Japanese consumers are famous (or infamous) the world over for their obsession with luxury brands — and as hard data demonstrates, this is definitely no globalized urban myth.
Astonishingly, the Tokyo-based Yano Research Institute found that, in 2005, the luxury goods market in Japan amounted to around 1 trillion yen; while analysts at HSBC in Paris estimate that when vacationers’ shopping is included, Japanese consumers may scoop up as much as 45 percent of all the luxury goods sold worldwide.
Unable to view this article?
This could be due to a conflict with your ad-blocking or security software.
Please add japantimes.co.jp and piano.io to your list of allowed sites.
If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.
We humbly apologize for the inconvenience.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.