Jewelry Market in Japan: Key Research Findings 2018
Research Outline
- Research period: January to December, 2017
- Research objects: Jewelry specialized store chains, market players including department stores, luxury shops handling watches and jewelries, Kimono shops, and imported jewelry brand companies
- Research methodologies: Face-to-face interviews and surveys through telephone by the specialized researchers, and mail-in questionnaire
What are jewelries in this research?
The jewelries in this research apply to products made of gold or platinum, some decorated with diamonds, gems and pearls. Also included in this category are those jewelry products and expensive watches all or part of them made of silver or with semiprecious stones.
Summary of Research Findings
- Domestic Jewelry Retail Market in 2017 Slightly Rose to 946.8 Billion Yen, 100.6 % on Y-o-Y Basis
The domestic jewelry retail market in 2017 has been raised to 946.8.billion yen, 100.6% of the size of the previous year, meaning that the market has managed to escape from the declining tendency that had lasted for two years in the row. As the stock price gradually being on the rise since the beginning of the year, together with the sign of the economic recovery becoming obvious, the jewelry market also has recovered little by little. By the latter half of the year the price of gold has risen, too, and the Christmas shopping season has welcomed a wide range of people purchasing the products.
- Inbound Tourism Demand Kept Steady
Though the shopping spree by foreign tourists has quietened down, inbound tourism demand (demand from the foreign visitors) has sure spread in 2017. With the number of foreign tourists continues increasing year by year, the consumption of jewelries primarily at department stores and of overseas brands has grown as well. In particular, there was an expanding demand of proxy purchase by Chinese people visiting or living in Japan on behalf of the people in China by means of SNS including WeChat.
- Domestic Jewelry Retail Market Projected to Stably Achieve 1,001.7 Billion Yen by 2020
The domestic jewelry retail market in 2020 is projected to achieve 1,001.7 billion yen in 2020. While there is no expecting of rapid expansion, the market is still likely to remain stable, because, in the status where the domestic business sentiment is considered to improve, last-minute spending surge can be expected prior to increase of the consumption tax scheduled in 2019 as well as the domestic consumption and inbound tourism demand both being promising to rise toward the Tokyo Olympic/Paralympic Games in 2020.
- Figure 1: Transition of Size of Jewelries and Luxury Products Market
