Metaverse eCommerce - Japan | Statista Market Forecast

The Metaverse eCommerce market in Japan is projected to reach a value of US$1.7bn by 2024.
It is expected to show a strong annual growth rate (CAGR 2024-2030) of 39.45%, resulting in a projected market volume of US$12.4bn by 2030.
China leads the market with a projected market volume of US$10.2bn in 2024.
In Japan's Metaverse eCommerce market, the number of users is expected to reach 29.2m users by 2030.
User penetration is anticipated to be 8.1% in 2024 and is expected to increase to 24.6% by 2030.
The average value per user (ARPU) is projected to be US$169.8.
Japan's Metaverse eCommerce market is booming, with virtual shopping experiences and digital marketplaces gaining popularity among tech-savvy consumers.

Definition:

The eCommerce market refers to the buying and selling of goods and services within virtual reality environments, such as virtual worlds, social VR platforms, and other immersive digital spaces. These can include virtual storefronts, digital marketplaces, and other online shopping experiences that allow users to purchase real-world products or virtual items using virtual currencies and/or real-world money. Metaverse eCommerce can also include virtual shopping experiences, where users can explore and interact with virtual stores, try on virtual clothing and accessories, and make purchases through virtual cash or real-world money.

Structure:

The eCommerce market also covers the markets Beauty, Health, Personal & Household Care, Toys, Hobbys, DIY & Media, Furniture, Electronics, Fashion, and Food & Beverages. All of them refer to the specific goods that can be bought in the metaverse.

Additional Notes:

The market comprises market sizes, users, average revenue per user, and penetration rates. Market sizes are generated through in-app purchases and consumer spending on items, products, and hardware such as headsets and glasses. Market numbers for eCommerce are also featured in the Digital Market Insights. Key players in the market include companies, such as IKEA, Virtual Realms, and Holition. For more information on the data displayed, use the info button right next to the boxes.

Marketplaces in the metaverse, such as Decentraland's Marketplace
Items bought for avatars used in the metaverse, such as Costumes or Skins
Fashion for avatars, such as Gucci stores
Electronics, such as AR and VR hardware

Physical items used for the metaverse, such as Oculus Quest
Purchase of games that are considered metaverse, such as Roblox or Sandbox

The Metaverse eCommerce market in Japan is experiencing significant growth and development.

Customer preferences: Japanese consumers have always been early adopters of new technologies, and the Metaverse eCommerce trend is no exception. They are increasingly drawn to the immersive and interactive shopping experiences that the Metaverse offers. In a society that values convenience and efficiency, the ability to browse and purchase products from the comfort of their own homes is highly appealing to Japanese consumers. Additionally, the Metaverse allows for a more personalized and tailored shopping experience, which resonates well with Japanese consumers who appreciate attention to detail and individuality.

Trends in the market: One of the key trends in the Metaverse eCommerce market in Japan is the integration of virtual reality (VR) and augmented reality (AR) technologies. Retailers are leveraging these technologies to create virtual stores and showrooms where consumers can explore and interact with products in a lifelike manner. This not only enhances the shopping experience but also addresses the limitations of online shopping by providing a sense of tangibility. Furthermore, social features within the Metaverse, such as virtual events and community interactions, are gaining popularity among Japanese consumers, as they provide a sense of connection and shared experiences.

Local special circumstances: Japan has a unique cultural context that influences the development of the Metaverse eCommerce market. The country has a strong gaming culture, with a large population of avid gamers who are familiar with virtual worlds and digital experiences. This familiarity with virtual environments has paved the way for the acceptance and adoption of the Metaverse in Japan. Additionally, the aging population in Japan has created a demand for innovative solutions that cater to the needs of older consumers. The Metaverse eCommerce market presents an opportunity to address the challenges faced by older individuals, such as limited mobility, by providing a convenient and accessible shopping experience.

Underlying macroeconomic factors: The Metaverse eCommerce market in Japan is also driven by macroeconomic factors. The COVID-19 pandemic has accelerated the shift towards online shopping, as consumers seek to minimize physical contact and reduce the risk of infection. This has created a favorable environment for the growth of the Metaverse eCommerce market, as it offers a safe and immersive alternative to traditional brick-and-mortar retail. Additionally, the government's efforts to promote digital transformation and innovation in the retail sector have further fueled the development of the Metaverse eCommerce market in Japan. These initiatives include providing support and incentives to businesses that adopt digital technologies and encouraging collaboration between traditional retailers and tech companies. In conclusion, the Metaverse eCommerce market in Japan is experiencing rapid growth and development, driven by customer preferences for immersive and personalized shopping experiences, the integration of VR and AR technologies, unique cultural circumstances, and underlying macroeconomic factors. As the market continues to evolve, it presents new opportunities for retailers to engage with Japanese consumers in innovative and meaningful ways.

Data coverage:

Figures are based on in-app spending, consumer spending, in-game spending, app downloads, and investment and funding data.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use reports, third-party studies, and research companies. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, and internet penetration rates. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are consumer spending per capita, level of digitalization, and cloud revenues.

Additional Notes:

The market is updated twice per year in case market dynamics change. Consumer Insights data is unbiased for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Before Mark Zuckerberg announced Facebook’s name change to Meta to the surprise and sniggers of social media users, the metaverse was a niche and futuristic concept familiar to the tech and science-fiction aficionados. Yet now, it has become the catchphrase that sets the scene for the next stage of the internet. Facebook’s rebranding of Meta as one of the building blocks of the metaverse was powerful enough to trigger immediate response from the world’s biggest retail and consumer brands. In the week following Zuckerberg’s Meta presentation, Nike made patent applications for a number of its logos and slogans, and in December 2021 acquired the virtual sneakers company RTFKT. Nike is one of the growing number of retail brands that are silently preparing their launch into the metaverse where fashion is flaunted not as physical goods but as virtual assets. According to a study, Nike applied for 12 IoT patents in the three months running up to May 2022.