Bella Katz on Twitter, Facebook, LinkedIn

As someone who has spent several years living in Tokyo (1997-1999) I always have one eye on what goes on there. As a marketer it is (was) an even more remarkable place to see - the fashion, innovation, luxury, strict adherence to trend groups, kookiness, shopping… Tokyo has always been an especially insightful place to watch.

So it is with great interest, and a little sadness, that I read this latest research from McKinsey Quarterly on how the new Japanese consumer is becoming, well, more like us. I feel a little sad because when I lived there as a young professional new to my career, I loved how extraordinarily different the Japanese consumer lifestyle was from the New Zealand one I had grown up with. The shopping districts were like nothing I had ever seen before, the passion for luxury and labels was eye popping and the immaculate attention to how products and brands could define an individual was nothing short of extraordinary.

I happily allowed myself - and my meager first job wages - to be influenced, even in a comparatively tiny way, to become a more discerning (snobby?) consumer. I may not have bought a $10,000 Louis Vuitton handbag, but I happily and proudly offloaded the bulk on my monthly salary in Marui and discovered fashion labels I’d never laid eyes on in NZ. But change is inevitable and it’s hardly surprising what McKinsey has uncovered.

Some interesting findings from the McKinsey article:

• Sales of relatively affordable private-label foods have increased dramatically, and many consumers, despite small living spaces, are buying in bulk.
• Instead of eating out, people are entertaining at home.
• Change stems not just from the recent downturn but also from deep-seated factors ranging from the digital revolution to the emergence of a less materialistic younger generation.
• Luxury-goods companies are watching a decade of growth disappear, with year-on-year sales declines of 10 to 30 percent.
• They are also deserting department stores in unprecedented numbers, preferring to spend their time in malls and stand-alone specialty shops.
• More than 50 percent of consumers are buying more online than they were just 12 months ago.

Read the full article here: The new Japanese consumer

Bella Katz on Twitter, Facebook, LinkedIn

Melbourne’s Chadstone shopping centre has opened its luxury wing to massive crowds. So massive in fact that rather than risk a riot, management started and finished a voucher promotion at 5am on opening day.

Yesterday, a beautiful sunny day, the queues to Louis Vuitton, Gucci, Tiffany, Chanel… were more than 30 deep with security staggering people allowed through the door. By all accounts it has been a veritable success.

Today, a rainy Melbourne day, Luxury has a different story and the new marble floor is dotted with blue plastic buckets as rain, rather than sunlight, pours through that designer glass ceiling.

I wonder what Karl Lagerfeld, Patrizio di Marco et al would have to say about that…