Demand for luxury sunglasses declined over the course of 2020 as the strict adherence to the principles of home seclusion and social distancing led consumers to spend much less time outdoors. In adhering to the regulations that governed the lockdown, consumers were unable to spend much time outside of their homes, which meant far less exposure to sunlight and potentially harmful UV rays.
With many people opting to spend time at home in order to protect themselves from contagion, more people are spending longer in front of screens working from home, in online learning and for entertainment and relaxation purposes. So much screen time and a generally more digitalised lifestyle have the potential to become a risk to eye health.
Faced with a decline in demand for luxury eyewear due to the COVID-19 pandemic, many of the category’s leading players and some of the most important retailers of luxury eyewear turned to price discounts as a way of boosting demand and keeping sales ticking over. For instance, discounts of 20-25% were on offer for luxury spectacle frames in Better Vision Optical Stores, while Waltz Vision launched a major mid-year sale, with prices slashed by up to 60% over certain periods.
Overall, sales of luxury eyewear are expected to recover strongly during the forecast period once the COVID-19 pandemic eventually recedes. With many people expected to begin spending more time socialising outside of the home, it is inevitable that demand for sunglasses will generally rise, with luxury sunglasses set to benefit from this situation.
The forecast period is expected to see increasing numbers of Thai consumers treating their spectacles as though they were fashion accessories. With this in mind, it is likely that luxury eyewear brands will benefit from the cachet and status that they represent.
New product development could remain a key factor in fuelling demand. Wealthier individuals in the country are set to demand high-end brands of exceptional quality that are available in luxury eyewear.
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Understand the latest market trends and future growth opportunities for the Luxury Eyewear industry in Thailand with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Luxury Eyewear
This is the aggregate of luxury sunglasses and luxury spectacle frames.
See All of Our DefinitionsThis report originates from Passport, our Luxury Eyewear research and analysis database.
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