Over the review period, demand for sunglasses increasingly slowed down with a weakening economy, and volume growth in this category is expected to slower between 2019 and 2024 for the same reason. On the other hand, value growth will remain about the same.
Many Thais do not consider sunglasses as an essential item, so when consumers decide to purchase a pair, emotional or fashion benefits play a more important role than functional benefits such as UV protection. In other words, transitional lenses do not compete with sunglasses, as Thai consumers see sunglasses as a fashion product, while transitional lenses are what they choose when seeking convenience in blocking UV rays without switching glasses.
With the slowdown in the Thai economy, customers continue to be cautious about purchasing, which has resulted in continuous slow growth in sunglasses sales. However, people do occasionally buy more of smaller items, and sunglasses is one of those items that Thais like to purchase at different brand stores such as Lyn, Chanel, Gucci and Louis Vuitton, regardless of whether they are on promotion.
Thanks to the wide range of international brands it offers in Thailand, and largely supported by its iconic Ray-Ban brand, Luxottica Wholesale (Thailand) maintained its leading value share in sunglasses in 2018. Then, early in 2019, it buttressed its clear leadership in sunglasses by launching the first dedicated Ray-Ban store in Thailand, right in the middle of Siam Center, Bangkok.
Thai eyewear brand Glazziq is taking an innovative approach to making it easy for consumers to choose from amongst its variety of premium sunglasses frames. Potential buyers can try different frame styles in one of the Glazziq stores (it has more than 100 branches) or in its showrooms, three of which are located in Bangkok.
In 2018, second-ranked Oakley (Thailand)’s eponymous Oakley brand gained value share. Although its share remains at quite a distance from Luxottica’s, Oakley gained value share annually throughout the review period.
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Discover the latest market trends and uncover sources of future market growth for the Sunglasses industry in Thailand with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our sunglasses market research database.