Eyewear in South Africa

Slowing growth for eyewear amidst economic instability

Eyewear in South Africa continued to record a positive performance in 2019, although there was a notable slowdown in growth for both current value and retail volume sales, compared to the previous year. This was a prevailing trend in the latter half of the review period.

Fashion trends influence demand amongst affluent and younger consumers

Fashion trends continued to heavily influence demand for spectacle frames and sunglasses amongst higher-income consumers, driven by fashion-conscious South Africans who want to emulate the styles of celebrities and social media influencers. Younger South Africans like to wear brightly coloured frames and lenses.

EssilorLuxottica presents difficult competition for eyewear players

Eyewear in South Africa continued to be led by Essilor SA (Pty) Ltd and Hoya Hill Optics (Pty) Ltd, due to their strength in spectacle lenses, while third-ranked Luxottica South Africa Pty Ltd leads spectacle frames and sunglasses with luxury brands such as Ray-Ban and Oakley. The player has also established a wide distribution network in the country, including its ownership of chained retailer Sunglass Hut.

Optical shops retains dominance but internet retailing appeals to younger consumers

Optical shops continued to dominate sales of eyewear in South Africa in 2019, as most consumers still like to visit a specialist for an eye test before making a purchase for spectacles or contact lenses, as they place greater trust in opticians and optometrists. This is particularly the case for older generations who like to visit a store and feel more confident when speaking to a specialist in addition to being able to physically try the products.

Positive growth set to continue as fashion trends and greater consumer awareness support demand for frames and lenses

The forecast period is set to see a continuation of trends witnessed at the end of the review period, with eyewear continuing to record low demand overall, and slowing current value sales growth. Slower value growth will be linked to price promotions by retailers in an effort to drive volume sales, with many consumers wary of non-essential spending due to ongoing economic instability, and in the case of mid-income consumer, declining disposable incomes.

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