More Japanese women buy jewellery to reward themselves, and they prefer platinum

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More Japanese women buy jewellery to reward themselves, and they prefer platinum

20 November, 2018

More Japanese women buy jewellery to reward themselves, and they prefer platinum

Japan’s economy has experienced a 6-year growth with consumers no longer being pessimistic, and women in particular are again showing interest in purchasing jewellery. Unlike the earlier economic boom era, this interest shows a new side in the society: women are making self-purchases with the disposable income earned through being a part of the workforce. Jewellery has become a necessity, and particularly platinum, a metal of choice for all age groups, gains demand as women turn 30 years of age.

PGI Japan completed a survey on jewellery with 600 women between the ages of 20 and 53 who own at least one piece of non-bridal jewellery. The survey reveals that half of women in their 40s and the Bubble Generation say they purchased "3 or more" jewellery for themselves, and 81% in their 20s want to buy jewellery to reward themselves. 95% of them "would appreciate to receive platinum jewellery": 76% of the 20s found "wearing it gives me power", and 84% of the 40s and the Bubble Generation "like the hue" of the metal.

According to Hisako Hankinson, CEO of PGI Japan K.K., Japan has the highest per capita platinum jewellery consumption in the world, with platinum being used in over 90% of engagement rings and over 80% of wedding bands. No other country shows such appreciation for platinum jewellery, which perhaps comes from platinum’s subtle yet solid presence matching the sensibility of the Japanese people.

"Looking back at the 30 years of the current Heisei era as we approach the dawning of a new Imperial era in May, Japan’s economy has experienced a 20-year-long stagnation followed by the recent 6-year growth. The consumers are no longer pessimistic, and women in particular are again showing interest in purchasing jewellery. Unlike the earlier economic boom and the bubble economy era, this interest shows a new side in the society: women are making self-purchases with the disposable income earned through being a part of the workforce. The number of dual-income houses are now over twice as many as single-income households with women as homemakers. Jewellery has become a necessity with women entering
the workforce, and particularly platinum, a metal of choice for all age groups, gains demand as one turns 30 years of age.

The survey had some revelations, such as the high intention of those in the 20s to acquire jewellery and the 30s making self-reward purchases. Be it the office or home, or at important occasions, platinum’s everlasting lustre elegantly accentuates the wearer. Platinum is the precious metal of choice for women having their own styles not swayed by trends or age."

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