Japan Buy Now Pay Later (BNPL) Databook 2022: 75+ KPIs BNPL Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics and Consumer Demographics 2019-2028 | News

0

DUBLIN, April 19, 2022 /PRNewswire/ — The “Japan Buy Now Pay Later Business and Investment Opportunities Databook – 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics – Q1 2022 Update” report has been added to ResearchAndMarkets.comit is offer.

BNPL payment in Japan is expected to grow by 68.8% on an annual basis to reach US$12,552.6 million in 2022.

Mid to Long Term Growth Story of the BNPL Industry in Japan stay strong. BNPL payment adoption is expected to grow steadily over the forecast period, registering a CAGR of 28.2% during 2022-2028. The gross value of BNPL’s goods in the country will increase from US$7436.6 million in 2021 to reach US$55,702.3 million by 2028.

In Japan, the BNPP payment method (buy now, pay later) has been widely adopted by consumers. The flexible payment solution grew primarily due to merchants and consumers looking for better ways to manage their cash flow. As a flexible financing option, BNPL payment method adoption is on the rise among millennials and Gen Z consumers in Japan.

Consumers in these demographic groups have increased their use of BNPL products for online purchases over the past four to eight quarters in Japan. Therefore, the publisher maintains robust growth prospects for the Japanese BNPL industry in the short to medium term.

The use of BNPL products jumped in the travel segment in Q4 2021 in Japan

Apart from the growing use of BNPL products to make fashion-related purchases, the use of BNPL services also increased in the travel segment in the fourth quarter of 2021 in the country.

According to the BNPL Q4 2021 Global Market Research, the number of consumers purchasing airline tickets and coach tickets using BNPL products increased significantly during Q4 2021 in Japan.

In addition, e-commerce platforms offering hotel, ferry, tour and bus reservations, using BNPL products, saw significant growth during this period.

The publisher expects the use of BNPL products to continue to increase in the short and medium term travel category in Japan. This will subsequently lead to more strategic partnerships between BNPL suppliers and offline and online travel-related businesses in the country over the next four to eight quarters.

New entrants to the BNPL industry are expected to further intensify innovation and competition in Japan

With the increasing adoption of BNPL products by consumers in Japannew players are entering the deferred payment space to meet the growing demand in the country.

In November 2021, Smartpay, an all-in-one Japanese payment experience, announced that the company is launching a BNPL product offering for consumers in the country. Highlighting the growing need for BNPL products, the company mentioned that Japan has an e-commerce cart abandonment rate of over 80%, which is one of the highest in the world.

In particular, the Smartpay BNPL product is the first BNPL payment offer free of charge for consumers in Japan with credit cards. According to the company, there are no registration fees, settlement fees or interest charges. Consumers can make equal payments that are due in three installments spread over eight weeks.

BNPL’s Global Businesses Seek to Expand Presence in BNPL’s Japan Market

As the short to medium term growth story of the BNPL industry in Japan remains strong, BNPL’s global platforms plan to expand their product offering to consumers in the country.

In November 2021, SingaporeBNPL-based Pace announced plans to expand its presence in the global market, including Japan, South Koreaand Taiwan. The announcement comes after the company raised $40 million in funding in its Series A round. The funding round was led by from Japan Marubeni Ventures, South Korea Atinum Partners, Taiwan AppWorks, and indonesia Alpha JWC.

Founded in 2021, Pace is still a relatively new BNPL platform; however, it is already present in several markets, including Singapore, Malaysia, hong kongand Thailand. The company has an extensive network of 3,000 retail outlets across the region. In addition to its extension through Asiathe company plans to use the funding round to expand its technology and product development.

The publisher expects competition and innovation to further intensify in the Japanese BNPL market as global companies enter the Japanese BNPL market.

Scope

Japan BNPL Market Size and Spending Pattern

  • Gross Commodity Value Trend Analysis
  • Analysis of trends in the average value per transaction
  • Trading volume trend analysis

Japan Buy Now Pay Later Operational KPIs

  • Revenue from buy-it-now and pay-later, 2019 – 2028
  • Buy Now Pay Later Share by Revenue Segments
  • Buy Now Pay Later Merchant Commission, 2019 – 2028
  • Buy now, pay later, missed payment fee revenue, 2019 – 2028
  • Buy Now Pay Later Pay Now and Other Revenues, 2019 – 2028
  • Accounts Buy Now Pay Later, 2019 – 2028
  • Buy Now Pay Bad Debt Later, 2019 – 2028

Japan Buy Now Pay Later Market Share Analysis by Key Players

  • Paid
  • Separate it
  • Sakura Kanko
  • Flight
  • VIP lining
  • J trip
  • Adyen

Japan Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast

  • online channel
  • POS channel

Japan Buy Now, Pay Later in Retail: Market Size and Forecast

  • Gross Commodity Value Trend Analysis
  • Analysis of trends in the average value per transaction
  • Trading volume trend analysis

Japan Buy Now, Pay Later in Home Improvement: Market Size and Forecast

  • Gross Commodity Value Trend Analysis
  • Analysis of trends in the average value per transaction
  • Trading volume trend analysis

Japan Buy Now, Pay Later in Leisure and Entertainment: Market Size and Forecast

  • Gross Commodity Value Trend Analysis
  • Analysis of trends in the average value per transaction
  • Trading volume trend analysis

Japan Buy Now, Pay Later in Healthcare and Wellbeing: Market Size and Forecast

  • Gross Commodity Value Trend Analysis
  • Analysis of trends in the average value per transaction
  • Trading volume trend analysis

Japan Buy Now Pay Later in Other: Market Size and Forecast

  • Gross Commodity Value Trend Analysis
  • Analysis of trends in the average value per transaction
  • Trading volume trend analysis

Japan Buy Now Pay Later Analysis by Consumer Attitude and Behavior

  • Buy now, pay later Increased sales by product category
  • Buy now Pay later Split spend by age group
  • Buy now, pay later Share of gross merchandise by revenue
  • Buy now, pay later Share of gross value of goods by gender
  • Buy Now Pay Later Rationale for Adoption Gross Goods Value Analysis

For more information on this report or to inquire about the BNPL subscription which contains access to 45 BNPL country reports for 1 year, please visit https://www.researchandmarkets.com/r/mdcmtu

Media Contact:

Research and Markets

Laura Woodsenior

[email protected]

For EST office hours, call +1-917-300-0470

For USA/CAN call toll free +1-800-526-8630

For GMT office hours call +353-1-416-8900

US Fax: 646-607-1907

Fax (outside the US): +353-1-481-1716

Show original content:https://www.prnewswire.com/news-releases/japan-buy-now-pay-later-bnpl-databook-2022-75-kpis-bnpl-trends-by-end-use-sectors-operational-kpis- retail-product-dynamics-and-consumer-demographics-2019-2028-301527771.html

SOURCE Research and Markets

Share.

Comments are closed.