During the COVID-19 pandemic, optical stores were closed from 19 March to 25 April, and thereafter were considered essential stores so they could remain open. However, due to the fact that many doctors were not working, the first months after they opened they worked with very low sales levels as they were operating with restricted hours and with the need for booked appointments, which caused people to buy glasses only in an emergency, and not in an impulsive way or for fashion reasons.
As a result of a rising consumer environmental concerns in Argentina, Salvatore Ferragamo has recently launched a sustainable eyewear line, which was available on its website from the end of July 2021. The Responsible Eyewear Collection line of women’s sunglasses, which includes two models in seven colours, is made from recycled and renewable materials that have a lower impact on the environment.
Luxottica Group Srl remains the leading player in luxury eyewear in Argentina in 2020. The global leader in eyewear offers a wide range of prestigious designer eyewear brands in the country, including Armani Exchange, Bvlgari, Burberry, Dolce & Gabbana, Emporio Armani, Giorgio Armani, Michael Kors and Prada, among many others.
As consumers are more aware of ocular health, store consultations are expected to remain key for category recovery over the forecast period. The primacy of optical stores in sales of luxury eyewear derives mainly from the expert sales advice that is on offer in these retail outlets.
As consumers value convenience and time-saving services, e-commerce is expected to continue to grow over the forecast period, boosted by already loyal consumers who are expected to increase their online repurchases. Consumers that already know the product they want and are certain of the style that suits them (for both spectacles and sunglasses) will increasingly prefer online shopping; therefore, an omnichannel presence will be key for brands to remain relevant going forward.
As the local currency continues to devalue against the US dollar and the economic situation in the country worsens, official imports have raised prices and increased space for the illegal market. As online shopping expands, illicit players have increased their offer.
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Understand the latest market trends and future growth opportunities for the Luxury Eyewear industry in Argentina with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This is the aggregate of luxury sunglasses and luxury spectacle frames.See All of Our Definitions
This report originates from Passport, our Luxury Eyewear research and analysis database.
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