International Brand Management
1. Briefly summarize the main characteristics of Japanese fashion luxury market Japan was considered the world’s largest market for luxury brands. Japan represented between 12 and 40 per cent of luxury goods sold worldwide. And much of that volume is form Japanese purchases while on trips to Hawaii, the US or Asia.
* Japan was the world’s most concentrated source of revenue for luxury brands, there are many competitors. * Japan represented the biggest market for other luxury brands such as Baccarat, Burberry, the Gucci Group, Louis Vuitton and Salvatore Ferragamo. * New and foreign brands also will shake up the market share of exiting luxury companies in Japan offering high quality at competitive prices, such as Zara, H&M, Uniqlo.
| * Consumer behavior is different from the Western one. * Japan had been known for a group-oriented culture and in Japan young women and the urban population who possessed a famous, expensive luxury brand item was immense which was different in other cities such as New York, Sydney, Paris. * In Western societies, luxury brand were not very perceived among society, but in Japan the cultural and social homogeneity among the society and the existence of a large middle class and high population density and an “impersonal” society form which affected Japanese consumption habits different from the Western. * Challenges in Japanese consumers behavior and habits by the new trends, such as the young women who had become more aware of the value of the money and understood themselves much better.
| * In response to the global financial crisis, foreign luxury brands were lowering their price, and many luxury brands were aiming for transferring the form and positioning new group consumers such as wealthier families and older women. * Even though the global recession, the Japanese luxury market would remain a healthy an growing industry. * The Japanese was...
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