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Why are luxury goods like watches and paintings enjoying healthy sales in pandemic Japan?

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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 Shimbun , Hideo Kumano , Masakazu Yukizaki , Akane Yamaguchi , Hiroshi Hisano , Castle Yukizaki , Lehman Brothers , Iwataya Mitsukoshi Department , Japan Department Store Association , Kyushu Business News Department , Daiwa Institute Of Research , Gem Castle Yukizaki , Iwata Ya Mitsukoshi , Daiwa Institute , New Year , Economic Research Department , Dai Ichi Life Research , லெஹ்மன் சகோதரர்கள் , இவாத்ாயா மிட்ஸ்யூகோஶி துறை , ஜப்பான் துறை கடை சங்கம் , கையஶு வணிக செய்தி துறை , டைவா நிறுவனம் ஆஃப் ஆராய்ச்சி , டைவா நிறுவனம் , புதியது ஆண்டு , பொருளாதார ஆராய்ச்சி துறை , தாய் ஈச்சதி வாழ்க்கை ஆராய்ச்சி ,

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 ....

Mainichi Shimbun , Mainichi Hiroshi Hisano , Hideo Kumano , Masakazu Yukizaki , Akane Yamaguchi , Hiroshi Hisano , Castle Yukizaki , Lehman Brothers , Iwataya Mitsukoshi Department , Japan Department Store Association , Kyushu Business News Department , Daiwa Institute Of Research , Gem Castle Yukizaki , Chuo Ward , Iwata Ya Mitsukoshi , Daiwa Institute , New Year , Economic Research Department , Dai Ichi Life Research , Latest Articles , The Mainichi , லெஹ்மன் சகோதரர்கள் , இவாத்ாயா மிட்ஸ்யூகோஶி துறை , ஜப்பான் துறை கடை சங்கம் , கையஶு வணிக செய்தி துறை , டைவா நிறுவனம் ஆஃப் ஆராய்ச்சி ,