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Inbound Tourist Spending at Japanese Department Stores Hits Record High, Reaching 59 9 Billion Yen

Inbound Tourist Spending at Japanese Department Stores Hits Record High, Reaching 59 9 Billion Yen
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Why are luxury goods like watches and paintings enjoying healthy sales in pandemic Japan?

news Why are luxury watches, paintings enjoying healthy sales amid pandemic in Japan? The Mainichi FUKUOKA Luxury goods such as jewelry watches and paintings are enjoying brisk sales at department stores and other retailers in Japan. Despite concerns of a shrink in consumer spending amid the pandemic-triggered recession, sales of watches priced over 10 million yen (about $96,000) are on the up at some stores. But how are consumer habits changing in the pandemic? We have more customers buying luxury watches than before, said Masakazu Yukizaki, president of jewelry watch retailer Gem Castle Yukizaki, based in the west Japan city of Fukuoka. At the height of the late December 2020 Christmas shopping season when the Mainichi Shimbun visited its Fukuoka store, one of 16 outlets, groups of customers could be seen sizing up the watches on display.

Mainichi shimbunHideo kumanoMasakazu yukizakiAkane yamaguchiHiroshi hisanoCastle yukizakiLehman brothersIwataya mitsukoshi departmentJapan department store associationKyushu business news departmentDaiwa institute of researchGem castle yukizakiIwata ya mitsukoshiDaiwa instituteNew yearEconomic research department

Why are luxury watches, paintings enjoying healthy sales amid pandemic in Japan?

Why are luxury watches, paintings enjoying healthy sales amid pandemic in Japan? January 9, 2021 (Mainichi Japan) This photo shows luxury watches sold at the Gem Castle Yukizaki store in Fukuoka s Chuo Ward, on Dec. 25, 2020. (Mainichi/Hiroshi Hisano) FUKUOKA Luxury goods such as jewelry watches and paintings are enjoying brisk sales at department stores and other retailers in Japan. Despite concerns of a shrink in consumer spending amid the pandemic-triggered recession, sales of watches priced over 10 million yen (about $96,000) are on the up at some stores. But how are consumer habits changing in the pandemic? We have more customers buying luxury watches than before, said Masakazu Yukizaki, president of jewelry watch retailer Gem Castle Yukizaki, based in the west Japan city of Fukuoka. At the height of the late December 2020 Christmas shopping season when the Mainichi Shimbun visited its Fukuoka store, one of 16 outlets, groups of customers could be seen sizing up

Mainichi shimbunMainichi hiroshi hisanoHideo kumanoMasakazu yukizakiAkane yamaguchiHiroshi hisanoCastle yukizakiLehman brothersIwataya mitsukoshi departmentJapan department store associationKyushu business news departmentDaiwa institute of researchGem castle yukizakiChuo wardIwata ya mitsukoshiDaiwa institute