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Oct
2015

Relocation of luxury; Japan may replace Hong Kong

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On Aug. 6th, the Japanese media reported that luxury stores are moving back to Japan, as the opening of first floor luxury stores in Ginza peaked in 2014. The anti-corruption policies in mainland China, and democratic protests in Hong Kong have caused Japan to again become popular among Chinese travelers, and the growing number of wealthy Japanese consumers who between them shifted the eyes back to purchasing luxury brands back in Japan. The number of families with over 100 million JPY increased to 1.01 million in 2013, and brought the Japanese market back onto the radar of luxury brands such as Versace, who left Japan in 2009 and will soon open a large store in Ginza.

Influenced by the protest in Hong Kong and several incidents between Hong Kong protesters and Mainland China travellers, the Chinese consumers who have purchased 46% of the world’s luxury products in the past, have now shifted their interest. According to National Tourism Administration, Chinese outbound tourists grew to over 100 million in 2014. Although 70% of their travel destinations still included Hong Kong and Macau, South Korea and Japan which both saw an increase in visitors of over 40%.


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