LONDON--(BUSINESS WIRE)--As one of the largest and most advanced fashion industries in the world, Japan is the home of many high-quality fashion brands and innovative fashion trends that have been well-recognized in the global market. The latest development and drawbacks of Japan’s fashion industry, e-commerce market as well as its fashion innovations are some of this week’s featured stories on BizVibe. BizVibe is the world’s smartest B2B marketplace and allows users to connect with over seven million companies around the globe.
Japan’s fashion industry sets to recover from the recent decline
After the industry slowdown caused by the country’s financial problems, Japan’s fashion industry had annual turnover of USD 96 billion, marking a slight fall in sales of apparel and footwear. The country’s financial situation has meant that many consumers have less spending power, but certain segments, such as luxury goods and athleisure apparel, are flourishing and expecting a promising future prospect.
Japan’s aging population is another challenge to the market. In general, the older population segment has less interest in fashion trends. This group also has less need for business apparel, which is traditionally a very large segment in Japan’s fashion industry.
E-commerce industry in Japan is burgeoning
The e-commerce industry in Japan is well established. According to a report by the Ecommerce Foundation, as of 2015, 91% of the Japanese population is using the internet and 70% of Japanese adults are shopping from online stores, while clothing is the most popular items shopped online.
The growth of the Japanese e-commerce industry, while still positive, has been falling over the past few years, mainly due to the facts such as aging population and limitation for growth in the number of internet users.
Japan as a leader in textile reuse
Japan has been one of the world’s leaders in innovative textile recycling and textile waste reduction. A Japanese recycling company – Jeplan - is pioneering a method that will allow cotton fibre to be extracted from one ton used clothing and textiles during a fermentation process and then converted to about 700 liters of bioethanol.
Jeplan is currently working with Japan Airlines and Tokyo’s Green Earth Institute in order to use their process to make fuel for Japan Airlines’ planes. Trial flights are set to take off in 2020.
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