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Overall luxury goods experienced a significant contraction due to the imposition of a state of emergency in Japan during April and May. During this time, non-essential stores closed or reduced their operating hours. The closure of the country's borders also led to the complete devastation in inbound tourist flows, while local consumers also limited their movements within country in a bid to avoid catching and transmitting the virus. Even after stores re-opened, the majority of Japanese consumers...
Euromonitor International's Luxury Goods in Japan report offers a comprehensive guide to the size and shape of the Luxury Goods market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market and their effects on Luxury Goods retailing along with the development of consumers' shopping patterns. Forecasts to 2025 illustrate how the market is set to change
Product coverage: Experiential Luxury, Fine Wines/Champagne and Spirits, Personal Luxury, Premium and Luxury Cars.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report?
Get a detailed picture of the Luxury Goods market; Pinpoint growth sectors and identify factors driving change; Understand the competitive environment, the market's major players and leading brands; Use five-year forecasts to assess how the market is predicted to develop.TABLE OF CONTENTS
List OF CONTENTS AND TABLES
EXECUTIVE SUMMARY
COVID-19 impact on luxury goods
COVID-19 country impact
Company response
Retailing shift
What next for luxury goods?
MARKET INDICATORS
Table 1 Number of High Net Worth Individuals (HNWI): 2015-2020MARKET DATA
Table 2 Sales of Luxury Goods by Category: Value 2015-2020 Table 3 Sales of Luxury Goods by Category: % Value Growth 2015-2020 Table 4 Inbound Receipts for Luxury Goods by Country of Origin: Value 2015-2020 Table 5 NBO Company Shares of Luxury Goods: % Value 2015-2019 Table 6 LBN Brand Shares of Luxury Goods: % Value 2016-2019 Table 7 Distribution of Luxury Goods by Format and Category: % Value 2020 Table 8 Forecast Sales of Luxury Goods by Category: Value 2020-2025 Table 9 Forecast Sales of Luxury Goods by Category: % Value Growth 2020-2025DISCLAIMER
GLOBAL MACROECONOMIC ENVIRONMENT
GLOBAL INDUSTRY ENVIRONMENT
SOURCES
Summary 1 Research SourcesKEY DATA FINDINGS
2020 IMPACT
Pandemic has strong negative impact on experiential luxury
Implementation of safety and strict hygiene controls marketed to provide reassurance and boost footfall
Luxury hotels set to outperform non-luxury
RECOVERY AND OPPORTUNITIES
Anticipated category rebound dependent on further waves of the virus and vaccines
Longer-term shifts in consumer habits as consumers become more home centric
Positive longer-term outlook once pandemic recedes
CATEGORY DATA
Table 10 Sales of Experiential Luxury by Category: Value 2015-2020 Table 11 Sales of Experiential Luxury by Category: % Value Growth 2015-2020 Table 12 NBO Company Shares of Experiential Luxury: % Value 2015-2019 Table 13 LBN Brand Shares of Experiential Luxury: % Value 2016-2019 Table 14 Forecast Sales of Experiential Luxury by Category: Value 2020-2025 Table 15 Forecast Sales of Experiential Luxury by Category: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
Postponement of Tokyo Olympic Games in 2020 means players unable to start paying off large investments in new properties
Government endeavours to stimulate the category through incentives and discount schemes
"Workations" and glamping gather momentum in 2020 since COVID-19
RECOVERY AND OPPORTUNITIES
Tokyo's hosting of the Olympics and Paralympics set to boost industry sales
Competition from outbound travel and working from home could prove challenging for industry players
Broader tourist profile expected drawn by major international events
CATEGORY DATA
Table 16 Sales in Luxury Hotels: Value 2015-2020 Table 17 Sales in Luxury Hotels: % Value Growth 2015-2020 Table 18 Sales in Luxury Hotels by Country of Origin: % Value 2015-2020 Table 19 NBO Company Shares in Luxury Hotels: % Value 2015-2019 Table 20 LBN Brand Shares in Luxury Hotels: % Value 2016-2019 Table 21 Forecast Sales in Luxury Hotels: Value 2020-2025 Table 22 Forecast Sales in Luxury Hotels: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
Some demand shift from foodservice to home consumption boosts luxury whiskies
Ban on social gatherings hinders fine Champagne especially after rise in VAT during 2019
Industry players respond to the pandemic in a number of ways, including the launch of mini bottles for consumption outdoors
RECOVERY AND OPPORTUNITIES
Sales rebound quickly boosted by longer-term changes in lifestyles
New working from home trend set to boost category sales
Industry players respond to changes in consumer lifestyles
CATEGORY DATA
Table 23 Sales of Fine Wines/Champagne and Spirits by Category: Value 2015-2020 Table 24 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2015-2020 Table 25 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2015-2019 Table 26 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2016-2019 Table 27 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2015-2020 Table 28 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2020-2025 Table 29 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
Sales contract to a nine-year low as the pandemic forces some players to resort to discounting
Car sharing while previously popular suffers due to the pandemic
Growing popularity of contactless options as a result of changing consumer behaviour
RECOVERY AND OPPORTUNITIES
Government forms new taskforce to help the automotive industry survive the economic fallout from the pandemic
More electric vehicle manufacturers are expected to venture into premium and luxury cars
Growing preference for online purchases among time-starved consumers
CATEGORY DATA
Table 30 Sales of Premium and Luxury Cars: Value 2015-2020 Table 31 Sales of Premium and Luxury Cars: % Value Growth 2015-2020 Table 32 NBO Company Shares of Premium and Luxury Cars: % Value 2015-2019 Table 33 LBN Brand Shares of Premium and Luxury Cars: % Value 2016-2019 Table 34 Forecast Sales of Premium and Luxury Cars: Value 2020-2025 Table 35 Forecast Sales of Premium and Luxury Cars: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
Strong contraction for personal luxury though wealthy consumers sustain demand
Personal luxury players develop digitalisation to offset store closures or reduced opening times
Personal luxury brands expand their coverage in Japan
RECOVERY AND OPPORTUNITIES
Focus switches to experiences as foreign tourists shop for luxury within their own countries
After initial bounce back in 2021, sales of personal luxury likely to take time to recover
Increasing need for creativity among personal luxury players
CATEGORY DATA
Table 36 Sales of Personal Luxury by Category: Value 2015-2020 Table 37 Sales of Personal Luxury by Category: % Value Growth 2015-2020 Table 38 NBO Company Shares of Personal Luxury: % Value 2015-2019 Table 39 LBN Brand Shares of Personal Luxury: % Value 2016-2019 Table 40 Distribution of Personal Luxury by Format: % Value 2015-2020 Table 41 Forecast Sales of Personal Luxury by Category: Value 2020-2025 Table 42 Forecast Sales of Personal Luxury by Category: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
The onset of the pandemic has a significant detrimental impact on designer apparel and footwear (Ready-to-Wear)
Postponement of major life events dampens category sales in 2020
Store launches and new brand innovations continue despite challenges of COVID-19
RECOVERY AND OPPORTUNITIES
After initial rebound in 2021, sales set to slow for the remainder of the forecast period
Switch in consumer demand towards designer apparel for the outdoors rather than for socialising
Virtual influencers set to become more important
CATEGORY DATA
Table 43 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2015-2020 Table 44 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2015-2020 Table 45 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2015-2019 Table 46 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2016-2019 Table 47 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2015-2020 Table 48 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2020-2025 Table 49 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
Store closures and plummeting tourist arrival numbers lead to contraction in value sales, while mask-wearing creates demand for suitable luxury eyewear
Ingenuity among industry players provide virtual eye test services, while mask-wearing boosts sales of small lenses and coloured spectacle frames
Luxottica retains lead and taps into "Made in Japan" trend
RECOVERY AND OPPORTUNITIES
Strong recovery in 2021 dependent on ongoing presence of the virus around the globe
Growing opportunities for sunglasses
Luxury eyewear brands could face competition from smart glasses and associated media hype
CATEGORY DATA
Table 50 Sales of Luxury Eyewear by Category: Value 2015-2020 Table 51 Sales of Luxury Eyewear by Category: % Value Growth 2015-2020 Table 52 NBO Company Shares of Luxury Eyewear: % Value 2015-2019 Table 53 LBN Brand Shares of Luxury Eyewear: % Value 2016-2019 Table 54 Distribution of Luxury Eyewear by Format: % Value 2015-2020 Table 55 Forecast Sales of Luxury Eyewear by Category: Value 2020-2025 Table 56 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
Steep contraction for luxury jewellery
Industry players enhance and develop operational strategies in a bid to remain competitive in this challenging environment
Ongoing demand for luxury jewellery among high socioeconomic groups
RECOVERY AND OPPORTUNITIES
Plummeting sales due to temporary decimation in consumer base and store closures
Jewellery to commemorate the unprecedented health and economic crisis
Strong focus on men's luxury fine jewellery and new trends in pearls for men
CATEGORY DATA
Table 57 Sales of Luxury Jewellery by Category: Value 2015-2020 Table 58 Sales of Luxury Jewellery by Category: % Value Growth 2015-2020 Table 59 NBO Company Shares of Luxury Jewellery: % Value 2015-2019 Table 60 LBN Brand Shares of Luxury Jewellery: % Value 2016-2019 Table 61 Distribution of Luxury Jewellery by Format: % Value 2015-2020 Table 62 Forecast Sales of Luxury Jewellery by Category: Value 2020-2025 Table 63 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
Decimation in sales as COVID-19 restrictions enforce store and border closures
New brand and store launches go ahead despite COVID-19
Government handout stimulates sales of classic luxury leather goods
RECOVERY AND OPPORTUNITIES
After initial growth spike, sales growth drops to pre-pandemic levels
Category sales compete with rise in subscription, sharing and rental services
Despite initial spike, longer-term recovery likely
CATEGORY DATA
Table 64 Sales of Luxury Leather Goods: Value 2015-2020 Table 65 Sales of Luxury Leather Goods: % Value Growth 2015-2020 Table 66 NBO Company Shares of Luxury Leather Goods: % Value 2015-2019 Table 67 LBN Brand Shares of Luxury Leather Goods: % Value 2016-2019 Table 68 Distribution of Luxury Leather Goods by Format: % Value 2015-2020 Table 69 Forecast Sales of Luxury Leather Goods: Value 2020-2025 Table 70 Forecast Sales of Luxury Leather Goods: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
Contraction of luxury portable consumer electronics due to pandemic
Luxury wearables struggles to achieve the right balance between high technology and luxury
TAG Heuer retains lead
RECOVERY AND OPPORTUNITIES
Decimation in inbound tourism during the pandemic further hinders category growth
Competition from non-luxury alternatives set to hinder category expansion
More investment in e-commerce as industry players endeavour to offset store closures and shorter opening hours
CATEGORY DATA
Table 71 Sales of Luxury Portable Consumer Electronics by Category: Value 2015-2020 Table 72 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2015-2020 Table 73 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2015-2019 Table 74 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2016-2019 Table 75 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2015-2020 Table 76 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2020-2025 Table 77 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
Decimation of inbound tourism leads to plummeting sales of luxury timepieces
Industry players adopt a variety of strategies to maintain customer relationships and boost sales
Potential threat from rental watch players due to economic fallout from COVID-19
RECOVERY AND OPPORTUNITIES
Industry players set to respond to significant alteration in consumer demand
Threat posed by digitalisation
Potential longer-term changes in lifestyles including work habits in the aftermath of the pandemic
CATEGORY DATA
Table 78 Sales of Luxury Timepieces by Category: Value 2015-2020 Table 79 Sales of Luxury Timepieces by Category: % Value Growth 2015-2020 Table 80 NBO Company Shares of Luxury Timepieces: % Value 2015-2019 Table 81 LBN Brand Shares of Luxury Timepieces: % Value 2016-2019 Table 82 Distribution of Luxury Timepieces by Format: % Value 2015-2020 Table 83 Forecast Sales of Luxury Timepieces by Category: Value 2020-2025 Table 84 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
Decline in luxury writing instruments and stationery as the pandemic wipes out gifting occasions and tourism
Growth in digitalisation creates competition as well as opportunities for players in luxury writing instruments
Demand for exquisite Japanese fountain pens falters due to COVID-19
RECOVERY AND OPPORTUNITIES
Prolonged nature of the pandemic could delay category recovery
Working from home, stimulated by the pandemic, likely to lead to permanent changes in working practices
Despite digitalisation, demand for luxury writing instruments remains present
CATEGORY DATA
Table 85 Sales of Luxury Writing Instruments and Stationery: Value 2015-2020 Table 86 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2015-2020 Table 87 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2015-2019 Table 88 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2016-2019 Table 89 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2015-2020 Table 90 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2020-2025 Table 91 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
Decimation in tourism due to border closures, shorter opening hours and store closures negatively impact category sales
Growing shift to maximise e-commerce sales and digital experiences to compensate for store closures
Despite challenges the category witnesses store openings, new brand launches and new partnerships
RECOVERY AND OPPORTUNITIES
Category recovery dependent on relaxation of travel restrictions and further outbreaks
Change of focus among industry players towards domestic consumers and cross-border e-commerce
Ongoing development of e-commerce in response to COVID-19 and changing consumer expectations
CATEGORY DATA
Table 92 Sales of Super Premium Beauty and Personal Care by Category: Value 2015-2020 Table 93 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2015-2020 Table 94 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2015-2019 Table 95 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2016-2019 Table 96 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2015-2020 Table 97 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2020-2025 Table 98 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2020-2025