With the continuation of snap lockdowns throughout the year due to COVID-19, many luxury brands as well as retailers continued to strengthen their e-commerce offering for luxury eyewear in 2021. For instance, Sunglass Hut Australia’s website was redesigned to ensure effortless navigation for customers using desktop and/or mobile technology.
Concern for sustainability and corporate social responsibility is becoming a growing trend amongst players in eyewear in Australia, responding to consumers’ increasing desire to use companies with strong ethical policies. This has also influenced competitors in luxury eyewear.
Despite the ongoing economic uncertainty, including Australian businesses being forced to close retail outlets due to snap lockdowns since March 2020, companies in luxury eyewear continued to invest in the local market through acquisitions, new products and licenses. For example, retailer Quay Australia was acquired by private equity Summit Partners in 2021.
Whilst early models have failed to win over consumers, smart glasses have the potential to become a disruptive force in luxury eyewear over the medium term. Global tech giants are investing heavily in this area, but such products are unlikely to pose a significant challenge to luxury eyewear brands during the forecast period, partly because there are still many design and functionality obstacles for developers to overcome, but also due to growing public concern about their implications in terms of privacy, safety and data security.
Luxury eyewear in Australia saw a rebound in 2021, supported by the easing of COVID-19 restrictions and the return to more normal social and economic activity. In the next five years, continued recovery and growth will be further supported by the opening of international borders, which will result in tourists returning to Australia.
The personalisation and customisation of luxury eyewear is seeing growing demand, with manufacturers of luxury sunglasses expected to focus more on developing and promoting bespoke products. While this trend is already well-established amongst independent eyewear operators, it remains a relatively untapped area for leading luxury brands.
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Understand the latest market trends and future growth opportunities for the Luxury Eyewear industry in Australia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Luxury Eyewear industry in Australia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Luxury Eyewear
This is the aggregate of luxury sunglasses and luxury spectacle frames.
See All of Our DefinitionsThis report originates from Passport, our Luxury Eyewear research and analysis database.
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