Continued Growing Demand for Jewelry in Japan

Japanese shoppers flocked to buy jewelry Photo: Lachlan Hardy

(IDEX Online News) – Sales of precious metals, art and jewelry at Japan’s department stores have been on the rise in March, outpacing the growth of most other consumer categories.

Jewelry and art sales increased 21.1 percent at Japan’s department stores, with demand in the country’s ten largest metros up 21.8 percent year-over-year, according to Japan Department Stores Association.

Total revenues from the category reached 22.75 billion yen ($282 million) in March, according to the association.

In the year after the triple disaster that stuck Japan and cost the lives of thousands, demand for diamonds and jewelry soared, reversing years of continued declines.

Total department store sales in Japan surged 14.1 percent in March, rebounding from a 14.7 percent plunge caused by last year’s disasters.

During the past year, while demand for other item was shrinking, demand for jewelry remained robust, and continued to grow throughout the year.