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Luxury Goods

Japan is the world’s third largest economy and its consumers are renowned for their strong desire for excellent-quality, precision products. There is therefore no surprise that demand for luxury goods has traditionally been high in Japan, stifled only by economic crises. Now, after 20 years of fluctuating trends during Japan’s bubble economy and the subsequent global financial crisis, confidence is finally being restored by the economic and structural reforms undertaken by the current government, and consumer spending is increasing. Find out more about Japan's luxury goods sector below.

About Luxury Goods

The Japanese luxury market is one of the fastest growing in all of Asia. Increased interest in luxury goods by millennials and foreign tourists are boosting the industry with two-digit growth rates.

Cosmetics & Perfumes

Japan’s cosmetic market is growing at a fast pace, and companies are observing a steady increase in their sales. Japan’s domestic cosmetics market attained a value of 2,471 billion yen in FY2016, an increase of 2.9% relative to the previous year.

Jewellery

Japan is the third largest jewellery market in the world. With a large customer base willing to spend much on precious objects, the Japanese jewellery market is thriving once again.