Having registered a significant fall in sales in the previous year, spectacles is expected to see a return growth in 2021 supported by the reopening of physical stores. Following two months of store closures and a shortage of prescriptions in the March-May period of 2020, opticians were allowed to remain open for the rest of 2020 and have stayed open in 2021.
Progressive lenses and, to a lesser extent, readymade reading glasses are proving relatively resilient in spectacles. Rising demand for progressive lenses is being supported by the ageing of the French population.
The merger of the French company, Essilor, and the Italian player, Luxottica, has created a dominant entity in French opticians that is able to further impose its quotas for the distribution of its brands. The merger enables the new company to achieve significant synergies, and both Essilor lenses and Luxottica frames are gaining ground and reaching more and more consumers through increased distribution via physical stores and the e-commerce channel.
Spectacles is expected to see year-on-year growth throughout the forecast period despite the consequences of the health reform. Many retailers remain pessimistic about the continuing impact of the “100% Santé optique” reform due to the possible settlement of quotas at the end of 2021 or in 2022.
The COVID-19 crisis and the effects of the “100% Santé optique” reform will continue to influence the development of spectacles in the early part of the forecast period. E-commerce’s share of category value was extremely limited in 2019 but doubled in 2020 under the impetus provided by click & collect sales in retailers, as illustrated by the new fluid and transparent click-and-mortar approach of Krys.
Luxury frames are the gateway to luxury at high but affordable prices. Consequently, French luxury multinationals, LVMH and Kering, are working to take greater control of their eyewear businesses and improve their management of distribution.
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Understand the latest market trends and future growth opportunities for the Spectacles industry in France 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.
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This report originates from Passport, our Spectacles research and analysis database.
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