8. Understanding Today’s Marketplace

The Japanese economy will most likely continue to remain strong in the coming decades, and a strong Japanese economy will allow for the growth and maintenance of leisure time for its citizens. There has been an effort by the Japanese government to encourage the expansion of two-way tourism between Japan and the world under the auspices of the Tourism Nation Promotion Basic Law with targets for both inbound and outbound tourists. Reasons for traveling have evolved over the years and conditions are becoming more favorable with the availability of mass transportation, more opportunities for leisure time pursuits, and the affordability of long-distance travel. Japanese luxury retail continues to be strong but brands must continue to work with Japanese consumers to justify their purchases.