Eyewear in Brazil

COVID-19 impact on eyewear

The Brazilian eyewear industry had been slowly developing in recent years, exploiting its massive consumption potential. However, in spite of the growth rates recorded in recent times, all the developments in the industry are still some way short of providing universal access to ophthalmologic treatment and products, particularly for many lower-income families.

COVID-19 country impact

The belated arrival of COVID-19 in Brazil – in comparison to Asia and Europe – has not prevented it from becoming one of the most-affected countries in the world. Without a national policy, quarantines and lockdowns have been implemented by the individual cities and states.

Company response

The strong appetite in the industry for mergers and acquisitions is expected to remain on standby over the next few years until the major business groups return to something like their usual financial health. Communication efforts were resumed in the second semester of 2020, delivering messages connected to the social and economic limitations experienced by consumers, exploring new features, such as anti-haze spectacle lenses, and spreading awareness of the importance of protection against intense exposure to screens during quarantines.

Retailing shift

Even though internet retailing has been recording significant growth in all industries, for eyewear there are some barriers in the way of greater adoption of this channel due to the processes involved in purchasing eye correction products. The Brazilian optical retail environment is extremely dependent on physical optical shops, which remained closed during quarantines, not being seen as essential services by most cities.

What next for eyewear?

COVID-19 is expected to have a negative effect on industry sales in the early years of the forecast period, with many temporary closures of stores possibly becoming permanent ones due to the social and economic backdrop in the wake of the pandemic as falling average incomes and rising unemployment make themselves felt. The devaluation of the local currency has also been putting pressure on the end prices of many imported products, reducing consumers’ purchasing power.

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