This report targets EU food companies seeking to find new export markets, in this case Japan. Finding new export channels is critical for any business but especially now following the Covid-19 crisis. With all businesses facing profound uncertainty about the future, flexibility, innovation and seeking out new opportunities is vital for survival. Businesses can no longer rely on customers that have supported them for the last decade; there are no guarantees, no matter how long the relationship.
Japan offers EU companies a real opportunity to find new sales. Japan has not been affected as much as many markets because the lock down has not been as severe. As a result, most economic functions continued, including the consumer economy.
Japanese consumers also have much, much higher savings levels than many markets so, even in a downturn, have more spending capacity – this is why Japan has remained one of the top five consumer economies in the last 20 years on a per capita basis. Japan also has a fast-growing wealth market, making it ideal for any EU firm selling premium products.
As a result, Japan has a flourishing premium food market which is one of the best in the world. Japanese demand for great tasting, high-quality and innovative food brands from EU firms remains very strong. In fact, because competition between retailers is intensifying, demand for new and exciting products from the EU not yet sold in Japan is increasing. There has never been a better time to sell to Japan.
About the Experts
Michael Causton is a specialist on Japanese distribution, retailing and marketing. He founded and led a successful business within Japan’s distribution and retail system and then established another to provide research on it. He co-founded JapanConsuming (www.japanconsuming.com) in 1999 which has since become the leading market research firm on Japanese retailing and distribution for non-Japanese companies.
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