Eyewear in Ukraine

Eyewear benefits from widening consumer “digitalisation”

Consumer expenditure on eyewear continued to grow in Ukraine in 2018. While partly this was the result of the recovery of the industry to pre-crisis levels given the return of economic stabilisation, demand for such products was additionally boosted by the further penetration of consumer electronics.

In 2018, demand for eyewear stabilises in Ukraine

After sales peaking in 2017 when eyewear posted double-digit growth, partially compensating for volume declines during the crisis of 2014 and 2015, in 2018, sales dynamics were much more modest. On the one hand, eyewear benefited from the expanding penetration of eye health problems caused by unhealthy living and spending too much time with gadgets; however, the population of Ukraine declined on an annual basis and, in spite of average salary increases following the rise of the minimal salary to UAH3,723 per month in January 2018 from UAH3,200 a year previously, Ukrainians remained largely price-sensitive and economical.

Eyewear is fragmented, especially within sunglasses

In 2018, eyewear was characterised by a significant level of fragmentation, which was due to the presence of multiple international players and Asian manufacturers of no-name products, sunglasses in particular. Luxoptika, as the biggest chained retailer within eyewear, Linz Express and Novartis are the strongest players.

Optical goods stores are the most trusted for eyewear purchases

When considering purchasing eyewear, Ukrainians typically consider optical goods stores, especially in relation to spectacles and contact lenses. In such outlets, consumers are offered a wide range of certified eyewear and can also receive a consultation from an expert, including visiting an ophthalmologist prior to buying contact lenses or spectacles.

Forecast period performance of eyewear to be determined by economic and demographic factors

Over the forecast period, the performance of eyewear will be largely determined by socioeconomic and demographic factors. On the one hand, the population of Ukraine is set to steadily reduce, but this trend will be offset by the ageing of the population and increasing eye health problems among younger consumers, especially among those actively using consumer electronics.

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