Japan jewelry market size is 8.02bil$
The size of the Japanese jewelry retail market in 2022 is 1,022.7 billion yen(8.02bil$), 106.3% of the size of the previous year, surpassing 1 trillion yen for the first time in 14 years. In 2020, the year the corona crisis started, sales dropped to 819.5 billion yen due to store closures, but recovered in just two years. The reason for this is that the income of wealthy people, who are the main customers of jewelry, did not decrease even during the pandemic. Rather, it is thought that opportunities for overseas travel and eating out have decreased, and they have been diverted to purchasing jewelry. In addition, there are many people whose income has increased due to high stock prices, high real estate prices, and various subsidies. In 2022, the wealthy elderly, who had refrained from going out until now, actively went to events, etc., and young people also went on trips and went to commercial facilities to purchase jewelry.