luxury sales in Japan
According to this article by Reuters journalist Isabel Reynolds, luxury goods sales fell by ten percent in 2009.
And they're expected to fall by another three percent this year. At the same time, regional sales are actually expected to increase by 4 percent.
From the article:
...
A combination of demographics, cultural changes and the price transparency associated with new ways of shopping, such as outlet malls and the Internet, will keep a lid on profits.
But demand will not disappear.
"Will Japan continue to be an attractive luxury goods market?" asked McKinsey's Salsberg. "Yes, it is a huge market. There is still a lot of money there. There is still an appreciation for foreign goods, for European goods and for quality."
This is exactly the sort of trend that our business is based upon. We hope that our small engagement ring business ( Caritas ) will be a part of the push for price transparency mentioned here. We offer buyer education, low prices, and high quality products with an eye for exactly the sort of shift to conscientious luxury shopping this article speaks to.
Ganbarimashou.
