The pandemic has had a significant impact on channel distribution for players within the eyewear industry, as it has forced many of them to review their business models and embrace digital transformation. The shift to e-commerce has been extremely important, as it allows consumers to try purchasing spectacles online from the comfort of their homes.
In times of increasing competition, changing consumer preferences, technological advancements and globalisation, there is an increasing number of mergers and acquisitions among eyewear players in an attempt to increase efficiency and profitability. With Lenskart’s recent acquisition of a major stake in Owndays, in terms of global brand ownership Lenskart has gained considerable share within spectacles, while it is expected to also extend its presence in several other Asian markets.
The competitive landscape of spectacles in Singapore is fairly consolidated, with a small number of established players dominating value sales. However, in recent years, many domestic players have emerged and become successful in carving out a niche for themselves as well as attracting local consumers.
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Understand the latest market trends and future growth opportunities for the Spectacles industry in Singapore 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 Singapore, 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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