Due to increasing awareness of eye health, partnered with vision loss being preventable and treatable, an increasing number of Australians have had their eyes tested in recent years and bought spectacles to correct their vision. Concern for eye health is, therefore, a key driver of demand for spectacle lenses, frames and readymade glasses.
Players’ concern for sustainability and corporate social responsibility is becoming a growing trend in eyewear in Australia, responding to consumers’ increasing desire to use companies with strong ethical policies. Therefore, some eyewear players have started to run Buy a Pair, Give a Pair programmes, where for every pair of glasses purchased, a pair will be provided to a child in need.
Specsavers Pty Ltd remained the clear leader in spectacles in 2020. The company’s mass market offer placed it in a stronger position to thrive in the highly price-sensitive environment resulting from the COVID-19 crisis.
Having seen the COVID-19 crisis lead to declining sales in the previous year, spectacles is set to see a return to growth in 2021. Growth is being supported by the easing of COVID-19 related restrictions and the return to more normal social and economic activity, and is expected to continue, year-on-year, throughout the forecast period, with sales set to exceed pre-COVID-19 levels in 2022.
E-commerce was already gaining ground in spectacles in the Australian market prior to the outbreak of COVID-19, with retailers improving their online presence to engage with, and retain loyal consumers. E-commerce sales grew considerably in the period immediately preceding the pandemic, with many players offering the option of buying spectacles directly online.
The severe economic impact of measures introduced to limit the spread of COVID-19 will inevitably affect some consumers choices when it comes to spectacles. Therefore, luxury eyewear players are likely to see an impact across the early forecast period, especially for those brands with higher price-points, including Gucci, Christian Dior and Dolce & Gabbana.
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Understand the latest market trends and future growth opportunities for the Spectacles industry in Australia 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 Spectacles research and analysis database.
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