Japanese young people having no desire for purchase

In Japan, people in their 40s and 50s tend to work hard in order to fulfill their extravagant desires. Since they were raised in the times when Japan wasn't affluent enough for them to easily buy ordinary things they wanted, it's been said that they have a relatively strong desire to lead a better life along with their favourite good-quality products. High on their list of desirables is trips abroad. Especially when they were young, these desires inspired them to work hard and helped them endure long working hours. High-end, quality cars always attracted them. Many of them preferred to wear brand-named outfits. Until recently, it was apparent that young people had been driving domestic consumption.

Today, young people no longer fulfil this role, which has resulted in the Japanese market being deprived of the driving forces of the domestic economy. They basically aren't interested in making new purchases. They consider it foolish that people spend a lot of money on extravagant things that some middle-aged people are still willing to buy. They don't want to have unnecessary things and prefer to lead a simple life. Overseas trips don't provoke their interest, either.

Many of them were born in houses that were full of material products acquired in Japan's affluent times. Also, I think that they haven't developed a strong desire to purchase material items since they have been able to acquire the things that they want with family assistance, such as from their grandparents. Due to fewer children being born into families, they have more opportunities to be given things. In addition, the prolonged economic stagnation has been discouraging them to spend money on things that they consider extra and has contributed towards their prudent attitude to product consumption.

Under these circumstances, companies here have been struggling not only with the current economic crisis but also to establish their new business models. Also, the critical challenge of environmental conservation has affected young people's buying habits.

Recently, companies that have accurately fulfilled young people's needs and adjusted itself to the times have been enjoying its rapid growth and receiving a lot of attention.