Executive Summary

Aug 2019
PROSPECTS
Counterfeit brands remain widely available, placing pressure on legitimate sales

Legitimate sales of designer sunglasses remain under strong pressure from counterfeit sunglasses, which are still widely available from street markets throughout Malaysia. The brands most commonly counterfeited include Ray-Ban, Dior, Oakley and Gucci, three of which are in the category’s top five brands.

Widespread price discounting undermines the category’s value growth potential

The leading retailers of sunglasses are increasingly turning to price discounts as a way to attract consumers into their stores and bolster their volume sales. 2019 saw numerous major chained eyewear retailers increase their focus on price discounts, including MOG Eyewear, Optical 88 and Focus Point.

COMPETITIVE LANDSCAPE
International brands remain in control of sunglasses sales

As in all eyewear categories in Malaysia, international players lead sales in sunglasses. This is primarily due to their strong distribution networks and the general preference among consumers for sunglasses that are stylish, highly functional and of high quality.

Affordable luxury brands among the best performers in 2018

Demand for entry-level luxury brands increased in sunglasses in 2018. Consumers continue to flock to affordable luxury brands such as Ray-Ban, Oakley, Tag Heuer and Burberry in search of the style, quality and cachet that such famous brands offer, but at prices that can be justified by the majority of middle-income Malaysians.

Optical shops continues to dominate the distribution of sunglasses

Store-based retailing remains the dominant source of sunglasses in Malaysia. Specifically, optical shops is by far the leading retail channel for sunglasses, with department stores the only other channel with notable sales in the category.

Internet retailing to continue growing in importance for sales of sunglasses

The penetration of internet retailing is increasing meanwhile, with small and medium-sized companies increasingly prominent in the online retailing of sunglasses. In particular, these emerging online retailers focus mainly on affordable ranges of sunglasses.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Sunglasses industry in Malaysia with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Sunglasses industry in Malaysia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Sunglasses in Malaysia market research report includes:
  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as: 
  • Do spectacle frames create more sales than spectacle lenses in Malaysia?
  • Which type of spectacles do we spend more on – men’s, women’s or children’s?
  • How are independent opticians coping with the emergence of health and beauty multiples?
Why buy this report?
  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our sunglasses market research database.

Sunglasses in Malaysia - Category analysis

HEADLINES

PROSPECTS

Counterfeit brands remain widely available, placing pressure on legitimate sales
Widespread price discounting undermines the category’s value growth potential

COMPETITIVE LANDSCAPE

International brands remain in control of sunglasses sales
Affordable luxury brands among the best performers in 2018
Optical shops continues to dominate the distribution of sunglasses
Internet retailing to continue growing in importance for sales of sunglasses

CATEGORY DATA

Table 1 Sales of Sunglasses: Volume 2014-2019
Table 2 Sales of Sunglasses: Value 2014-2019
Table 3 Sales of Sunglasses: % Volume Growth 2014-2019
Table 4 Sales of Sunglasses: % Value Growth 2014-2019
Table 5 NBO Company Shares of Sunglasses: % Value 2014-2018
Table 6 LBN Brand Shares of Sunglasses: % Value 2015-2018
Table 7 Distribution of Sunglasses by Format: % Value 2014-2019
Table 8 Forecast Sales of Sunglasses: Volume 2019-2024
Table 9 Forecast Sales of Sunglasses: Value 2019-2024
Table 10 Forecast Sales of Sunglasses: % Volume Growth 2019-2024
Table 11 Forecast Sales of Sunglasses: % Value Growth 2019-2024

Eyewear in Malaysia - Industry Overview

EXECUTIVE SUMMARY

Eyewear registers consistent, sustainable growth due to favourable lifestyle trends
Overexposure to digital screens and price discounting the major trends in 2019
International players continue to dominate sales in all eyewear categories
Optical shops still dominant distribution channel despite the rise of internet retailing
Rising demand and price discounting set to define sales in all eyewear categories

MARKET DATA

Table 12 Sales of Eyewear by Category: Volume 2014-2019
Table 13 Sales of Eyewear by Category: Value 2014-2019
Table 14 Sales of Eyewear by Category: % Volume Growth 2014-2019
Table 15 Sales of Eyewear by Category: % Value Growth 2014-2019
Table 16 NBO Company Shares of Eyewear: % Value 2014-2018
Table 17 LBN Brand Shares of Eyewear: % Value 2015-2018
Table 18 Distribution of Eyewear by Format: % Value 2014-2019
Table 19 Forecast Sales of Eyewear by Category: Volume 2019-2024
Table 20 Forecast Sales of Eyewear by Category: Value 2019-2024
Table 21 Forecast Sales of Eyewear by Category: % Volume Growth 2019-2024
Table 22 Forecast Sales of Eyewear by Category: % Value Growth 2019-2024

DEFINITIONS

SOURCES

Summary 1 Research Sources

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