The New Rich
There is an expanding market for the increasingly wealthy population–especially women in their thirties and forties who are willing to spend money on luxury. Customized spa services are one example, which can easily become twice the price of an average spa visit. Money is not an issue for these women but instead the quality of personalized counseling on traditional Chinese medicine is more crucial.
However crazy this may sound, the increase in demand for diamonds with more than 3 carats (80 times the cost of an average 0.3 carat engagement ring) supports the argument for the trend mentioned above. What before only found themselves in the hands of wealthy 60 year olds, are now finding a new market between the ages of thirty and forty.
The publishing industry has caught on and found this population to be a profitable target and have published a successful catalogue that features everything from limited edition jewelry to real estate outside of Japan.
Even more, due to the style of networking among this new wealthy population changing from previous years and there has been an increase in popularity for restaurants that offer catering services have experienced a 40 percent increase in profit within these last two years. The average budget when inquiring for these catering services is usually 20 thousand yen for one person. This interest for home parties has extended to individuals int
B.A. in International Affairs from the University of Puget Sound in Washington.