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.
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.
As a result, many eyewear manufacturers are also interested to set up shop in China.
Now, a growing number of consumers also prefer high-end lenses, with the price that ranges from 3,000 yuan to 8,000 yuan, according to Robert Ng, an optician at a Shanghai store of a Hong Kong-based eyewear chain.
"In the past, when a consumer was recommended Zeiss lenses, he or she would hesitate because the price was beyond his or her budget, or considered not affordable," Ng said. "Now, many consumers would consult us about the differences between a wide range of lenses offered, and hear us out patiently about particular functions of specific 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," the optician added.
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.
The Huatai Securities said in a note that eyewear shows how supply-side reforms can help make a product reflect their real worth and add value.
The note added that the country's eyewear sector is giving users more choices as it moves up the value chain through better design, technology and branding.