Yen depreciation and high inflation drive Japanese citizens to buy jewelry as a safe haven, resulting in record jewelry sales in the first half of the year

智通财经2026/07/24 07:06

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Inflation remains high and the Japanese yen continues to weaken, leading Japanese citizens to rush to purchase luxury jewelry as a means of preserving value and hedging against risk, which has significantly boosted jewelry sales. In the first half of 2026, major department stores in Japan saw year-on-year growth of 19% in sales of gemstones, precious metals, and works of art, reaching 330 billion yen—the highest figure for the same period since statistics began in 2008.
With the depreciation of the yen and rising core prices, consumer preferences have shifted, and people are now more willing to purchase jewelry assets with stronger value-preservation capabilities.

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Yen depreciation and high inflation drive Japanese citizens to buy jewelry as a safe haven, resulting in record jewelry sales in the first half of the year

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