Danny Chou has been working at a trading house in Tokyo during the day but the real money maker is his side hustle.
The 36-year-old sells Japanese vintage record players and game consoles on eBay Inc. to people in the US and beyond, making as much as ¥600,000 ($4,199.7) each month. It’s so promising that last month he quit his day job to focus on expanding his sales business.
Chou is one of an increasing number of people in Japan who are selling goods to foreigners via eBay. Luring in the would-be traders is the weak yen, which fell to the lowest level in 38 years against the US dollar in July, boosting the money made in foreign currency sales. While the yen has recovered sharply, it’s still trading at historically low levels. Japanese workers are also looking for ways to make extra money as they contend with persistent inflation for the first time in a generation.
“At my age, I think about marriage, kids, or buying a house,” said Chou who is originally from China and became a permanent Japanese resident in 2022. “But with Japanese wages, it’s really difficult to make that into a reality.”
Sales of items listed by Japanese sellers on the platform saw double-digit growth in 2023, which is the most recent data available, in part thanks to the weak yen and rising interest in Japanese culture according to a report by eBay Japan. While the company declined to provide exact figures, a spokesperson said there’s been surging demand for products related to Anime and Manga.
Ebay also opened an authentication center in Tokyo last December for luxury handbags and wallets, marking the first such launch in Asia.
Navigating Currency and Rules
Inflationary pressure means it’s not just low-income groups looking to supplement their incomes, said Yukari Suzuki who specializes in labor and international economics at Kyoritsu Women’s University. The post-pandemic shift to a more flexible work culture has also driven the growth in side jobs.
In Japan, many companies used to stop employees from having a second job, but recently there’s been a push by the government for workplaces to allow it to help mitigate labor shortages.
“Working styles have been diversifying thanks to the government and corporations,” said Suzuki. “And it’s not just for financial benefits, some people might be seeking to gain new skills from side jobs potentially to change their main occupations.”
People in Japan with a Second Job Jumped After COVID
A push by the government to allow second jobs fueled popularity
Source: Ministry of Internal Affairs and Communications
Note: The data is published every 5 years
Rena Makino, 22, is supporting her parents’ eBay business from the US to offset rising costs during her study abroad. She believes her female and youthful perspective gives them an edge in the marketplace. The best-selling products in their store include the viral Sonny Angel figurines and hair masks.
Yet, exporting products on eBay is no easy game, with intricate platform regulations, export controls, and rising competition among Japanese sellers. That has created a demand for seminars and learning material including several related books published.
Chou has spent roughly ¥2 million on online courses where he learned how to navigate regulations on the platform to avoid his account being banned.
Yuuki Shishido, a 17-year eBay veteran, hosted a gathering event in July where around 40 eBay sellers gathered from across the nation to meet him and fellow participants.
Shishido has been selling Anime merchandise, handling around 1,500 deals in some months with his business partners, and saw a jump in sales last year, in part thanks to the weakening yen.
“It felt like a bubble seeing the yen at this level,” says Shishido who survived a time when the currency was as strong as 75 yen per dollar.
Among the participants was Yoshinori Fujii, who came to the event from Hyogo prefecture in western Japan. Fujii checks the exchange rate every morning as a weaker yen has helped his sales by around 10% in the 18 months to July.
The recent rally in the yen has made him “disappointed,” he said, and he hopes to get tips from veteran sellers like Shishido to navigate currency volatility.
Even if the yen continues to strengthen, he wants to keep selling on eBay.
“On eBay, while I am sleeping I’m making sales,” Fujii said.