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Jewelry Market in Japan

As one of the most affluent countries in Asia, you would expect jewelry to big business in Japan. They have their own “Jewelry Day” which takes places annually on November 11 which was the day when “carat” was first authorized as the weighing unit in Japan (1909). The jewelry day campaign has been conducted since 1986 just in time for the winter holiday season.

In Japan, jewelry’s high sales season is in December and January due to the winter gift-giving season (Christmas and Year End). It is said that in December they earn about 20% of their annual sales. Many sales promotions are planned in shops in this season. There are many types of sales channels for jewelry in Japan. Specialty stores for jewelry or watch shops are still major players in the retail business (approximately 55% of the total market share). Major department stores have large jewelry sections which carry large varieties of jewelry, discount stores and even Japanese Kimono retailers.

A representative of the Japan Jewelry Association mentioned that the current jewelry market is at 928 billion JPY (although with an 11.9% decline year-on-year). This market is made up of jewelry with diamonds which has a 47.6 % market share (442 billion JPY), with colored stones 21.4% (198 billion JPY), with pearls 16.5% (153 billion JPY) and with gold 14.5% (134 billion JPY).

Japan has about 8% of the sales share in the world and it is still one of major jewelry markets. Among jewelry sales in Japan, imported jewelry’s share is approx. 33%% of the current total ($231.8 billion JPY). While many Japanese manufacturers are suffering from decreasing sales, many foreign brand and Chinese jewelers are achieving growth. The trend of higher growth in sales for imported jewelry, especially in overseas brands has been growing continuously in the market. Japan Jewelry Association stated that although most retailers have seen a fall,   online sales of jewelry have increased over the past year.

This may be why one new craze is catching on in Japan. “Parts Club” allow consumers to buy small parts of jewelry online in order to create their own custom-made jewelry. Prices start from approx. 1 USD. Their primary consumers are teenagers, women in their twenties and thirties, who have the opportunity to make their own design. Their most popular products include Pendant Necklaces, Earrings, Rings, Bracelets, Hair accessories, Fashion Accessories and even for Cell phones.

http://www.partsclub.jp

Companies looking to expand into the jewelry market in Japan should bear in mind that not only the traditional high end jewelry lines but also companies focusing on more inexpensive jewelry are also gaining appeal whereby consumers can have their own custom-made accessories.

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