The path to high value creation in Japan
As suggested by the growing popularity of “quiet luxury,” it is increasingly important to capture the attention of – and provide value to – not only affluent individuals but also everyone who appreciates authenticity. Efforts for high value creation go beyond merely offering expensive products and content; it also involves extracting their essence by incorporating additional information, such as background stories. This approach aims to elevate and enrich the products and content into something truly unique.
“Authenticity” and “immersion” are considered primary ingredients of high added value. Authenticity refers to originality, rather than imitation. Immersion, meaning fully engaging with something, enables individuals to connect to more local and extraordinary experiences. In Japan, culture, traditional industries and nature are particularly likely to become important keywords associated with these concepts. In addition, as rural areas (rather than urban centers) tend to possess more potential appeal linked to these keywords, they not only have the potential to attract tourists but also to fundamentally revitalize their communities.
This leads to an exploration of how regions can incorporate wellness, which is attracting increasing interest from the affluent class, as well as more local content into the context of high value creation, using traditional industries as an example.
Rising awareness of wellness
Since the pandemic, society has developed a growing awareness of wellness, emphasizing the importance of caring for both physical and mental health. This trend seems to be particularly popular among affluent individuals and those who prefer high-value offerings.12 As an example, a recent report by International Luxury Travel Market (ILTM) highlighted wellness and presented data suggesting that the interest in wellness is rising significantly among many wealthy individuals.13
“Nine in ten individuals expressed a desire to improve their health for the future.”
“Health has become a new form of wealth, and many affluent individuals are actively embracing this concept.”
“74% have already incorporated wellness principles into their daily lives, and 61% place greater importance on health since the pandemic.”
The wellness tourism market is expected to continue its rapid expansion, with the total market size projected to reach USD1.04 trillion (approximately JPY210 trillion) by 2027. It represents a promising market and offers content favored by higher-income demographics.
AloJapan.com