JadeSync

Japanese flea market apps are acquiring more overseas users in recent months as second-hand Japanese toys, such as action figures and trading cards, are attracting more buyers from the United States, China and elsewhere on the back of a weaker yen.

Cross-border transactions are becoming more popular with flea market apps operated by Mercari Inc., Yahoo Japan Corp., and Rakuten Group Inc., as the yen’s depreciation has given more purchasing power to overseas buyers seeking well-preserved Japanese toys.

Mercari said its cross-border transactions in February grew 3.2 times from a year ago due to the weaker yen and an increase in its partners operating e-commerce sites that overseas buyers can use to purchase goods listed on the Mercari flea market app.

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Rakuten Rakuma, a flea market app operated by Rakuten, said its transaction with overseas users in the same month almost quintupled. A flea market app operated by Yahoo Japan also observed a similar trend.

According to Mercari, character toys, including those from Hello Kitty and action figures of characters from the Neon Genesis Evangelion animation series, are particularly popular. There is also a sizeable demand for Pokemon trading cards and goods based on female idol groups, it said.

Transactions for expensive goods are also on the rise, with Chanel designer brand bags and watches made by Seiko Watch Corp. and Citizen Watch Co. being actively traded, Mercari said.

The app operator says it is not uncommon for rare trading cards to fetch more than 1 million yen (US$7,100), with many action figures selling for tens of thousands of yen.

In response to rising demand, Mercari said it will ramp up sales in mainland China, the United States, Europe and Taiwan. E-commerce firm From Japan Ltd., which became a Mercari partner in February, offers descriptions of the items listed on its app in 10 languages, including English and Chinese.

According to a study by Japan’s industry ministry, Chinese consumers spent 2.1 trillion yen (US$15 billion) in 2021 on cross-border e-commerce with Japan, up 9.7 per cent from a year ago. Such transactions from American consumers rose 25.7 per cent to 1.2 trillion yen (US$8.6 billion).

Industry experts say there is still plenty of room for growth for cross-border transactions as the overseas middle-class population with more disposable income to spend on hobbies is increasing.

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