Japan'S Luxury Market Is Improving Step By Step.

2010/7/15 10:07:00 33

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According to a latest McKinsey Co report, the luxury market in Japan is improving gradually.

McKinsey to general

Consumer

And professionals were surveyed.

Finally, although Japanese consumers are more cautious about buying luxury goods and are more sensitive to price than ever, one thing is certain: Japanese consumers are slowly waking up from their deep sleep.

McKinsey said,

Luxury goods in Japan

The market will not "grow substantially" soon, but it is worth emphasizing that the confidence of professionals and consumers has improved substantially over the past year.

The report interviewed executives from 15 luxury companies, more than 80% of them said that this year's performance was better than that of 2009.

Even 33% of executives expect the company's annual sales to grow by more than 10%.

85% of the surveyed executives said that sales in 2009 were lower than in 2008.

This year,

Mckinsey

They also surveyed 750 general consumers who bought luxury goods between April 2008 and March 2009, and reported that consumer confidence is gradually rising.

According to the report, 49% of consumers in 2009 said: "luxury goods are no longer a special thing as they used to be."

This year, consumers who chose it dropped to 39%.

Last year, 21% of Japanese consumers believed that ordinary goods that could afford them could meet their requirements well, so there was no need to buy luxury goods.

This year, consumers who chose this option dropped to 12%.

In May this year, the survey of Japan's clothing and accessories sales fell 15.9% to 894 billion 600 million yen (9 billion 570 million US dollars) last year.

Sales growth in 2010 is expected to be less than 1%.