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Luxury Electronic Gadgets in Japan

Japan luxury electronic gadgets market: YEN4 billion industry in 2012


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2014-03-12 06:29:01 - Luxury Electronic Gadgets in Japan - a new market research report on companiesandmarkets.com

Imported brands continued to dominate the Japan luxury electronic gadgets market. There were few players in this category and no domestic players. Manufacturers are pulling away from the market. For example, the global luxury mobile phone brand Vertu withdrew from the Japanese market in 2011. Porsche design Blackberry is one of the few luxury mobile phones available in the market. Since there are not many products easily available in the domestic market, consumers are required to purchase products from overseas.

Bang & Olufsen withdrew from luxury MP3 players in Japan in 2011. The sound quality of MP3 players is not as good as CD, DVD or records. As such, real audio fans were not active in purchasing luxury MP3 players. As

 

 

a result, luxury mobile phones is now the only category within luxury electronic gadgets.

The lacklustre performance of luxury electronic gadgets is expected to continue over the forecast period. Sales will continue to shrink at a constant value CAGR of 4% over 2012-2017. Economic uncertainty will continue to encourage consumers to stay away from purchasing luxury electronic gadgets. Even after economic recovery continues, Japanese consumers will have little interest in luxury electronic gadgets without the introduction of new products that appeal on the basis of value for money.

Key Headlines

- Luxury electronic gadgets declines by 9% in current value terms to less than ¥4 billion in 2012
- Japanese consumers continue to have little interest in luxury electronic gadgets
- Only luxury mobile phones registers significant sales
- Imported brands continue to dominate luxury electronic gadgets
- Luxury electronic gadgets is expected to continue registering declining sales at a CAGR of 3% in constant value terms over the forecast period

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Author:
Mike King
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