Key takeaways
The report shows that despite Japan's "lost" three decades, there are still some mass consumer goods that have performed well during this economic downturn. There are two clear main lines behind these successful categories: one is consumer goods that benefit from changes in society, demographics, and family structure, such as quick-frozen food, alcoholic beverages, etc., and the other is categories that stimulate incremental demand through product innovation and overseas strategies, such as beer and cosmetics.
The data reveals significant changes in Japan's social and family structures, including a "low-desire society," an aging population, a smaller family structure, and an increase in women's labor force participation. These changes share many similarities with China's current evolution of demographics and household characteristics, providing a new perspective on consumer goods investment.
Product innovation in Japanese consumer goods is mainly focused on innovation for different consumption scenarios, consumer groups and product categories. For example, Asahi has launched beers with different packaging characteristics for off-the-shelf and off-the-shelf scenarios, and Descente has launched different sub-brands for different sports scenarios. In addition, the strategy of successful overseas expansion of Japanese consumer goods includes brand going overseas and supply chain going overseas, which provides valuable experience for enterprises in other countries.
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