Japan Online Retail Market Forecast Report: Online Buyers to Cross 100 Million by 2026 [Yahoo! Finance]
RAKUTEN GROUP INC S/ADR (RKUNY)
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Source: Yahoo! Finance
The Japanese online retail market is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.5% from 2023 to 2028. Increased adoption of mobile commerce and the growth in online grocery is driving the growth of online retail. Online retail is forecast to account for 21.9% of total retail sales in Japan by 2028. Online Buyers to Cross 100 Million by 2026 The number of online buyers will cross 100 million by 2026 in Japan accounting for 82.7% of total population. An aging population in China makes online commerce a convenient form of buying goods for Japanese customers. Spending per online buyer in Japan is also on a higher side with $1,617.9 spent by online buyers in 2023. Grocery Largest Online Retail Category Online grocery is the largest online retail category in 2023 with sales of $31 billion followed by homeware & furniture and consumer electronics. Online grocery sales are expected to reach $9.5 billion by 2028 accounting for 7.3% of total grocery sales. Rakuten
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