— Latest update: June 2025 —
Japan remains a significant jewellery market, with retail sales reaching 1.130 trillion yen in 2024, the highest level in over a decade. This growth reflects a rebound driven by strong stock market performance, rising property values, and increased purchasing by affluent consumers. Despite long-term demographic challenges such as a shrinking population and lower marriage rates, the market has been supported by surging gold prices, higher unit sales values, and a rise in purchases for investment purposes. Foreign demand also plays a key role, with inbound tourism supporting strong sales of imported jewellery brands. As inbound visitor numbers continue to grow, the domestic jewellery retail market is forecast to expand further in 2025, reaching 1.207 trillion yen.
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