The largest and perceived most essential eyewear category in Malaysia, spectacles is predicted to fully recover in volume and value sales terms to pre-pandemic levels over 2021, considering the lower declines that it experienced the previous year. While the dominant distribution channel of optical shops was negatively impacted during 2020 by store closures as part of the lockdown where most consumers would traditionally visit for an eye check-up and review of prescriptions, consumers who know their prescriptions were able to purchase readymade spectacles from other channels such as hypermarkets which remained open, resulting in marginal loss of volume sales for the category.
With increasing price sensitivity as a result of the pandemic’s impact on the local economy, some consumers continued to use spectacles which they already owned for longer in addition to concerns over visiting optical shops when they did reopen over the last year. This has resulted in players engaging in strong marketing strategies to boost consumption including online marketing and greater penetration of e-commerce, despite the fact that traditionally this channel is not popular as many consumers prefer to try on spectacle frames in person to gauge suitability.
Malaysian Hoya Lens Sdn Bhd, which comfortably leads spectacles lenses under the Hoyalux, Nulux and Hilux lines continued to lead overall spectacles in 2020. It was followed by EssilorLuxottica SA and Luxottica Group SpA which are traditionally stronger in spectacle frames where they offer designer names such as Oakley, Ray-Ban and Giorgio Armani.
Lingering price sensitivity amongst some consumers is likely to encourage retailers and manufacturers to focus on aggressive marketing strategies to boost further consumption and take volume sales beyond pre-pandemic levels over the early part of the forecast period by either offering discounted bundle purchases as offered by optical shop Owndays which has an all-in-one price system which is inclusive of spectacle frames and lenses without any hidden costs, or strong discounts on entry-level branded options, whilst allowing retailers to reduce old stock to make way for new collections. Nevertheless, volume growth is predicted to be slower compared to the review period, a trend which will be driven by spectacle lenses, while spectacle frames is set to be the stronger performer given the higher risk of damage and fashion trends; the need or desire to replace or buy new frames is set to be higher for frames than lenses over the forecast period.
Optical shops is likely to remain the dominant distribution channel for spectacles in Malaysia over the forecast period, with many consumers still preferring to have an eye test or consult with an expert before making purchasing decisions, whilst being able to see and try on spectacle frames and lenses in person. Moreover, all optical shops in Malaysia are required to employ a certified optometrist in-store to provide professional advice and services.
An increasing number of players are likely to launch spectacle lenses which cater to consumers’ changing lifestyles due to the increasing frequency of using digital devices for work and study, which will lead to a rising number of products which offer blue light prevention in order to prevent eye strain and other eye health issues. However, rising digitalisation was already emerging prior to the pandemic, and will likely continue even as Malaysians return to the workplace as restrictions relax.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Spectacles industry in Malaysia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Spectacles industry in Malaysia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Spectacles research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page