Japan duty free sales boom
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Japan duty free sales soared in the first quarter of the current financial year as Chinese tourist ranks swelled.
Major duty free retailers have reported sales on the mainland soared 20 per cent or more year on year, with brands preferred by Chinese shoppers performing the best.
Japanese government figures show inbound tourists into the nation soared 47 per cent in the first six months of the 2015 calendar year – to 11 million. In the whole of 2014, inbound visitors totalled just 13.4 million.
Sales of jewellery – especially gold jewellery – and watches lead the growth in a virtual mirror image of the experience of Hong Kong retailers, demonstrating clearly how the cashed up Chinese have changed their preferred duty free shopping destination.
Leather goods are reportedly selling well and airport boutiques are experiencing healthy turnover increases.
Japan’s government scrapped visas for Chinese mainlanders early this year, which has definitely helped fuel the boom.
Questions & Answers
Q.Which specific product categories are driving the significant growth in duty free sales?
Which specific product categories are driving the significant growth in duty free sales?
Sales of jewellery, particularly gold jewellery, and watches are leading the growth. Leather goods are also reportedly selling well, contributing to the overall increase in turnover for airport boutiques.
Q.What is the primary reason for the increase in duty free sales in Japan?
What is the primary reason for the increase in duty free sales in Japan?
The boom is largely due to a significant increase in Chinese tourists visiting Japan. The Japanese government also scrapped visas for Chinese mainlanders earlier this year, which further fueled this growth.
Q.How many inbound tourists visited Japan in the first half of 2015 compared to the previous year?
How many inbound tourists visited Japan in the first half of 2015 compared to the previous year?
Inbound tourists to Japan reached 11 million in the first six months of the 2015 calendar year. This is a substantial increase compared to the 13.4 million visitors recorded for the whole of 2014.