Sunglasses in the Philippines

PROSPECTS

Travel and outdoor activities encourage purchases of multiple pairs of sunglasses

Sunglasses continued to be the strongest performer within eyewear in 2019, in both current value and retail volume growth. This performance was driven by several trends amongst Filipino consumers.

Local celebrities partner with optical shops for promotion of sunglasses

Aggressive promotional efforts are being adopted by retailers in addition to brands as an alternative strategy to increase sales. Brand influencers in the form of local celebrities such as Sam YG for Sunglass Haven, Enchong Dee and Yassi Pressman for Vision Express, Carla Humphries and Nadine Lustre for Eye Society and Daniel Padilla for i2i continue to be key promoters of sunglasses, chosen by these retailers as they appeal to and reflect the target audience of younger consumers due to their strong presence on social media sites such as Instagram.

The search for niche and affordable brands amongst some consumer segments

Despite the high ranking of many luxury sunglasses brands such as Ray-Ban, Louis Vuitton and Prada due to increasing image consciousness amongst some Filipinos, price discounts remain a vital strategy in encouraging sales, as an increasing number of consumers seek practicality. This is particularly the case with growing economic turmoil due to the heightened prices of basic commodities, which is leading to success for affordable brands such as those offered by retailers including department store SM Malles, Sunnies and i2i.

COMPETITIVE LANDSCAPE

Leader Luxottica loses share to smaller brands

Luxottica Group SpA retained its leadership of sunglasses in 2018, with its popular luxury brands Ray-Ban, Prada and Oakley. However, the player continued to lose value share to smaller players and brands that are entering the category within both mass and luxury sunglasses.

Local player Sunnies by Charlie Inc continues to gain ground on leader

Local brand Sunnies from Sunnies by Charlie Inc continued to gain strong ground within sunglasses, ranking second behind Luxottica Group in 2018. The player continued to gain value share from the leader, recording the strongest performance in current value growth terms.

Fly Shades partners UAAP to launch new sunglasses

In an attempt to take advantage of a dynamic young population in the Philippines and their desire to remain fashionable, local player Fly Shades, in partnership with one of the largest television networks, ABS-CBN, and the University Athletic Association of the Philippines (UAAP) launched UAAP eyewear in 2019 in time for the athletic association’s 81st season. This has inspired different designs of sunglasses that can be purchased by students of a certain school they belong to or a team that they support.

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