Sales of luxury eyewear were negatively impacted by the COVID-19 pandemic in 2020 with a steep fall in demand due to store closures and consumers refraining from spending on more expensive items. Prior to the crisis, the prospects for luxury eyewear were positive, triggered by a rising interest by Dutch consumers in purchasing luxury fashion accessories, with manufacturers investing in new products to encourage consumers to purchase them more frequently to vary their look.
The shift towards e-commerce is generating a further decline in unit prices for luxury eyewear. Dutch consumers are interested in purchasing more expensive brands of spectacles and sunglasses, but they search online for the best prices and in-store promotions.
The market for luxury eyewear shows a high degree of concentration among international players that have the license for renowned global brands, including EssilorLuxottica and Safilo Group. To counteract increased competition in categories such as sunglasses, leading brands such as Ray-Ban invested to expand the range of products offered, including a greater variety of spectacles frames.
Luxury eyewear is expected to show slow gradual recovery going forward following the cautious attitude towards spending and eroded consumer confidence caused by the COVID-19 pandemic as Dutch consumers are interested in experimenting with their look and Dutch men are increasingly interested in their personal image. Specific products such as luxury sunglasses will see more positive prospects, encouraged by the good weather prevailing in the Netherlands.
Further growth of smaller niche brands with a focus on a handmade, artisanal production process and sustainability is expected in the luxury eyewear segment. This includes brands such as Mykita which have built a larger distribution network in luxury optical stores with promotional material and advice, contributing to increased consumer awareness of these brands as an alternative to more traditional products in spectacle frames.
As with other luxury products, the specialist retailers channel is being impacted by a shift towards non-store retailing, more specifically online sales. More specialists are also promoting their e-commerce offer with webshops through which consumers are able to inform themselves about new products as well as seek advice and make purchases online.
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Understand the latest market trends and future growth opportunities for the Luxury Eyewear industry in Netherlands with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Luxury Eyewear research and analysis database.
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