Boston, MA -- (SBWIRE) -- 02/10/2015 -- Hong Kong, China is one of the Asian cities that has the highest penetration rate of smartphones with 87%, according to government figures. Consumers are highly tech savvy and smartphone addicted, and many of them like using mobile devices such as tablet computers or smartphones when they commute on trains and buses. Digitally multitasking and craving to stay connected in social media draw many Hong Kongers into keeping a close eye distance from electronic screens. Consequently, this is leading to a growing trend of people with core eyesight symptoms, especially in teens and young adults. Demand for spectacles increased over the review period.

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Competitive Landscape

Luxottica Retail HK Ltd continued leading the spectacles value sales in 2013, with 21% share in retail value terms, and maintained the same level as in 2012. The company carries a range of leading eyewear brands in Hong Kong, China, including Prada, Ray-Ban, Burberry and Oakley. Hong Kong, China is one of the top mega cities that Luxottica Group SpA focused on in 2013, with overall value sales growth rate amounting to 11% increase. Luxottica is successful in maintaining superior production capabilities and an efficient distribution network. New products of Luxottica launched in 2012 performed well and contributed to the increase in value sales.

Industry Prospects

Over the forecast period, spectacles is expected to post a gradual growing trend in value, with 6% CAGR at constant 2014 prices, largely due to the increasing rate of the myopic and presbyopic population in the city as more young adults, aged 30 or younger, suffer from conditions that previously only affected the older people, including presbyopia. Besides, the ageing population means more older people need reading glasses.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Spectacles industry in Hong Kong, China with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Spectacles industry in Hong Kong, China, our research will save you time and money while empowering you to make informed, profitable decisions.

The Spectacles in Hong Kong, China market research report includes:

- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

- Do spectacle frames create more sales than spectacle lenses in Hong Kong, China?
- Which type of spectacles do we spend more on ? men?s, women?s or children?s?
- How are independent opticians coping with the emergence of health and beauty multiples?

Reasons to Get this Report

- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions

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