fraud risks or offering familiar and trusted methods for payment and delivery – the opportunity is vast.
Degica specialists explain that the country’s ecommerce market ranks as the fourth largest in the world, and a number of western marketplaces, including Amazon and Yahoo! Shopping, are also established in Japan – meaning merchants can find a straightforward way in by working directly with these companies’ local subsidiaries.
Western businesses are better placed than ever to break into Japan’s ecommerce market, worth more than USD 140 billion and growing in value at a rate of 9%, according to the report. With Japan’s inflation well below that of Western economies – reportedly 2.4% compared to 10.1% in the UK, for instance – the country’s economy remains strong.
Meanwhile, with Japan standing as one of the most developed economies globally, the country’s cross-border ecommerce accounts for USD 18.2 billion, presenting a compelling opportunity for merchants looking to enter or expand into new markets.
Degica offers a series of solutions – ranging from payments and logistics support – to enable businesses outside Japan to gain straightforward access to the country’s large and valuable market, and businesses in Japan and the rest of Asia to tap into Western markets in Europe and the US.
Established in 2016 by Degica, KOMOJU provides clients with a global payments platform, active across four regions, with over 50 international partners and more than 4,500 active merchants. Connected to platforms such as Shopify, Wix, Woo Commerce and Magento, it offers merchants access to all major payment methods in Japan, Korea and China and incorporates FX functionalities to enable merchants to receive funds in their desired currency, while processing currencies native to local markets.
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