【Japan】Survey on the Jewelry Market Conducted (2024)

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Editor’s Note

This article summarizes key findings from a recent Yano Research Institute survey on Japan’s domestic jewelry market, detailing segment trends, competitive landscape, and future outlook.

国内宝飾品（ジュエリー）市場規模推移と予測
Survey Overview

Yano Research Institute Ltd. (President: Takashi Mizukoshi) has conducted a survey on the domestic jewelry market in Japan, revealing trends by product segment, market entrant activities, and future prospects.

1. Summary of Survey Results

The domestic jewelry retail market size for 2024 is forecasted to be 1.0953 trillion yen, a 104.7% increase compared to the previous year.

“The main factors are the continued rise in precious metal prices and yen depreciation leading to price increases by market entrants, resulting in higher purchase unit prices, as well as a surge in demand for jewelry accompanying the increase in inbound tourists (visiting foreign tourists).”

The domestic jewelry retail market size for 2025 is forecasted to be 1.0514 trillion yen, 96.0% of the previous year’s figure. While there has been a rebound in consumption post-COVID-19, particularly among affluent consumers, in recent years, it is believed that even among the affluent, demand for jewelry will stabilize due to prolonged inflation, and the overall market will enter another period of stagnation.

2. Key Topics
Signs of Recovery in Bridal Jewelry

In the latter half of 2023, bright signs emerged for bridal jewelry. The reason is attributed to increased sales prices due to rising material costs. The acquisition rate of wedding rings among marrying couples exceeds 90% (Yano Research Institute estimate). Therefore, there is a tendency to purchase even as sales prices rise. Furthermore, post-COVID-19, increased opportunities to go out and meet people are seen as positively impacting the number of marriages.

“On the other hand, there is also a shift in consciousness, particularly among young people, towards feeling less necessity for marriage. As lifestyles are being reconsidered post-COVID-19, it is anticipated that the number of couples not bound by the formal institution of marriage will increase, necessitating a boost in demand for the bridal jewelry industry.”
Survey Framework

1. Survey Period: September 2023 to August 2024
2. Survey Subjects: Jewelry specialty store chains, department stores, watch & jewelry stores, and companies from other industries entering the jewelry market (e.g., kimono fabric retailers), imported jewelry brand companies, etc.
3. Survey Method: Combined use of direct interviews (including online) by our specialist researchers, telephone hearings, and mailed questionnaires.

Definition of the Domestic Jewelry Retail Market in this Survey:
In this survey, “jewelry” primarily refers to ornaments made from materials such as gold or platinum, using diamonds, precious stones, pearls, etc., including jewelry watches, and some products made from silver or semi-precious stones. The market size is calculated based on retail sales value.

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⏰ Published on: November 01, 2024