日本先買後付（BNPL）市場評估：依管道、依公司、依人口統計、依最終用途、依地區、機會、預測，2018-2032年

2025-2032年預測期間，日本先買後付（BNPL）市場規模將以13.95%的年複合成長率成長，從2024年的165.6億美元成長到2032年的470.7億美元。由於消費者偏好的變化和技術的進步，日本的BNPL 市場成長。隨著千禧世代和 Z 世代轉向線上購物，他們對更便利交易的需求改變了零售格局。這些數位原住民更喜歡線上交易的便利性和即時性。這使得 BNPL（先買後付）成為無需立即財務支出即可處理購買的有吸引力的選擇。因此，BNPL 服務的使用是由對技術的舒適度以及該人群對無縫、無摩擦購物的基本渴望所推動的。此外，人工智慧技術在擴大市場方面發揮著非常重要的作用。人工智慧技術可以透過個人化的貸款解決方案在改善 BNPL 體驗方面發揮作用，這些解決方案使審批流程更加順暢，並透過日益複雜的詐欺偵測演算法實現更好的風險管理。因此，新興的消費者行為和先進的技術能力之間的協同作用導致了日本一個充滿活力且快速成長的BNPL 市場，其重點是滿足精通技術的消費者尋求便利的需求。

先買後付（BNPL）模式考慮到了當今消費者所喜歡的便利性和財務靈活性，因為他們可以立即獲得產品，但可以先買後付。據通產省表示，到2023年，無現金支付比例將穩步上升至39.3%，據稱到2025年將達到40%左右。

本報告調查了日本先買後付（BNPL）市場，提供了市場概況、依管道、公司、人口統計、最終用途、地區的趨勢，以及進入市場的公司概況等。

目錄

第1章 專案範圍與定義

第2章 研究方法

第3章 執行摘要

第4章 顧客回饋

第5章 日本 BNPL 市場前景，2018-2032

• 市場規模分析與預測
• 市佔率分析與預測
• 2024年市場地圖分析
  • 依管道
  • 依公司
  • 依人口統計資料
  • 依最終用途
  • 依地區

第6章 供需分析

第7章 價值鏈分析

第8章 波特五力分析

第9章 PESTLE分析

第10章 利率分析

第11章 市場動態

第12章 市場趨勢與發展

第13章 案例研究

第14章 競爭態勢

• 前 5 名市場領導者的競爭矩陣
• 前 5 名的公司的SWOT 分析
• 前10名主要企業狀況
  • ZOZO Inc.
  • APaylater Financials Private Limited (Atome)
  • Block Inc.
  • Klarna Bank AB (publ)
  • PayPal Holdings Inc.
  • Smartpay K.K.
  • Sumitomo Mitsui Card Company Limited (Atokara)
  • Net Protections Inc.
  • LINE Pay Corporation
  • AEON Financial Service Company Limited

第15章 策略建議

第16章 查詢及免責聲明

Japan buy now pay later market is projected to witness a CAGR of 13.95% during the forecast period FY2025-FY2032, growing from USD 16.56 billion in FY2024 to USD 47.07 billion in FY2032. Japan BNPL market is growing through changes in consumer preference, combined with technological advancement. As millennials and Gen Z are more inclined toward online shopping, their demand to facilitate their transaction modes has changed their retail landscape. These digital natives love the ease and immediacy of online transactions. Hence, buy now pay later (BNPL) is an attractive option to handle purchases without immediate financial outlay. The use of BNPL services is, therefore, driven by comfort with technology and a basic desire from this demographic for seamless and frictionless shopping. Moreover, AI technology is playing a pivotal role in the market's expansion. AI technology acts to enhance the BNPL experience through more personalized financing solutions that make the approval process smoother and better risk management due to fraud detection algorithms that are increasingly sophisticated. The synergy between the emergence of consumer behaviors and advanced technological capabilities is, therefore, building a BNPL market in Japan that is dynamic and fast-growing, with a focus on serving the requirements of a technologically savvy audience seeking convenience.

The buy now pay later mode considers the preference of today's consumer for convenience and flexibility in their finances, as it gives them access to products instantly but with deferred payments. According to the Ministry of Trade, Economy, and Industry, in 2023, the cashless payment ratio increased steadily to 39.3%, reaching a steady increase with the goal of around 40% by 2025.

Growing Preferences for Online Shopping Among Millennials and Gen Z Drives Market Growth

Among the fastest-growing sectors, buy now pay later is the biggest contributor, driven by millennials and Generation Z, looking for financial flexibility and alternative methods over conventional credit cards. Current economic stressors, including increasing student debt and rising living expenses, allow installments without accrued interest, leading to market growth. In April 2024, Smartpay launched fully digital in-store payments with free automated installments in Japan. The company's development of new technology means merchants can set up in-store Smartpay with installments in 30 seconds at no integration cost. In two years, it wants to grow to 2 million consumers and, within three years, to 30,000 merchants.

Besides, millennials and Generation Z grew up with technology, it has been second nature to buy online. Therefore, BNPL services have been tailor-made to complement the existing digital platforms. The appeal of transparent, interest-free installment plans fits well with their values of prudent spending and digital convenience. As BNPL services tap into these needs, they meet the financial expectations of millennials and Gen Z and fit seamlessly into the currently established online buying habits. This way, BNPL providers who could successfully appeal to the preferences and behaviors of millennials and Gen Z have been positioned to capture a substantial share of their growing market.

Integrating Artificial Intelligence to Fuel Market Expansion

Including AI in credit scoring for BNPL creates a new frontier in assessing consumer creditworthiness. This innovative method uses a broad set of data sources, integrating traditional credit histories with unconventional indicators of online shopping habits, social media patterns, and other digital behaviors. Such diversified data enables AI-driven algorithms to give a completer and more precise outlook of the individual's financial behavior and repayment capability. In January 2024, PayPal Holdings Inc. announced six new innovations to revolutionize commerce through AI-driven personalization for merchants and consumers. The newest innovations include a reimagined PayPal checkout experience, Fastlane by PayPal, Smart Receipts, PayPal advanced offers platform, a reinvented PayPal consumer app, and Venmo's enhanced business profiles.

It is in this full-spectrum fashion that the providers of BNPL can execute their credit checks far more precisely in a timelier manner, hence giving higher approval rates for those consumers who are financially responsible but perhaps don't have as extensive a traditional credit history. Besides, AI algorithms are constantly improving and learning from changing consumer trends and market conditions to achieve greater accuracy and relevance in credit assessments. This dynamic capability can thus improve risk management and provide an avenue for creating more flexible and personalized financing options. Hence, AI in BNPL credit scoring processes strengthens the overall effectiveness of risk assessment and enriches the customer experience toward greater alignment of financial services with individual needs and behaviors.

Online Segment to Dominate the Market Share

The online segment has driven the growth of Japan BNPL market. Such a shift is primarily led by the growth in e-commerce and consumers, especially millennials and Gen Z, wanting to conduct digital transactions. The convenience of online shopping, along with embedded BNPL options in online retail platforms, is driving consumers toward easy facilitation of such payment solutions in day-to-day lifestyle transactions. BNPL services online enjoy seamless integrations with e-commerce, allowing users to access flexible payment options instantly and at the point of shopping. This digital convenience, together with the growth in mobile and online shopping, places the online BNPL segment in a good position to be at the forefront of the market in Japan.

BNPL services are extended offline, but they do not enjoy the same level of access and growth as their online counterparts. In July 2024, Money Forward, Inc. and Sumitomo Mitsui Card Company, Limited reached a basic agreement regarding the capital and business alliance, such as establishing a joint venture for retail business. The partners aimed to resolve the financial issues of a bigger pool of customers by maximizing the values of Money Forward's various B2C financial services.

Kanto to Dominate the Japan BNPL Market

The buy now, pay later market in Japan has been majorly buoyed by Kanto, primarily including Tokyo and Yokohama. This prominence can be attributed to the fact that this area is the country's economic and financial hub. Similarly, Tokyo's status as the capital contributes to this dominance due to its enormous economic influence, high population density, and wide reach of digital infrastructure. In Kanto, retail is at an advanced stage, with many stores and online outlets already integrated with BNPL services in their mode of payment.

The increasing rate of internet penetration and technological development in Kanto contributes significantly to adopting BNPL solutions, addressing a technology-savvy clientele that seeks flexibility and convenience enabled by these services. The fact that many e-commerce platforms and fintech companies exist in the region contributes favorably to an environment where innovative financial services can be created. In this regard, Kanto dominates the market in volume and the standard of BNPL growth throughout the country. Kanto's economy, technological infrastructure, and consumer demand influence the country's BNPL market growth.

Future Market Scenario (FY2025 - FY2032F)

Buy now pay later services will create a positive trend in the market due to a faster foray into online sales, increasing the share of such solutions from BNPL as consumers seek more credit for financial elasticity at such times.

With the tech-savviness of Japan's population and high digital engagement, BNPL providers are likely to see continued adoption, especially from a young consumer base that values the convenience and financial flexibility by BNPL.

Regulatory evolution is expected to lead to more standardized practices and a clearer framework from BNPL operations that might challenge providers with ensuring fair practices, but at the same time may help attract more customers who seek secure and reliable financial services.

Key Players Landscape and Outlook

BNPL has become increasingly popular with consumers seeking more flexibility and interest-free instalments. As more customers seek out BNPL solutions for their purchases, BNPL services are being integrated by retailers to give their offering more enthusiasm and appeal to a wider customer base. This trend, though gradually growing, promises enormous opportunities for BNPL providers. Due to this, BNPL providers have started considering strategic collaborations, partnerships, and merger and acquisition deals accordingly. A well-fitted strategy will enable BNPL firms to further expand into additional market verticals, integrate their solutions onto the major retail platforms, and get access to the advanced technologies, thus positioning them strongly in a highly competitive market segment. It means that BNPL will continue its growth in Japan, as witnessed by higher adoption across different retail segments and innovations that will keep driving the evolution of this market.

In June 2024, Atome Financial, Southeast Asia's leading digital financial technology platform and a key business in the Advance Intelligence Group, has obtained a three-year term loan facility from EvolutionX Debt Capital, EvolutionX and is, in parallel, working with a syndicate of investors to fully exercise the accordion feature of the facility, which can top up the total amount up to USD 100 million.

Table of Contents

1. Project Scope and Definitions

2. Research Methodology

3. Executive Summary

4. Voice of Customer

• 4.1. Product and Market Intelligence
• 4.2. Mode of Brand Awareness
• 4.3. Factors Considered in Purchase Decisions
  • 4.3.1. Ease of Use and Accessibility
  • 4.3.2. Interest Rates
  • 4.3.3. Repayment Terms
  • 4.3.4. Payment Flexibility
  • 4.3.5. Security
• 4.4. Customer Support
• 4.5. Consideration of Privacy and Regulations

5. Japan Buy Now Pay Later (BNPL) Market Outlook, FY2018-FY2032F

• 5.1. Market Size Analysis & Forecast
  • 5.1.1. By Value
• 5.2. Market Share Analysis & Forecast
  • 5.2.1. By Channel
    • 5.2.1.1. Online
    • 5.2.1.2. POS
  • 5.2.2. By Enterprise
    • 5.2.2.1. Large Enterprises
    • 5.2.2.2. Small and Medium Enterprises
  • 5.2.3. By Demographic
    • 5.2.3.1. Generation X
    • 5.2.3.2. Generation Y
    • 5.2.3.3. Generation Z
  • 5.2.4. By End-use
    • 5.2.4.1. BFSI
    • 5.2.4.2. Retail
    • 5.2.4.3. Healthcare
    • 5.2.4.4. Leisure and Entertainment
    • 5.2.4.5. Travel and Tourism
    • 5.2.4.6. Others
  • 5.2.5. By Region
    • 5.2.5.1. North [Hokkaido and Tohoku]
    • 5.2.5.2. Central [Kanto and Chubu]
    • 5.2.5.3. South [Kansai, Chugoku, Shikoku, Kyushu, Okinawa]
  • 5.2.6. By Company Market Share Analysis (Top 5 Companies and Others - By Value, FY2024)
• 5.3. Market Map Analysis, FY2024
  • 5.3.1. By Channel
  • 5.3.2. By Enterprise
  • 5.3.3. By Demographic
  • 5.3.4. By End-use
  • 5.3.5. By Region

6. Demand Supply Analysis

7. Value Chain Analysis

8. Porter's Five Forces Analysis

9. PESTLE Analysis

10. Interest Rate Analysis

11. Market Dynamics

• 11.1. Market Drivers
• 11.2. Market Challenges

12. Market Trends and Developments

13. Case Studies

14. Competitive Landscape

• 14.1. Competition Matrix of Top 5 Market Leaders
• 14.2. SWOT Analysis for Top 5 Players
• 14.3. Key Players Landscape for Top 10 Market Players
  • 14.3.1. ZOZO Inc.
    • 14.3.1.1. Company Details
    • 14.3.1.2. Key Management Personnel
    • 14.3.1.3. Products and Services
    • 14.3.1.4. Financials (As Reported)
    • 14.3.1.5. Key Market Focus and Geographical Presence
    • 14.3.1.6. Recent Developments/Collaborations/Partnerships/Mergers and Acquisition
  • 14.3.2. APaylater Financials Private Limited (Atome)
  • 14.3.3. Block Inc.
  • 14.3.4. Klarna Bank AB (publ)
  • 14.3.5. PayPal Holdings Inc.
  • 14.3.6. Smartpay K.K.
  • 14.3.7. Sumitomo Mitsui Card Company Limited (Atokara)
  • 14.3.8. Net Protections Inc.
  • 14.3.9. LINE Pay Corporation
  • 14.3.10. AEON Financial Service Company Limited

Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.

15. Strategic Recommendations

16. About Us and Disclaimer

List of Tables

• Table 1. Pricing Analysis of Products from Key Players
• Table 2. Competition Matrix of Top 5 Market Leaders
• Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)
• Table 4. About Us - Regions and Countries Where We Have Executed Client Projects

List of Figures

• Figure 1. Japan Buy Now Pay Later Market, By Value, In USD Billion, FY2018-FY2032F
• Figure 2. Japan Buy Now Pay Later Market Share (%), By Channel, FY2018-FY2032F
• Figure 3. Japan Buy Now Pay Later Market Share (%), By Enterprise, FY2018-FY2032F
• Figure 4. Japan Buy Now Pay Later Market Share (%), By Demographic, FY2018-FY2032F
• Figure 5. Japan Buy Now Pay Later Market Share (%), By End-use, FY2018-FY2032F
• Figure 6. Japan Buy Now Pay Later Market Share (%), By Region, FY2018-FY2032F
• Figure 7. By Channel Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 8. By Enterprise Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 9. By Demographic Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 10. By End-use Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 11. By Region Map-Market Size (USD Billion) & Growth Rate (%), FY2024