Competitor Strategies in Eyewear

Delivery

This report comes in PPT.

Key Findings

Eyewear companies show signs of recovery

Encouraging signs of a recovery from the impact of the COVID-19 pandemic on global eyewear were revealed in the leading companies’ most recent financial results, driven by growing incidence of myopia and presbyopia among ageing populations. However, the uncertain global situation is likely to push eyewear players to reassess their priorities and the standard operating procedures they have in place.

Myopia control products gaining ground

Myopia is grabbing the attention of practitioners and eyewear manufacturers around the globe. As well as the genetic development of myopia, the rise in the global prevalence of myopia is down to the growing daily and prolonged use of tablets, PCs and smartphones. Businesses are using creative strategies, such as myopia management apps and celebrity “spokeschildren”, as a means to connect with the Generations Z and Alpha cohort and their parents.

Hybrid business models and digital developments accelerate

The COVID-19 pandemic was a turning point for the eyewear industry, as businesses realised the importance of the e-commerce channel. As consumers shift to a more hybrid approach to shopping, enjoying the convenience of e-commerce as well the expertise of the in-store professionals, so too are the leading eyewear business repositioning their focus onto digital innovations both in the online channels and in their own physical stores.

Sustainability and inclusion to be the drivers of future growth

Finally, with social justice and climate change coming to the fore for a growing number of consumers, businesses are now prioritising sustainability and inclusion, not only as part of their core product offering, but also in terms of production processes, as they take greater responsibility about the future impact their business has on the environment.