Capture the hearts of affluent women! ~ Insights from the creator of "celebrity" and "elegant women"

A series exploring business opportunities arising from the "massification" of the affluent.

This time, we present a roundtable discussion featuring Hiromi Sogo, Editor-in-Chief of the fashion magazines '25ans' and 'Richesse' (both published by Hearst Fujingaho), which enjoy tremendous support from affluent women, alongside Masashi Koyama and Kaori Ishii from Dentsu Inc.

Building on the findings from the survey exploring the attitudes and consumption behaviors of affluent Japanese women introduced last time, they discussed how to capture the hearts of affluent women.

*For the survey, "affluent individuals" were defined as those with household assets (net assets excluding debts like mortgages) of ¥100 million or more, or those with household annual income of ¥20 million or more.

From left: Ms. Koyama (Dentsu Inc.), Ms. Sogo (Hearst Fujingaho), Ms. Ishii (Dentsu Inc.)

 

◆A Trust-Based Relationship Like an Overseas Sales Representative

Koyama: According to research, approximately 42% of '25ans' readers are affluent, while the average annual income of 'Richesse' readers reaches 29 million yen. It's no exaggeration to say you're creating content specifically for the affluent. What do you prioritize in this approach?

Sogo: First, staying true to the worldview cultivated since our founding. While "user-first" is common today, '25ans' has been a "magazine that sees its readers' faces" since its launch in the 80s, prioritizing building trust with them.

Koyama: It's not a magazine with millions of readers, is it?

Sogo: Exactly. In a way, it has aspects of a niche magazine. That's precisely why we must sincerely engage with what those readers seek and put it into practice.

Readers want to be glamorous yet conservative, or embrace a princess style while still desiring protection from a dominant man. By continuously evolving the worldview cultivated through such accumulated details alongside the times, while steadfastly embodying the underlying "authentic luxury" without wavering—that's what I believe builds trust with our readers.

Koyama: Precisely because we feature high-priced items, we must be a trustworthy medium. In that sense, we might be akin to department store sales representatives.

Sogo: That's right. Especially in regional areas, information is more limited compared to Tokyo. So, we're truly grateful that '25ans' is valued as a reliable source of information in that environment. We approach our magazine production with the conviction that everything we feature must always be trustworthy and up-to-date.

◆ "Celebrities," "Hong Kong Madams," "Elegant Women"... Phrases for the Affluent Reflect the Times

Ishii: While all women, not just the affluent, desire inner beauty, do you notice any characteristics unique to the affluent among your readers?

Sogo: Our readers are serious about being women. They spare no effort in self-improvement. It's not just about spending money; they invest heavily because they're fully committed to becoming their ideal selves. With 25ans, too, many readers don't just skim through—they read every page thoroughly.

Koyama: Do some readers archive issues?

Sogo: Quite a few do. We also get many inquiries about products featured in back issues.

Koyama: When customers engage so enthusiastically, it makes the creators feel they must respond properly, doesn't it?

Sogo: Absolutely. Our luxury magazine thrives on trust with our readers, so we can't do anything to undermine that. It's just like any relationship—once you make someone feel betrayed, it's over.

If you create with the mindset of "Readers will settle for this much, right?", that attitude will absolutely come through to them. What matters most is continuing to create content with the same passion and sincerity as our readers.

◆Striving for Happiness is Like a Sports Club!

Koyama: I believe the reason for such passionate support is that you've consistently engaged with the seriousness of affluent women and their desired ideals, providing information worthy of them.

By the way, 25ans also hosts incredibly diverse events, like dog shows and art appreciation gatherings in kimono. Where does that inspiration come from?

Sogo: That too stems from aligning with our readers' diverse lifestyles. Many are quite social.

Koyama: Affluent people seem to love socializing. They've had mom friends and such for ages, and some even feel like they're competing within that community (laughs).

Sogo: It's the complete opposite of a lifestyle where you don't care about clothes or personal appearance and just laze around at home. You need nice clothes to go out, and you have to cultivate your inner self too. Of course, I think there's also a competitive spirit within the community.

In a way, it's like a sports club mentality. That desire not to lose and the drive to improve create a positive cycle.

Ishii: In this survey, someone answered "My life has not a single cloud," and I thought it was amazing they could say that with such certainty (laughs).

Sogo: Even if there were clouds, they have the drive to push through them. The fact that 98% answered "Yes" to "Do you think you're happy?" is a sign of their vitality, right? They discipline themselves to be able to say "Yes" without hesitation and strive daily.

Ishii: Perhaps it's precisely because they possess competitiveness and are brimming with vitality that they can shine so brightly.

Sogo: That feeling of not wanting to lose within a community is necessary too, as long as it works as a positive force rather than a negative one. Engaging with society is important, and wanting to shine here is a good thing. Though it can be scary if taken too far (laughs).

Koyama: That's why providing opportunities for them to shine, like the '25ans' event, is such an effective form of communication for these women who are constantly pushing each other to excel.

◆Precisely because it's an inward-looking era, we want to energize the affluent

Koyama: There's talk that in recent years, the wealthy have become more mainstream due to factors like Abenomics. Ms. Sogo, having interacted with affluent individuals for many years, what changes have you observed?

Sogo: Back in the day, even 25ans would feature the world's aristocracy and glamorous figures almost every month. But now, if we go too far, readers get turned off. With regional features too, we used to cover places in faraway countries, but lately it's shifting to closer destinations like Hawaii or Singapore.

Koyama: Closer destinations, and conservative ones at that.

Sogo: It's gradually becoming more inward-looking and subdued, isn't it? I'm often invited as press to glamorous events overseas, and when I return to Japan, I feel a unique stillness.

Koyama: Is this a change distinct from maturation?

Sogo: There are mature aspects, but it's subdued, isn't it? I think one reason is aging. In Japan, if you're older and wear flashy fashion, there's a tendency to think it's inappropriate for your age, so people become more restrained.

Then there's the spread of fast fashion. In the past, you couldn't buy good quality items without paying a decent price, but now you can get passable things cheaply, so maybe people aren't putting as much effort into fashion anymore.

Back in the day, you'd feel embarrassed going to Ginza without nice clothes, but that's not the case anymore. Plus, the products on display are becoming increasingly generic.

Koyama: There is a sense of being less formal about it.

Sogo: Precisely because we're in such an inward-looking era, I want people with more leisure to enjoy fashion and lifestyle. I believe that's where 25ans comes in.

Enjoyment doesn't just impact the economy; it also contributes to Japan's national strength. Beautiful people and a beautiful country can be seen as indicators of prosperity.

Times swing back like a pendulum. If the economy improves further, people who previously didn't care much about clothing might start experimenting with style. Recently, I sense a return of glamour among younger generations, with more "Elegant Lady"-style outfits appearing.

　　　　　

◆The "Sophisticated, Traditional Japanese Woman Type" Holds the Key to Consumption

Koyama: This survey categorizes affluent women into five distinct clusters. Which cluster piques your interest, Mr. Sogo?

Sogo: I'm particularly interested in Cluster 1, the "Refined, Traditional Japanese Beauty Type." Rather than simply loving fashion, they own kimonos passed down through generations or diamonds that hold asset value to be passed on to future generations.

Cluster 1: The Subtle, Traditional Japanese Woman Type

Ishii: Cluster 1 tends to be more interested in travel than fashion.

Sogo: When invited to overseas events, I sometimes fly business class. Observing the elderly passengers, I've seen some dressed in what looks like hiking gear. Perhaps when traveling, they prioritize comfort and functionality over fashion.

Koyama: If they move, consumption moves too, right?

Sogo: Yes. I think they'd move quite a bit. They have potential.

Koyama: What kind of communication approaches could work?

Sogo: Creating opportunities is key. Women especially can become interested at any age if given the right trigger.

In fact, I once had a consultation from a woman I knew, like Cluster 1, who said, "I've become an executive and want to pay more attention to my attire, but I don't know where to start."

So, I had a professional stylist guide her on coordination. Later, she emailed me, delighted, saying, "I no longer struggle with what to wear in the morning, and I've discovered a new version of myself."

Koyama: That definitely builds confidence, right?

Sogo: I agree. Clothing changes a woman's mood and builds confidence. I think Cluster 1 just hasn't awakened yet; their potential is high.

Koyama: Providing that realization is key, isn't it? Specifically, what kind of trigger do you think would resonate?

Sogo: They have time and are interested in self-improvement, right? How about inviting them to seminars or events?

There are various types—people interested in jewelry but not clothing, or those wanting to tweak their makeup. We could organize tailored events for them.

Ishii: Since this cluster tends to care about beauty and health, proposals that take that a step further to enhance their appeal would resonate. Rather than shifting from negative to neutral, proposals that build from zero to positive seem promising.

Sogo: I think they're definitely particular about life quality. But they probably don't like flashy, ostentatious things. For fashion, let them experience high-quality, age-appropriate, grounded chic pieces. The price is high, but you absolutely see the difference when you look in the mirror.

Koyama: Having one great piece can then lead to exploring how to coordinate with it, right?

Sogo: Exactly. Everything connects. If we can spark that realization, it opens opportunities to expand into various areas.

◆Using Appearance as a Weapon: The "Full-Throttle, Life-Celebrating Type"

Koyama: How about Cluster 2, the "Full-Throttle, Life-Celebrating Type"? Are these the people we discussed earlier, the ones who are fighting?

Ishii: Dual-income couples who give their all to work, fashion, and social contributions. They're also proactive about education and asset management.

Cluster 2: Full-Throttle, Life-Celebrating Type

Sogo: Working women will only increase from here, and women's careers will grow accordingly. It's one thing when a woman is the lone voice in an all-male boardroom, but as more women enter those spaces, I think they'll inevitably start consciously considering each other's appearance.

Koyama: So a competitive spirit will emerge.

Sogo: Of course, substance matters most in those settings, but appearance also becomes a tool. I think more career women will pay attention to their attire.

Koyama: This is a bit off-topic, but when I asked people in Southeast Asia, "What does beauty mean to you?" many answered, "It's a passport to success." Pretty honest, huh? (laughs)

Sogo: That's so Japanese—thinking it but not saying it. In our culture, being too honest can seem tacky. In that sense, if you're too aggressive in communication, people will pull back, so finding the right balance is key.

◆ Move the Hearts of the "Unconscious/Hidden Type"!

Koyama: Honestly, among the five clusters, I think the hardest to move is Cluster 5: the "Unconscious/Hidden Type."

Ishii: These are people who aren't aware they're affluent. You see this type a lot among the daughters of business owners. nbsp;                        

Cluster 5: Unaware/Hidden Type

Sogo: So she's the president's daughter, but she doesn't like that flashy, glamorous image.

Ishii: She isn't aware of her own wealth and doesn't even know her cards are corporate cards. The things she buys herself are perfectly ordinary. Expensive items come from her parents or grandmother. It seems tough to influence spending here.

Sogo: She never had a chance to become independent. But I think she harbors anxiety about what would happen if her parents died.

Koyama: Coaching to build confidence seems like a good fit for her.

Sogo: Gather parents worried about their daughter's future and introduce coaching.

Koyama: If things continue like this, she might remain naive and get deceived by a bad guy. So, let's change her mindset.

◆ Are "Fluffy & Protected" and "Sparkly & Trend-Chasing" styles meant to downplay masculinity?

Ishii: Cluster 3's "Fluffy & Protected Type" and Cluster 4's "Sparkly & Trend-Chasing Type" feel exactly like 25ans readers. Sparkly, princess-style, and cute.                                                      &nbsp nbsp;                                                       & nbsp;                        

Cluster 3: Fluffy & Protected Type

                

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Cluster 4: Sparkly, Trendy Type

Sogo: Actually, people in Clusters 3 and 4 tend to have more masculine personalities. Precisely because they're straightforward, they use clothing to add sweetness or curl their hair to tone down their masculinity.

Ishii: So that's why they have this desire to be protected by a dominant man, right?

Sogo: They probably like reliable types who treat them like princesses. Men who look aggressive but always prioritize their wives. To accept someone so sparkly, you need a big heart.

Ishii: So herbivores aren't a good match?

Sogo: I don't think they're a good match for sparkling women. For Cluster 2 career types, a younger herbivore might work. Someone who can easily join girls' nights out and gently support his drunk wife.

Koyama: Either way, men need that big heart (laughs).

◆People who become wealthy are strong with numbers

Koyama: Sogo-san, you've interacted with many wealthy individuals. Have you noticed anything about their spending habits?

Sogo: This relates more to our 'Richesse' readers, but the mindset of the wealthy is easier to understand if you subtract two digits.

For example, when a wealthy person buys a 10 million yen piece of jewelry, even if we think of it as 1 million yen (one digit lower), it's still a huge purchase for us. But if you think of it as 100,000 yen (two digits lower), it's not impossible to decide on the spot. That's why, if they don't like it, they won't buy it even if it's 10 million yen, and if they really love it, they'll buy it even if it's 100 million yen.

Koyama: What surprised me when interviewing wealthy individuals is how well they remember the exact prices of their purchases.

Sogo: Wealthy people are good with numbers, aren't they? I think they can keep their wealth precisely because they can accurately calculate what's profitable and what's not.

Plus, they indulge in fashion and luxury within their means, never touching the principal. I imagine the wealthy have their own anxieties too, with all sorts of people approaching them.

When invited to a home party, they'd wrap up leftovers in plastic wrap to save them. That kind of solid daily discipline is essential for lasting success, isn't it?

Koyama: They're not spendthrifts, are they?

Sogo: Especially affluent women rarely splurge. They don't hesitate to spend on things that benefit them or that they find worthwhile.

Koyama: This applies to any business, but ultimately, it's crucial to provide something that matches their ideal image and values.

Sogo: Even within the affluent class, lifestyles vary widely, so I think there's a lot of business potential.

Koyama: Exactly—education, social contributions, travel too. The aging population actually means expanded potential for affluent business in the silver market, right?

Sogo: I definitely think so. Especially for those in Cluster 1 who haven't fully refined their preferences yet, there are countless opportunities to provide what they potentially desire.

Changing the subject slightly, the high jewelry industry is booming now. I heard that at an event held by a certain brand, an elderly lady purchased a diamond worth hundreds of millions of yen. This kind of purchase is about leaving assets to future generations in a form other than cash, right?

If laws like inheritance tax change in the future, the jewelry industry will likely see even more customers seeking asset management solutions.

Koyama: For certain affluent individuals, that kind of communication could be a possibility.

◆What moves mass affluent consumers is the feeling of "You are special"

Koyama: On the other hand, this survey revealed that mass affluent individuals have a strong desire to be seen as individuals and not treated as a mass.

Sogo: I think that's a pretty important point. Everyone likes to be told "You are special," and ambitious affluent women especially so.

As mentioned earlier, I believe there's a significant desire to shine within their community. Attending study groups, lessons, or sports clubs often has friendship-building as a secondary goal behind the primary purpose.

Ishii: Pets have that aspect too, right? Walking them allows owners to exchange greetings and build community.

Koyama: It might be similar to the class-based communities in Western countries. The concept of "class" itself isn't something people in Japan tend to be very conscious of.

Sogo: Generally, class isn't something people consciously think about, but actually, many women do have that awareness. That's precisely why being seen as the most important person is incredibly gratifying.

Koyama: That's what we're tapping into, right?

Sogo: The relationship with sales representatives is the prime example of this. They don't just sell clothes; they make restaurant reservations, and for some people, they even offer life advice. That level of being seen as the most important person, of having someone care so much, is what builds trust.

Conversely, younger generations often dislike pushy salespeople. Many are uncomfortable with face-to-face interactions.

Koyama: Communication methods might be changing.

Sogo: Precisely. For the younger generation, there's huge potential in communication via the internet and social media.

Koyama: That's definitely true. Moving forward, we want to advance research in these areas and explore every possibility for affluent client business.