Executive Summary

Jul 2019
PROSPECTS
Weaker economy may curb growth, but demand for sunglasses will not diminish

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.

Fashion outweighs function when Thais look to purchase sunglasses

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.

Sunglasses are more affordable purchases when shopping for a special brands

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.

COMPETITIVE LANDSCAPE
Luxottica buttresses its lead by opening a dedicated Ray-Ban store in Bangkok

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 supports online shop with at-home trial option

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.

Oakley increasing capitalising on sporting trend

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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Overview

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.

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 Thailand, our research will save you time and money while empowering you to make informed, profitable decisions.

The Sunglasses in Thailand 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 Thailand?
  • 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 Thailand - Category analysis

HEADLINES

PROSPECTS

Weaker economy may curb growth, but demand for sunglasses will not diminish
Fashion outweighs function when Thais look to purchase sunglasses
Sunglasses are more affordable purchases when shopping for a special brands

COMPETITIVE LANDSCAPE

Luxottica buttresses its lead by opening a dedicated Ray-Ban store in Bangkok
Thai eyewear brand Glazziq supports online shop with at-home trial option
Oakley increasing capitalising on sporting trend

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 Thailand - Industry Overview

EXECUTIVE SUMMARY

Lifestyle changes, ageing population, expanded distribution translate into growth
Luxottica opens a dedicated Ray-Ban store as optical shops proliferate
International players dominate but face competition from counterfeits
Optical shops remains the main shopping channel, but internet retailing grows
Ageing and continuous use of electronic devices guarantees steady growth

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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