Whar does optical market speak about the china goods
Answers
China is not just the world's leading manufacturer of spectacles but also the largest potential consumer. According to Euromonitor estimates, retail sales of spectacles in China increased by 5.8% to RMB69.9 billion in 2017. Sales of sunglasses showed the fastest growth, registering a 6.8% year-on-year increase.
According to a World Health Organisation report, China has 600 million people with myopia, accounting for nearly half the population. The rate of myopia occurrence exceeds 70% in senior high schools and universities and approaches 50% in primary schools. China has one of the highest myopia rates in the world, suggesting the spectacles market potential is huge.
As living standards improve, consumers are attaching greater importance to the health and protection of their eyes when choosing spectacles, and increasing numbers of people are buying glasses of higher quality. Consumers are paying greater attention to glasses’ aesthetic qualities in addition to practical functions. The trend to buy bespoke, branded spectacles is increasingly evident, however, market projections suggest that as more consumers become aware of mid-range spectacle brands, the sales of these brands may surpass upmarket labels.
Consumers’ pursuit of greater comfort and individuality and the on-going specialisation of China’s eyewear industry have led to the rise of the custom-made market. This is seen as the direction for the industry’s development towards upgrading and brand-building. Custom-made spectacles are individually designed to meet the different needs of customers. They are, for example, made in different shapes to showcase personal style or designed to fit the wearer’s facial contours.
Contact lenses: Euromonitor data shows that consumer spending on contact lenses in China increased at an average annual rate of 7.2% to about RMB4.68 billion in 2017. Retail sales are expected to increase by 6.7% annually over the next five years to reach RMB6.48 billion by 2022, underscoring the potential for further growth in the market. As an increasing number of contact lens consumers want convenience and hygiene, it is expected that sales of disposable one-day contact lenses will have a higher rate of growth than traditional lenses.