High spending from the increased number of overseas visitors is stimulating the consumption of luxurious goods including jewellery.
- Japan’s economy is working to maintain modest recovery leading up to the 2020 Olympics with a GDP growth of 0.6%. The exceptionally warm winter benefitted jewellery and record numbers of inbound tourists benefitted metropolitan retailers and service providers, especially department stores and non-bridal. Platinum jewellery sales outperformed total jewellery, and platinum jewellery volume increase 2.7% in 2015.
marketwired.com, Apr. 6, 2016
- Japan experienced an increase in the number of international tourists to Japan, which helped to boost sales of jewellery
euromonitor.com, Jan. 2014