is such a strong structural component to demand for
luxury in Japan that is has led some to name it (for now
at least) the world’s only mass-luxury market.
Nevertheless, in recent years famous foreign brands
have taken a hit due mainly to the stagnant economy.
Consumers have tended to concentrate their investment
in luxury on fewer, more expensive items (often in
leather) or in experiences such as Michelin restaurants
or day spas. Especially for apparel, the market has been
embracing cheaper brands such as Uniqlo and H&M,
mixing brands “up and down.”
Luxury buyers, be they male or female, have become
more selective and more empowered.
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