Eyewear in the Philippines

Eyewear in 2021: The big picture

Eyewear suffered a significant, double-digit decline in demand during the COVID-19 pandemic in 2020, albeit not to the same extent as overall personal accessories. All types of eyewear were negatively impacted by restrictions on store operations, disruptions to production, and enforced home seclusion as a result of the COVID-19 pandemic.

Key trends in 2021

Spectacles is expected to put in a stronger performance than contact lenses in 2020, partly as a result of concerns that contact lens wearers may be more likely to contract the COVID-19 virus due to the necessity for close contact between the fingers and eyes when inserting these lenses. Indeed, a number of manufacturers have made public statements concerning the importance of good personal hygiene practices during the health crisis.

Competitive landscape

Prior to the outbreak of COVID-19, manufacturers and retailers were already working to develop their digital presence, with efforts to build integrated online marketing and retailing operations and increasing use of social media in order to attract younger consumers in particular. Measures to contain the COVID-19 pandemic significantly bolstered these efforts, as restrictions on the operations of physical stores and enforced home seclusion severely limited the potential for sales through store-based retailing.

Retailing developments

Store-based retailers represent the vast majority of sales of eyewear in the Philippines, with department stores the largest channel due to its dominance in spectacles. Consumers of contact lenses, on the other hand, prefer to purchase these through optical shops, valuing the specialist advice on offer in these outlets.

What next for eyewear?

Eyewear is set to record good retail volume growth throughout the forecast period, although overall actual volume sales will not exceed pre-pandemic levels until 2024, such was the impact of the COVID-19 pandemic on sales in 2020.

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