Boston, MA -- (SBWIRE) -- 12/02/2014 -- Japan raised its consumption tax from 5% to 8% on 1 April 2014. This was the first increase in 17 years. Consumers moved to purchase goods and services in advance, before the tax increase became effective. Spectacles also benefitted from a surge in shopping demand during the first quarter of 2014. The tax increased pushed consumers to buy new spectacles, not only just replacing old items. After the tax increase, spectacles suffered from an inevitable drop in sales. Overall, retail value sales of spectacles declined by 2% in 2014 to ?451.2 billion.

Competitive Landscape

JIN Co Ltd (J!NS brand) continued to have a positive performance in 2013, and led sales with an 8% value share in 2013. The company experienced significant growth in sales over the recent review period. The company claims that it sold 5.5 million eyeglasses in FY2013. J!NS continued to launch new products with trendy designs and shapes to attract consumers. In April 2013, the company launched a new eyeglass frame product line called ?JINS CLASSIC?. The series offers classic frames that have a touch of updated and trendy designs, which helped to target wider range of age group. The company also launched various functional eyeglasses in 2013. The second series of J!NS Kafun Cut (eyewear for protecting eyes from kafun or pollen) was launched in January 2013, and the company was active in promoting and advertising the products through TV commercials to increase the product recognition amongst consumers. The company?s new sports sunglasses series, J!NS SPORTS, was launched in March 2013, and received the 2013 Good Design Award organised by the Japan Institute of Design Promotion. The company will continue strengthening the planning and development of advanced innovative eyeglasses to create new demand in the eyewear industry and further increase its market shares in Japan.

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Industry Prospects

Chained optical stores will focus on store expansion, aiming to further increase market shares. MEGANE TOP has announced plans to expand its stores to 1,000 and 1,100 stores by fiscal 2018. Some retailers are planning to open unique retailing stores to target specific consumer groups. JINS Co planned to open a sunglasses specialty store, FUJIMAYA JINS, at the fifth station of Mt Fuji temporarily starting from July 2014 through September 2014. The company sells almost 100 types of sunglasses products including J!NS original FUJIYAMA JINS and JINS SPORTS sunglasses to target Mt Fuji climbers. The unique concept of the store is expected to attract a lot of interest from mass media, and it can advertise that its store is located at the highest point in Japan. Aigan opened the new retail store Aiphy Aigan, which sells children?s eyeglasses in Osaka. AEON opened a retail store called Opt Valu in April 2012; it sells prescription eyewear for presbyopia targeting senior citizens. Chained optical stores will continue to be active in opening unique stores to target specific consumer groups, aiming to increase the number of visitors to their stores.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Spectacles industry in Japan 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 Japan, our research will save you time and money while empowering you to make informed, profitable decisions.

The Spectacles in Japan 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 Japan?
- 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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