Dallas, TX (PRWEB) January 11, 2014
Eyewear remains vigorous although growth slows
Eyewear remained vigorous in retail value growth in 2013, underpinned by continued trading up from spectacles to disposable contact lenses, from single-vision to progressive multifocal lens and from ready-made reading glasses to tailored spectacles. Nevertheless, the overall slowdown in the domestic economy had a negative impact on value growth of eyewear, and, although not very serious, resulted in the value growth of eyewear in 2013 being outperformed by that of 2012.
High myopia rate and rising disposable incomes lead to buoyant growth
The large myopic population, especially among students, resulting from less outdoor activities and excessive use of personal computers, tablets and smartphones, has formed a solid consumer base for eyewear in China. At the same time, increasing disposable incomes and the growing awareness of personal healthcare further fuelled growth of eyewear in 2013. The aging population also strengthened demand for spectacles to correct presbyopia and for ready-made reading glasses.
International players lead in a highly fragmented and competitive market
Eyewear in China is highly fragmented, due to the low entry barriers for frames, for instance. Consumers are generally less brand sensitive about lenses and frames and prefer to shop at well-known optical goods stores for reliable products and service. Multinationals lead, thanks to their premium market positioning and high pricing, catering to the rapidly-growing wealthy population in China. On the other hand, more urban consumers are very aware of brands, and use spectacles as a personal accessories product to accentuate their status.
Complete on China Eyewear Market report is available at http://www.rnrmarketresearch.com/eyewear-in-china-market-report.html.
Healthy growth for eyewear in Singapore in 2013
In 2013, eyewear saw volume and value growth, especially in tandem with the rise in myopia rates in Singapore. Moreover, consumers are increasingly brand conscious, leading to their willingness to purchase more premium brands of eyewear, especially spectacle frames and sunglasses. Eyewear manufacturers have been introducing their range of products with enhanced features to attract consumers, thus leading to the rise in both volume and value sales in 2013.
Premiumisation of eyewear in Singapore
Premiumisation is a common trend amongst consumers in Singapore. With their rising disposable income and brand consciousness consumers are choosing well-known brands. Many optical shops have been offering and increasing their range of premium branded eyewear. Having identified the trend of premiumisation amongst consumers, independent stores have also been offering premium eyewear in neighbourhood areas. In addition, chained optical shops are also expanding to open outlets that especially house more premium brands of eyewear. One example is Alexis Eyewear Boutique, which is operated by Nanyang Optical, catering to consumers who are looking for luxury eyewear.
Consolidated players for eyewear in Singapore
Eyewear in Singapore is concentrated, with major players Johnson & Johnson, Ciba Vision (S), Bausch & Lomb (S), Oculus and CooperVision (S) dominating in contact lenses and Luxottica South East Asia Pte Ltd, Safilo Singapore Pte Ltd, Essilor Singapore, Hoya Medical Singapore and Carl Zeiss Vision Singapore leading in spectacles. Despite having an increase in the number of eyewear brands available in Singapore, the major players are still able to maintain their positions with the introduction of their new products.
Complete on Singapore Eyewear Market report is available at http://www.rnrmarketresearch.com/eyewear-in-singapore-market-report.html.
Browse more reports on Eye Care Industry at http://www.rnrmarketresearch.com/reports/consumer-goods/cosmetics-personal-care/eye-care.
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