Retail revolution drives eyewear sales in China

China's eyewear market will grow rapidly between now and 2009, experts on the region predicted this week.
Retail sales are expected to grow by almost 40 per cent between now and the end of the decade, driven by the country's burgeoning consumer economy.
A new report estimates that nearly 73 million spectacles and 1.5 million pairs of contact lenses will be sold this year, and by 2009 these totals will increase to 102 million and 2.1 million respectively.
Annual percentage growth rates will be strong and steady in the spectacle sector, and contact lens growth is expected to leap by over 10 per cent between now and 2006, before levelling out to around 8 or 9 per cent a year by 2008-2009.
However, it will be the spectacles sector that will lead the market's expansion, claim the researchers from Access Asia, the independent provider of Asian market intelligence for companies which is based in China, Hong Kong and the UK.
'Huge potential on the spectacles market has attracted overseas businessmen and investors,' the researchers have stated.
'Furthermore, sales of spectacles in China are growing in value as more people wear them and more people opt for designer and expensive frames, or contact lenses.'
Government statistics estimate that around 300 million Chinese people currently wear spectacles. Access Asia researchers expect that if the population are encouraged to change their spectacles more regularly, annual demand for new pairs could rise from 60 million to 100 million 'by 2010 or sooner'.
Growth is inevitable, the researchers claim, as white collar workers are becoming increasingly interested in their personal appearance, and purchase more expensive eyewear. Also, there is a rise in availability of eyewear, with the growth of the number of retail chains in the country including the Hong Kong-based Moulin International and improved optical healthcare in schools.
In China there are around 4,000 optical manufacturers and 20,000 optical retail outlets.
The total value of the eyewear market today is estimated to be RMB11bn ($1.34bn), having risen in value by 125 per cent since 1998.
Eyewear in China: A Market Briefing is available from Access Asia, telephone 01454 316643.