The eyewear industry in China is expected to grow as 120,000 eyewear stores will be needed to meet the fast-growing demand in the next five years, that could spawn a 1-trillion-yuan market, China Daily reported.
The China Optometric and Optical Association said that there are currently more than 60,000 eyewear stores in the country.
But the rising disposal income of the middle-class Chinese and the growing awareness for eye care are likely to drive the country’s eyewear market, Frederic Poux, CEO of Alain Afflelou Group, France’s largest franchised eyewear group, noted.
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Data from Shanghai Bosi Commercial Consultancy Ltd showed that there are more than 400 million users of certain kind of eyewear in the country and about million pairs of glasses will be needed every year.
Now, a growing number of consumers prefer high-end lenses. “Again, in the past, much of a consumer’s eyewear budget was spent on the frame, especially luxury brands’ frames. Now, more is spent on high-end lenses,” according to Robert Ng, an optician at a Shanghai store of a Hong Kong-based eyewear chain.
As consumers shift their demand for items that represent wealth, health, and good looks, eyewear manufacturers and brands in China can take advantage of this, market researchers said, adding that wearable devices such as eyewear are also becoming part of one’s high-tech fashion accessories.