Gem and precious metal sales jumped 19% as wealthy Gen Z shoppers and international tourists flood department stores.
Japan’s luxury sector is experiencing a sharp acceleration. Gem and precious metal revenue across major department stores surged 19%, signaling renewed appetite for high-end goods in a market long considered mature and stable. The spike reflects two distinct but overlapping consumer forces reshaping Tokyo and Osaka’s shopping landscape.
Affluent Gen Z shoppers are driving significant momentum, treating luxury acquisitions as status markers and investment pieces rather than indulgences. Unlike previous generations, this cohort gravitates toward precious stones and metals with tangible resale value, favoring heirloom-quality goods over trend-driven logo saturation. Simultaneously, inbound tourism has rebounded with intensity. International visitors, particularly from Southeast Asia and China, are leveraging favorable exchange rates and Japan’s reputation for authentic craftsmanship to make substantial purchases at flagship department stores, where luxury brands cluster and tax-free shopping remains a draw.
Department stores themselves have evolved strategically to capture this dual demand. High-touch curation, artisanal storytelling around provenance, and specialized expertise in gemstones have become competitive advantages against e-commerce and standalone boutiques. The 19% uptick signals that Japan’s luxury infrastructure remains formidable when aligned with actual consumer behavior rather than assumed preferences.
