Japan is one of the biggest e-commerce markets in the world, only behind China, the US and the UK for total sales value. Annual online sales in the country are around $79 billion and, what’s more, it’s a market that is growing fast.
The leading marketplace platform in Japan is Rakuten, though Amazon also has a significant presence. Together Rakuten and Amazon offer potential sellers unrivalled access to a huge online audience of buyers in Japan and, naturally, this can be a big draw for many sellers in the west.
How WorldFirst helps sellers using marketplaces in Japan
For sellers who take the plunge and add Japan to their list of overseas territories, WorldFirst’s local JPY receiving accounts make it faster, cheaper and easier to bring home sales revenues earned in the east.
Faster – local currency receiving accounts
International receiving accounts in JPY opened quickly and for free. These can be used to collect sales from marketplaces (like Amazon) and then used to move fund back to your home account when you’re ready.
Cheaper – great exchange rates
Great exchange rates when transferring JPY back to your home bank account
Easier – outstanding customer service as standard
Not only does WorldFirst make it easier to open JPY accounts, but you’ll also benefit from round the clock support from our team of experts who will be with you every step of the way.
Why sell on marketplaces in Japan?
Japan is the fourth largest e-commerce market in the world, behind only China, the US and the UK. It is one of the fastest growing markets too – a recent forecast predicted that it could be worth as much as USD$113 billion by 2022. There are a number of other factors that make it an ideal destination for the ambitious marketplace seller looking to establish a new market in Asia.
Japanese consumers are amongst the wealthiest and most-connected in the world. The IMF puts Japan level with the UK in terms of GDP per capita whilst the website internetworldstats.com reports that 94% of the population has internet access.
Marketplaces are established and popular in Japan and the three biggest platforms are Rakuten, Amazon and Yahoo. A 2017 survey found that 87% of internet users had used Amazon and almost a half having shopped on the platform at least once a month.
Western brands and products are popular with Japanese consumers and ‘clothing and accessories’ and ‘cosmetics’ are two of the most popular product categories.
So, what are you waiting for?
To get going today, register with WorldFirst here or call 020 7801 1068.