The market for spectacles in the Philippines will continue to expand in constant value terms (at 2024 prices) during the forecast period, supported by an improving economic outlook, population growth (especially amongst Millennials) and sustained urbanisation. Optical goods retailers are anticipated to respond to these trends by expanding their respective product ranges, as well as growing their physical store networks, especially in emerging urban areas.
E-commerce will also be instrumental in driving growth in spectacles, supported by the development of new technologies which offer a more enhanced shopping experience. For example, virtual try-on services, which allow consumers to try on frames from their favourite brands within the comfort of their own homes, will have a positive impact on sales.
One of the biggest challenges facing eyewear companies is how to make their spectacles more sustainable. While initiatives are in place to donate surplus glasses to those who are unable to afford a pair, through organisations such as the Asian Eye Institute and Charity Vision, spectacle frames are still commonly made from materials which are known to be harmful to the environment.
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Understand the latest market trends and future growth opportunities for the Spectacles industry in Philippines with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Spectacles industry in Philippines, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Spectacles
This is the aggregation of spectacle frames, spectacle lenses and readymade reading glasses.
See All of Our DefinitionsThis report originates from Passport, our Spectacles research and analysis database.
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