Features

HKTDC toasts biggest ever Optical Fair

More than 14,700 buyers from 99 countries took part in the 23rd Hong Kong Optical Fair, which highlighted the growth of the European market
[CaptionComponent="1955"]

Commenting on the Fair’s success, Hong Kong’s Trade and Development Council’s (HKTDC) deputy executive director Benjamin Chau said:

‘This points to the potential in China’s online optical market, and the growth in total attendance – up nearly five per cent from last year – shows that the Hong Kong Optical Fair is major sourcing platform for the industry.’

Running from 4-6 November at Hong Kong’s Convention Centre, the Fair opened with a seminar titled Achieving Business Success – How to Leverage the Latest Industry, Retail and Consumer trends, where representatives from GfK, Germany’s leading market research institute, analysed the latest trends in European and Asian markets, retailers’ development focus, fashion trends and consumer habits.

Speakers at the first seminar included Dario Lorizzo, global product manager account of Eyewear, GfK.

After tracking the sales of more than 165,000 optical stores, GfK noted that the European optical market, led by France, Italy and Spain, achieved considerable growth with increased sales of 4 per cent in the first half of 2015. The momentum came from two types of major products, lenses and frames, he said.

The sales of lenses amounted to more than 50 per cent of the industry’s total sales, while the two product types combined accounted for more than 70 per cent of the industry’s sales. In addition to Europe, the dominance of lens sales is also evident in Japan, while for the Chinese mainland and India markets, frames are the leading products in terms of sales.

[CaptionComponent="1956"]

Consumer buying trends

For consumer behaviour, GfK tracked more than 37,000 consumers aged 25 or above in 25 countries for 18 years, and summarised 12 general trends for the global market.

These trends are applicable to all kinds of industries, as well as optical. Soh Guan Kai, manager, GfK Asia, highlighted six general trends during the seminar.

‘Firstly, today’s consumers reviewed what they value the most. They are smart and expect high standards of quality for a product, yet they are also concerned with the cost-performance ratio,’ he said.

‘Secondly, the consumers are concerned with safety and are risk-averse; therefore, they would like products that are safe and functional.

‘Thirdly, the consumers would only buy a product after careful consideration. They would like to purchase products that express their personality, and pay much attention to the integrity, transparency and reputation of a retailer.

‘Fourthly, the consumers seek satisfaction. They want to buy the best product, and wish for a nice shopping experience that corresponds to or even goes beyond their expectation, hoping that the retail store regards them as loyal customers.

‘Fifthly, as everyone wants to exert their influence through social media, the consumer would like more choices, information and evaluations. Therefore, retailers should suggest suitable products to the consumers as an independent adviser, instead of selling particular brands.

‘Finally, the consumers would like convenient services and hope that it is possible for them to purchase suitable items anytime, anywhere. As the trend now is online retailing, shops should provide delivery services, purchase suggestions and mobile stores.’

The fair also attracted various ‘global buying missions’ from 47 countries, including Argentina’s Vision Planet SRL, the Chinese mainland’s Amazon (China) Investment Co, the Czech Republic’s Fokus Optik A S, Kazakhstan’s Dega Plus Company, Korea’s CED International, Spain’s Athletic Sport Group (GRUPO ILLICE), Taiwan’s AD Global Co Ltd, Turkey’s Kuz Optik and Majestic Optics Co from the UAE.

[CaptionComponent="1957"]

A trend noticed this year more so than previous years was the greater presence of buyers from a variety of emerging markets including the Middle East, Thailand and Indonesia.

‘The trading atmosphere was very good at the fairground and buyers were eager to find the latest eyewear designs, products and equipment,’ said Chau. ‘Seeing the greater number of participation from smaller markets was an excellent example of how the optical sector is growing year on year.’

Buyers from mature markets such as France, Germany, Italy, the United Kingdom, Japan, Korea and Taiwan also increased. ‘Hong Kong is often seen as the “gateway to China”, which is a major source of growth for many buyers, so we were able to facilitate many new partnerships’ said Chau.

[CaptionComponent="1958"]

Forging new partnerships

Japan-based exhibitor Hug Ozawa had chosen to launch its Skins eyewear collection in Hong Kong and the company’s Overseas Division – division manager, Toshi Tsukada, said he had brought the Ultem Collection to the fair to launch to the Asia market.

‘This particular frame collection is very popular in South-east Asia because it is ultra-light, elastic, tough and heat-resistant, which is perfect for humid temperatures,’ he said. Hug Ozawa was able to secure two distributors from Indonesia and the Philippines.

Another first-time buyer at the fair was Chilean eyewear chain store Opticas Moneda Rotter. Juan Pablo Cremaschi, the company’s general manager, found four new suppliers from the Chinese mainland, Hong Kong and Taiwan at the fair and placed total orders worth US$50,000.

‘For me, sourcing new partners was easier in Hong Kong because it’s supremely situated in the heart of Asia,’ said Cremaschi. ‘The fair is one of the most international events in the world and I saw many innovative designs originating in several different countries.’

B31_6949

Trending sectors of the optical industry

Technology was an integral part of the fair, with 3D-printed manufacturing becoming a hot topic in the optical industry. Hong Kong exhibitor Chang’s Optical Asia is an eyewear distributor that represents eight leading designer brands in the Greater China market, including ic!berlin, DITA and Ørgreen. To cater to the growing market trend, Chang’s Optical launched a series of 3D-printed frames from ic!berlin and styles using natural materials such as wood, stone and cow horns from Lucas de Stael and Rolf Spectacles.

Mabel Sze, the company’s PR and marketing manager, said: ‘Showcasing our latest designs at the Brand Name Gallery, where international brands converge, is effective for promoting business exchanges and introducing our products to global buyers. The buyers’ responses to our products have been very strong this year.’

The popular Brand Gallery expanded this year to include 220 brands from 22 countries including, A Bathing Ape, Italia Independent, Jaeger, Kenzo, LGR, Markus-t, Slastic, Superdry and the Red Dot award-winning Korean brand, Seesun.

Throughout the show, there was regular fashion shows to highlight the latest collections of leading eyewear brands and the 17th Hong Kong Eyewear Design Competition showcased winning and shortlisted entries where buyers voted for the winner of the The Latest Look Award.

[CaptionComponent="1959"]

Another key area of focus were smart glasses, which are gaining popularity in many international markets.

At last year’s Optical Fair, Rochester Optical from the United States presented for the first time its latest Smart Gold lenses, which provide greater visual clarity for smart glasses users.

Hong Kong Optical Lens Company immediately saw the market potential of Smart Gold lenses and signed a partnership agreement with Rochester Optical to distribute these lenses to markets worldwide, except the US.

Ivan Cheng, business development officer, said the company promoted its Smart Gold lenses at the fair this year and attracted a high degree of interest from international buyers, including those from Australia, Europe, India, South America and South-east Asia. Some buyers have already placed sample orders.

Fashion-forward designs

OAH_6078

First-time Spanish buyer D Franklin came to Hong Kong looking to source new products. With the help of the HKTDC’s business-matching team, the company successfully found new suppliers from the Chinese mainland and Hong Kong, and has been discussing business co-operation.

The company’s founder and CEO, Daniel Franklin Esquitino, said, ‘European consumers like full-frame, round-shaped sunglasses with mirror glasses. We have found what we want at the Hong Kong Optical Fair.’

[CaptionComponent="1960"]

CED International is the exclusive distributor of seven international brands in Korea. The company was visiting the fair for the third time.

Marketing director Dean J Kim said the market favoured optical frames that use a mix of materials, such as acetate and metals. Kim expected aviation glasses and metal frames with gold or silver-plating would gain popularity next year. He said his goal at the fair was to find new products to capture upcoming business opportunities.

Lorizzo also pointed out that the Korean market had great demand for high-end eyewear, where its sales are twice that of the European market.

‘As for the trend for frames, the current bestselling model is the Wayfarer, with its full-rim plastic frame. Yet round frames made of mixed material will be in fashion in the coming season.’

Related Articles