Personal accessories in 2024: The big picture
Personal accessories in Japan is set to experience dynamic retail current value growth in 2024, driven by a combination of inbound tourism and domestic demand, particularly from affluent consumers. For instance, in luggage, there has been a noticeable increase in additional purchases made by inbound tourists during their stay, reflecting a revival in travel.
2024 key trends
The Japanese market is witnessing a trend of polarisation, particularly in urban areas, where the purchasing power of affluent consumers remains robust. Luxury items and high-priced goods are thriving as new consumer segments emerge.
Competitive landscape
Luxury brands are thriving in Japan, supported by a combination of a weakened yen, strong inbound tourism, and robust domestic demand. Notably, bags and luggage is experiencing significant value growth, with brands such as Hermès leading the way.
Retailing developments
The evolution of retail e-commerce in Japan is experiencing a slowdown, influenced by the recovery of inbound tourism and the strong performance of luxury brands. As consumer behaviour shifts, brands are recognising the importance of maintaining direct connections with their customers, which has led to an increased focus on direct-to-consumer strategies.
What next for personal accessories?
Personal accessories is expected to maintain solid but slowing retail current value growth in Japan in the forecast period. Meanwhile, there are likely to be challenges achieving volume growth due to Japan’s declining population, prompting businesses to explore new markets and adapt their offerings to stimulate growth.
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Overview:
Understand the latest market trends and future growth opportunities for the Personal Accessories industry in Japan with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
- Bags and Luggage
- Jewellery
- Watches
- Writing Instruments
If you're in the Personal Accessories industry in Japan, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Personal Accessories in Japan report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Personal Accessories in Japan?
- Which are the leading brands in Personal Accessories in Japan?
- How significant is tourism in determining sales and demand for Personal Accessories in Japan?
- How are COVID-19 and global recession impacting demand for Personal Accessories in Japan?
- In the wake of COVID-19, how soon can Personal Accessories be expected to recover? Where are the opportunities for growth now?
- Where is future growth expected to be most significant?
Personal Accessories in Japan
Personal accessories in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for personal accessories?
DISCLAIMER
Bags and Luggage in Japan
KEY DATA FINDINGS
Inbound and domestic demand support growth
Hermès Japon Co Ltd shows a strong performance
Rising disaster awareness and emergency bags
Despite the declining birth rate, school bags remain a hot topic in Japan
The second-hand market as a boost and a threat to bags and luggage
AI luggage to become a guide for visually impaired users?
Jewellery in Japan
KEY DATA FINDINGS
Department stores regains momentum with events and inbound demand
Lab-grown diamonds struggle with consumer understanding, and this segment is still developing
Richemont Japan Ltd continues to lead
Impact of move away from marriage
Creating new demand in response to population decline: Key role of men’s demand
Digital trends in jewellery, including smart rings
Traditional and Connected Watches in Japan
KEY DATA FINDINGS
Decrease in volume, but value increase: Shift to higher unit prices continues
Connected watches faces challenges to growth in Japan, but Huawei rises
Brands compete for loyalty through consumer engagement
Falling population challenges growth, while inbound demand will minimise decline
Shift towards higher price segments in a trend of polarisation
Coexistence of traditional watches and connected watches due to different roles
Writing Instruments in Japan
KEY DATA FINDINGS
New product launches support value growth despite maturity
Mitsubishi Pencil Co Ltd continues to lead
Customer engagement/loyalty key to engage with and retain consumers
Inbound tourism will help support demand in a category seeing volume decline
Targeting super niche segments
Public and private sectors unite for resource recovery
The following categories and subcategories are included:
Personal Accessories
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- Backpacks
- Business Bags
- Crossbody Bags
- Duffel Bags
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- Non-Luxury Handbags
- Luxury Handbags
- Wallet and Coin Pouches
- Other Small Bags
- Luggage
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- Costume Jewellery
- Fine Jewellery
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- Basic Mechanical Watches
- Mid Mechanical Watches
- High Mechanical Watches
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- Basic Quartz Analogue Watches
- Mid Quartz Analogue Watches
- High Quartz Analogue Watches
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- Basic Quartz Digital Watches
- Mid Quartz Digital Watches
- High Quartz Digital Watches
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- Basic Quartz Analogue Watches
- Basic Quartz Digital Watches
- Basic Mechanical Watches
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- Mid Quartz Analogue Watches
- Mid Quartz Digital Watches
- Mid Mechanical Watches
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- High Quartz Analogue Watches
- High Quartz Digital Watches
- High Mechanical Watches
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- Basic Activity Watch (Analogue)
- Mid Activity Watch (Analogue)
- High Activity Watch (Analogue)
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- Basic Activity Watch (Digital)
- Mid Activity Watch (Digital)
- High Activity Watch (Digital)
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- Basic Smart Wearables
- Mid Smart Wearables
- High Smart Wearables
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- Colouring
- Markers and Highlighters
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- Graphite Pencils
- Mechanical Pencils
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- Ball Point Pens
- Fountain Pens
- Roller Ball Pens
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- Pen Inkwells and Refills
- Pencil Lead Refills
- Other Writing Accessories
Personal Accessories
Personal Accessories refers to a diversified group of personal products including Bags & Luggage, Jewellery, Watches and Writing instruments.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Personal Accessories research and analysis database.
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