Asia Pacific

Technological advances in 2024 will continue to reshape consumer behaviour. This annual report explores the top five digital shopper trends that will redefine commerce the most in the year ahead. Some of the trends included in this report’s edition…

This report examines inflation levels and drivers globally and in key countries in Q4 2023 and 2024. Global inflation is moderating, although divergence remains among the key economies. Higher volatility in the energy markets and disruption of…

Sunglasses in India is experiencing double digit growth in 2023, attributed to the complete, post-pandemic recovery of travel and mobility within the country. Indeed, in 2023, consumers are engaging in more travel activities, resulting in a notable…

In 2023, spectacles, comprising both spectacle lenses and frames, showcased significant growth. This growth can be attributed to the increasing number of people in India with vision correction needs. The rise in vision correction requirements can be…

The eyewear industry showcased good growth across all categories in 2023. The resurgence of travel, and the post-pandemic increase in outdoor activities and events, have fuelled growth for the category. After a year and a half of home seclusion,…

The post-pandemic return to mobility, with increased instances of outdoor events, and growth in terms of consumer awareness with respect to usage, all combine to facilitate growth in contact lenses in 2023 – maintaining the positive trend observed in…

The continued relaxation of restrictions on international travel introduced to contain the spread of COVID-19 has served to strengthen consumers’ confidence in travelling and boosted cross border travel, which was allowed freely towards the end of…

Consumers in Malaysia got used to wearing spectacles instead of contact lenses during the COVID-19 crisis, when the marked reduction in face-to-face social contact weakened their interest in wearing contact lenses for reasons of appearance and vanity…

The reopening of the market with the removal of COVID-19 related restrictions has impacted eyewear in Malaysia, with mixed developments. The sunglasses category was a prominent beneficiary of the shift towards more normal lifestyles. The resumption…

Consumers in Malaysia are tending to favour frequent replacement lenses over daily disposable lenses for economic reasons. Having been hit by the very high rates of post-pandemic inflation, consumers are facing significant rises in the cost of…

Demand for sunglasses in Thailand continues to recover in 2023, with the category recording another year of double-digit retail volume and value growth. The primary factor contributing to this impressive performance is the resumption of domestic and…

In Thailand, demand for spectacles started to notably rebound in 2022, with retail volume sales fully recovering to pre-pandemic levels in 2023. This recovery can be attributed to several factors, such as a return to previous daily lifestyles and…

Demand for eyewear in Thailand has rebounded rapidly since the reopening of the country following pandemic-related restrictions, with consumers eager to acquire various types of eyewear for different occasions. This is due to an instant resumption of…

In line with the gradual easing of COVID-19 restrictions in Thailand from the beginning of 2022, and their complete removal towards the end of the year, retail sales of contact lenses and solutions demonstrated a significant rebound in 2022. This…

Innovations within the eyewear industry, such as the integration of technology into sunglasses, are having a significant influence on consumer demand in the Philippines. Leading brands such as Ray-Ban are leading the charge, crafting sunglasses with…

The eyewear category of sunglasses is recording dynamic sales growth in 2023 following the lifting of various COVID-19 travel restrictions, leading to the resumption of travel and leisure activities. Consumers in Japan are enjoying greater time…

After high double-digit declines in 2022, demand for sunglasses is improving in 2023 but will struggle to return to pre-pandemic levels over the year. With the end of China’s “zero-Covid” policy, both supply chains and sales activity for sunglasses…

The increasing population in the Philippines is boosting the potential customer base for spectacles. As the population grows, so does the number of individuals requiring corrective eyewear. Spectacles, in particular, are experiencing rising demand…

Since late 2022, various manufacturers and retailers began to announce price increases for spectacles. Leading category player, JINS Inc, announced a 5-13% price increase for its spectacle frames in November 2022, while leading optical goods store,…

While demand for spectacles in China notably decreased in 2022 due to regional lockdowns, the category recorded double-digit growth rates in early 2023. Eyewear is a product that needs to be replaced on a regular basis, so pent-up demand from 2022…

The Philippines' eyewear industry is seeing significant growth in 2023 - a direct result of increased travel and tourism rates. This uptick in tourism was catalysed by an amalgamation of aggressive promotional campaigns led by major airlines and…

Sales of eyewear in Japan are being heavily influenced by unit price increases in 2023, following various unfavourable external conditions impacting production, raw material costs, and shipping of products. Furthermore, increasing labour costs and…

Following the ending of China’s “zero-Covid” policy, overall eyewear is returning to positive growth in 2023, accompanied by a resumption of supply chain and offline activities. On the one hand, the demand that was not met in 2022, due to trade…

The growth of contact lenses in the Philippines is bolstered by increased accessibility. Advances in retail distribution have allowed an increasing number of brands to establish a foothold in the country, making contact lenses readily available to a…

The average unit price of contact lens and solutions is rising in 2023, with many manufacturers forced to increase their overall prices following the impact of the war in Ukraine on production, raw material costs, and shipping. In addition,…

While the growth rate of contact lenses considerably slowed in 2022 compared to the dynamic performance recorded the previous year, both retail volume and current value sales of contact lenses have returned to double-digit growth in 2023. This is…

As COVID-19 restrictions have lifted in South Korea and consumers are returning to their daily routines, demand for sunglasses has recovered in 2023, with the category also recording a third consecutive year of double-digit current value growth.…

Demand for sunglasses continues to grow in 2023, with both value and volume growth higher than 2022 levels. Sunglasses was the most negatively impacted category within eyewear during the pandemic as consumers tightened their spending and were…

Demand for sunglasses is rising, in line with greater mobility outside of the home and the resumption of travel following the reopening of Hong Kong’s border in early 2023. Although domestic sales of sunglasses are expected to decline due to a…

With the prevalence of smartphone use in modern society, consumers of all ages, from young children to adults, are constantly exposed to blue light, which is leading to increasing demand for spectacle lenses with blue light filters. Particularly for…

Demand for spectacles started to improve in 2021 after the decline witnessed in 2020 due to the pandemic. As consumers have resumed their lives and restrictions have eased, sales of spectacles, both in volume and value terms, have recovered and show…

Ageing remains one of the most significant demographic factors impacting eyewear in Hong Kong. In early 2023, over 21.6% of the population in Hong Kong were aged 65 years and older, and thus likely to be in need of some type of presbyopia-related…

Overall eyewear in South Korea is recording mild growth in 2023, with all eyewear categories surpassing pre-pandemic value sales levels. Sunglasses is a particularly strong performer in 2023, recording another year of double-digit value growth and…

Demand for eyewear in Singapore is recovering well, with retail volume sales expected to surpass pre-pandemic levels in 2024 after the significant decline witnessed in 2020. Both current value and retail volume sales of spectacles recovered in early…

Overall eyewear in Hong Kong shows greater signs of recovery in 2023, following low growth rates in 2022. The Hong Kong government gradually eased social restrictions from the second half of 2022 into early 2023. In March 2023, Hong Kong fully…

Demand for contact lenses in South Korea continues to grow in 2023. Most COVID-19 restrictions, such as for large group gatherings and curfews for businesses, were lifted in April 2022, encouraging local consumers to return to pre-pandemic busy…

The return to normalcy in terms of social activities and resumption of travel as most countries reopened their borders will help drive further sales of contact lenses and solutions over 2023 and surpass pre-pandemic levels in current value terms. The…

Demand for contact lenses in Hong Kong continues to grow. Following the cancellation of mandatory face mask policies, the local government lifted all pandemic-related restrictions in March 2023. Consumers' lives are returning to normal, and their…

Demand for sunglasses is on the rise in 2023 as COVID-19 restrictions are now relaxed and people venture outdoors more frequently, whether for socializing or exercising. The return of international travel patterns has been a key driver as most…

In the post-COVID-19 era, it is no longer mandatory to wear masks in Taiwan but many people still prefer to do so. Many individuals in Taiwan prefer contact lenses over glasses due to the discomfort caused by wearing glasses and masks simultaneously.…

As COVID-19 restrictions ease in Taiwan, people are returning to their normal routines, including going back to the office, exercising outdoors, and traveling on holiday. Due to the strong preference for in-office working culture, demand for contact…

Contact lenses and solutions continue to recover from the negative impact of the COVID-19 pandemic in 2023. Despite some government intervention in 2022, retail volume and current value sales still remain substantially lower than pre-pandemic levels…

Retail value sales of sunglasses registered accelerated growth in constant value terms in 2023, surpassing the performance of the previous year. As the country emerged from the COVID-19 crisis, Indonesians became increasingly keen to socialise and…

Retail sales of spectacles advanced at a slower rate in constant value terms in 2023, continuing the trend of the previous year. Unlike contact lenses, the category registered healthy growth during the pandemic years, due to the fact that glasses…

Retail value sales of eye wear in Indonesia registered accelerated growth in constant value terms in 2023, surpassing the performance of the previous year. As the country emerged from the pandemic, Indonesians became increasingly keen to travel,…

Retail sales of contact lenses and solutions saw healthy growth in constant value terms in 2023, continuing the trend of the previous year. This was due to the normalisation of consumer lifestyles, as pandemic-related restrictions were increasingly…

The Asian consumer is changing. Traditional values that served the collective in terms of both society and the family are on the wane, with COVID-19 lockdowns accelerating a new focus on individualism and the self. This report explores how Asian…

This report examines inflation levels and drivers globally and in key countries. In 2023, global inflation is expected to ease from its peak in 2022, but remaining significantly above-trend. Geopolitical risks and uncertainty in the energy market are…

Now in its seventh edition, this report explores the top digital shopper trends that will redefine commerce the most in the year ahead. Some of the trends included in this edition touch on topics such as second-hand shopping, community group buying,…

This report examines inflation levels and drivers globally and in key countries. Global inflation is reaching a peak, although geopolitical risks and uncertainty in the energy market remain key risks. The impact varies between countries, with…