The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreAug 2016
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The eyewear industry is a consolidated competitive environment, led by global manufacturers employing global growth strategies. However, there are niches in the industry that are left unaddressed, and these provide openings for new, small and emerging business models. This report analyses what these emerging business models are, and how they are slowly changing the eyewear landscape.
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The eyewear market is generally operated largely as an oligopoly, with a few huge players dominating the industry. High-priced fashion and luxury players contribute to the high price tags for eyewear, with innovations in higher quality lenses making eyewear even more costly, but often there is a lack of price transparency.
Consumers today are highly fashion sensitive and are looking for the latest trends in eyewear, but with every other retailers stocking products this often leads to price competition instead. With so many fashion brands introducing new collections every other month, over-stocking of eyewear often occurs. some retailers seek to be different, focusing on niche consumer interests.
Optical stores are the main distribution channel for most eyewear products, contribution to almost 70% of the total value sales in 2016. While eyewear products have traditionally been paired with optical services, the online presence is increasing. Netizens represent one group of consumers that retailers have been especially interested in over the last few years.
Globally the luxury market is growing with Asia Pacific as the fastest growing region. In 2015 Asia replaced North America as the second largest market after western Europe. At the rate Asia Pacific is growing it is likely to almost match Western Europe by 2020.
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.