Department-store jewellery sales are up a fifth, and the gold price explains most of it
The art, jewellery and precious-metals line at Japan's department stores has grown by 16% to 22% in every month of 2026, the best floor in the building, according to the Japan Department Stores Association. Set it against a gold price that is up a third in yen and against tax-free tickets that grew while customer counts did not, and most of that growth is price, not more buyers.
Japan's department stores sold ¥57.5bn of art, jewellery and precious metals in July, 16.7% more than a year earlier on a like-for-like store basis, according to the Japan Department Stores Association's monthly report published on 25 August, which floortok covered on the day. It was the seventh consecutive month of growth above 16% for the line: 17.7% in January, 18.0% in February, 20.8% in March, 19.6% in April and again in May, 22.3% in June and 16.7% in July. No other product line in the association's table comes close. Clothing grew 3.9% in July, food 0.2%, and gift vouchers fell 7.2%.