Luxury jewellery, luxury leather goods and luxury timepieces have been seeing strong growth due to the benefits of rising stock prices under the COVID-19 situation, rising brand value triggered by repeated price hikes, and customers’ confidence in asset value and resale value, especially amongst the middle classes and wealthier consumers. These categories are expected to continue their growth in 2023 onwards.
A key factor for luxury eyewear to return to the pre-COVID-19 level will be the resurgence of travel and leisure. In mid-2022, domestic travel regained some momentum due to the lifting of restrictions and the long national holiday in May (Golden Week).
In the future, personal luxury players are expected to develop business models that utilise the metaverse and NFTs. Gucci, which unveiled its first NFT work in May 2021, also announced in February 2022 that it had purchased land for an NFT game called The Sandbox, which allows users to create various structures in the metaverse.
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Understand the latest market trends and future growth opportunities for the Personal Luxury industry in Japan with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Personal Luxury industry in Japan, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This is an aggregation of Designer Clothing and Footwear (Ready-to-Wear), Luxury Eyewear, Luxury Jewellery, Luxury Timepieces, Luxury Leather Goods, Luxury Writing Instruments and Stationery, Luxury Portable Consumer Electronics and Super Premium Beauty and Personal Care.See All of Our Definitions
This report originates from Passport, our Personal Luxury research and analysis database.
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