Sunglasses was the hardest hit by the pandemic in 2020, with current value sales falling by over a fifth. Value sales are expected to decline in 2021, though the decline will not be as steep as in 2020.
Luxottica Wholesale remained the clear leading player in sunglasses in 2020. The company offered major international brands like Ray-Ban, Chanel, Coach, Emporio Armani, Vogue and Dolce & Gabbana.
As many Thais consider sunglasses to be non-essential items, emotional or style/fashion aspects are often more important considerations than functional benefits like UV protection. Thai consumers regard sunglasses as a fashion accessory, whereas transitional lenses are chosen for convenience in blocking UV rays without switching glasses.
Sunglasses is expected to rebound over the forecast period. Constant value growth is expected to be highest in 2022, as society opens up and pent-up demand drives value sales.
The demand for sunglasses is set to continue to be stimulated by consumers with lifestyles geared towards outdoor activities and fashion. There may also be a shift towards sunglasses designed for wear when playing certain sports or hobbies like golf, running and cycling or sports styles with polarised lenses as offered by Oakley.
Manufacturers and retailers may look to more targeted strategies to stimulate interest in sunglasses in the short to medium term. These are increasingly likely to feature digital communication and marketing and promotional tools.
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Understand the latest market trends and future growth opportunities for the Sunglasses industry in Thailand 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 Sunglasses industry in Thailand, 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 Sunglasses research and analysis database.
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