If you attended our recent webinar on Japan, you already know that the customer experience in Japan is off to a good start. In the webinar Peter Weigand shared the results of a recent METI Consumer Survey. In April they asked five thousand Japanese energy consumers about the retail energy sector in their newly deregulated landscape.
Japan’s Competitive Landscape Shows Excellent Growth Potential
The survey found that over 60% of the existing consumer base showed a desire to switch their electricity supply away from utility, but the primary reasons hindering them from doing so were:
· Pricing and contract information was too confusing for them to understand.
· Sign-up and enrollment forms were too complicated and time consuming to fill in.
· There were not enough reasons for them to switch over from utility to non-utility supply.
Among the consumers who had already switched their energy supply and thus, done away with utility for their energy needs, over 98.5% of them were extremely happy with their decision and their overall experience with the switch.
Surprisingly, adults between the age of 50 to 60 are the most active age group to switch their supply. The second most active age group is adults who are 60 and above.
The highest switching rates in Japan were observed in major cities. The least aware population was in rural parts of southern Japan, where despite highest margins, minimum switch rates were noticed.
The METI survey is a great tool for prospective retailers planning their market entry. Insights from this research can help devise solutions for both active and under served markets, allowing retailers quick entry into the market and gain a strong foothold in the region.
Contact Znalytics for a FREE Demo or to learn about our experiences in Japan and talk about potential avenues for swift market entry.
We’re ready for Japan, are you?