New age of Japanese consumer

After decades there has been drastic changed in Japanese consumers. Now this is very crucial time for marketers who were operating in Europe, US,Japan and other countries because behave of consumer is changing in these countries. so, company cannot find difference between Indian consumers and these country's consumer because they all are becoming value conscious. coming to the point what change has been occured over a period of time in Japanese consumers.

1. spend money to save time Vs spend time to save money- Initially Japanese consumers were spending more money for saving his/her time but now, they want to spend time for saving of money.

2. Drastic increase in sales of private label brands- decades before they had more money and they were willing to pay for good quality product at high price but now, According to recent survey done by My voice Internet survey says sales of private label has increased by 4 to 20 percents. they are seeking value for money like Indian consumers. that become very difficult time for luxury products.

3. spend more time at Home- Initially they were spending time on moving in malls but things has been changed dramatically now, they are not willing to spend time at malls or stores because by using this they are saving money.

4. Online shopping booming- very rightly I have written that they are more conscious about value for money so, they prefer to shop online because in offline shopping they used to spend more money by visiting stores and all. so, now they can also save money for future. In online shopping consumers escape from cross selling.

Why this changed has been occur-

1. economy downturn- the very first reason is economy downturn this led to loosing jobs of citizens and many other factors related with downturn.

2. long life jobs- this is second reason because there were fear arises in mind of consumers about loosing of jobs. people do not have fixed job these days so, they understand concept of "save money and spend less".

3. new generation of consumers- this also led to these problems because new age of consumer is value conscious. they want any product or services at affordable price they are also health conscious.

My analysis- Now company have to understand consumers behavior very well like Indian consumer. they have to market product at affordable price. one things could be favor of company is that they can produce same product for mostly market.