Luxury eyewear in Turkey showed a much improved performance in 2021, with the rate of volume sales decline slowing dramatically as compared to 2020 and current value sales returning to growth. The category saw demand pick up from the second quarter of the year as the national COVID-19 vaccination programme allowed for the easing of public health measures that had restricted the operation of optical goods stores and mixed retailers, and made Turks less apprehensive about visiting opticians to obtain eye exams and prescriptions.
Luxury sun glasses posted faster growth in current value sales than luxury spectacle frames in 2021, and also recorded a lower rate of decline in volume terms. Demand for these products improved from early summer onwards as the easing of public health restrictions allowed Turks to spend more time outside the home and start regularly travelling again.
The widespread sale of counterfeit products by street traders and some specialist retailers has long been a major challenge for luxury eyewear players in Turkey. The threat from counterfeit versions intensified in 2021 as the rapid depreciation of the lira drove up unit prices for genuine brands and fuelled a wider increase in the general cost of living, making many consumers more budget-conscious.
While demand for luxury eyewear looks set to continue improving throughout the forecast period, it is expected total volume sales will still be well below pre-pandemic levels by 2026. Trading conditions are likely to remain challenging in the short-to-medium term due to ongoing pandemic-related disruption, economic uncertainty and high inflation in Turkey.
Non-grocery specialists – which primarily comprises optical goods stores – is likely to remain the leading distribution channel for luxury eyewear in Turkey over the forecast period. As is the case on the manufacturing side, it is expected to witness increased consolidation in the wake of COVID-19.
The value share of e-commerce in luxury eyewear rose strongly over 2020-2021 as lockdown measures and concerns about community transmission of COVID-19 led more Turks to embrace online shopping. With many consumers having recently developed a greater appreciation for the convenience, extensive range of choices and capacity for easier price comparison afforded by this method, the channel’s value share is expected to continue increasing over the forecast period.
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Understand the latest market trends and future growth opportunities for the Luxury Eyewear industry in Turkey 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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