With current value sales starting to pick up in the fourth quarter of 2020, spectacles is expected to continue to see recovery in 2021. Growth will be driven by pent-up demand and greater concern about eye problems, with the latter linked to longer screen time exposure during lockdown.
Spectacles’ competitive landscape remained highly fragmented in 2020, with smaller players accounting for a large share of value sales. International leader EssilorLuxottica SA is represented by two independently operating distributors, Essilor Optika and Plus-Optis, which were the leading players in 2020.
Pandemic-related restrictions motivated retailers to adapt their services to new realities towards the end of the review period. Even though optical shops were soon given permission to reopen in 2020, following the national lockdown, they could operate only at a very limited capacity.
Spectacles is expected to see the strongest current value growth across eyewear over the forecast period, reflecting growing rates of myopia and presbyopia among young and aging populations. However, a weaker Russian rouble will result in higher unit prices and continue to limit retail volume growth in the forecast period, with this impact further aggravated by declining disposable income levels among the general population.
In the forecast period, consumers are expected to become more selective when it comes to spectacles’ design and quality, demanding more multi-functional and price-friendly solutions. Frequent cases of unfair competition, such as when producers label products as manufactured in France or Italy instead of acknowledging that they are manufactured in China, have undermined consumers’ trust in the quality of products.
Another consumer behaviour trend that is expected to become more prominent in the forecast period will be a shift from traditionally strong brands in spectacle frames towards smaller niche collections. The trend will open more opportunities for smaller Russian brands.
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Understand the latest market trends and future growth opportunities for the Spectacles industry in Russia 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 Spectacles industry in Russia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This is the aggregation of spectacle frames, spectacle lenses and readymade reading glasses.See All of Our Definitions
This report originates from Passport, our Spectacles research and analysis database.
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