Eyewear in Brazil

Eyewear records second consecutive year of growth after economic slowdown

After two years of retraction, in 2015 and 2016, eyewear resumed its value growth path in 2017 and 2018. This reversal after the crisis happened due to the recovery of consumer confidence in current and future economic situations.

Higher growth rates come from the cheapest and most expensive categories

The big social disparity between the highest and lowest socioeconomic groups in Brazil explains the different price tiers of the fastest growing categories. At the same time daily disposable lenses (the most expensive category) grows, readymade reading glasses (the cheapest category) also records one of the strongest growth levels.

Essilor and Luxottica merger is approved by Brazilian regulatory council

The competitive scenario is increasingly concentrated on a few international manufacturers and the merger between two of the main companies strengthens this trend. In February the regulatory council (CADE) approved the merger in Brazil, however, both companies keep their independent communications in 2018.

Optical shops leads overall sales of eyewear in Brazil

Optical shops maintains its absolute leadership in terms of value share in Brazil in 2018. According to regulations, only optical stores are authorised to sell prescription lenses, with just a small area of spectacle frames possibly sold via other channels.

Value growth is expected, albeit slower than pre-crisis period

The economic scenario has already improved in terms of important indicators, such as GDP variations and confidence index, while, according to Euromonitor International’s research on economies and consumers, the percentage of the population aged 15 years old and older with income lower than USD1,500 decreased in 2017. However, the purchasing power of middle- and low-income consumers was affected in a number of ways, resulting in consumers changing their habits and prioritising basic and essential categories rather than superfluous or fashionable ones.

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