We study Japanese consumers day in and day out at The Carter Group/Japan Market Resource Network. Combining proprietary results from our 5th Annual Consumer Sentiment Survey with selected market data, we’ve put together an informative update on where consumers stand amidst the COVID situation, including:
- Perceptions of COVID-19 related activities (vaccines, JGOV response, Tokyo Olympics, etc.)
- Life and work amidst the pandemic (working styles, physical and emotional health consciousness, social connections)
- Shifting patterns in consumer spending
- Spending mood across 29 product categories
- Overall timeline, emergency states, # of cases in different areas of Japan
In Japan (as in other parts of the world), the negative consequences of the prolonged pandemic can be seen with declines in people’s mental and social wellbeing (as well as in physical health), with continued uncertainty for the future and implementation of social distancing measures.
Now experiencing the 3rd State of Emergency, Japanese consumers have adjusted to the so-called new normal. But there is a pessimistic outlook about the crisis and there is a desire to return to pre-COVID times as pandemic fatigue sets in.
Although there is cautious consumer spending behavior and discretionary consumption remains sluggish, the pandemic has reshaped the consumer landscape with a strengthening of in-home consumption and an adoption of digital behaviors.