Personal luxury experienced a strong contraction in 2020 due to store closures under the state of emergency in April and May as well as long-term border closures as this category generally thrives on sales from inbound tourists. However, the bleak circumstances in 2020, the category is expected to benefit from a more positive outlook over the forecast period.
The Decorté Concierge Channel enhanced its contents to offer an alternative experience to in-store consultation. The YouTube channel received many positive reviews from viewers and millions of views.
During spring 2020, Hermès launched a line of lipstick with the intention of creating objects for women of all ages and lifestyles with a strong focus on aesthetics. Each lipstick bears the Hermès library seal with the packaging offering a combination of matte metal and satin metal as well as a lacquered coating to provide a luxury finish as well as functionality.
While a strong recovery is expected in 2021 after the sharp drop in 2020, personal luxury players will need to be mindful of demand from both inbound arrivals as well as domestic consumers over the forecast period when the virus recedes and the country’s borders open again. In terms of inbound arrival flows, it remains uncertain when vaccines will be widely available.
Recovery of personal luxury sales in Japan is expected to take some time due to anticipated longer-term lifestyle and work style shifts that could impact luxury fashion items. This is likely to impact designer apparel and footwear that consumers previously purchased to wear in business meetings or when socialising with others.
Given the challenging circumstances created by the global pandemic and which are likely to remain in place for some time, personal luxury players are expected to be increasingly creative and active in their attempts to engage with consumers who will be adapting to new lifestyles and demonstrating changes to their values. Digital shifts as well as increased time spent at home, both socialising and working, will be especially important in the personal luxury category in Japan over the forecast period.
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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 report originates from Passport, our Personal Luxury research and analysis database.
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