Spectacles in South Africa

PROSPECTS

Fashion trends help reduce traditional stigma associated with spectacles

Fashion trends are heavily influencing perceptions regarding the wearing of spectacles, replacing some of the stigma associated with wearing glasses for vision correction. Therefore, a wide range of spectacles frames, especially those from designer brands such as Ray-Ban, Diesel and D&G, attract more affluent as well as younger consumers who want to convey a certain fashionable look.

Stronger growth for affordable option of readymade reading glasses

Readymade reading glasses recorded higher demand in 2019, driven by the low pricing of these products compared to prescription spectacles, considering the challenging economy in South Africa which is placing a strain on consumers’ budgets. Consumers can select a pair of readymade reading glasses off the shelf, rather than having to wait to have their eyes tested if they already know the strength of spectacles needed.

Increasing prevalence of myopia on a global level will support the industry going forward

A report by the World Health Organization which stated that there was an increasing prevalence of myopia on a global level is indicative of the decline of eye health around the world, with the rising percentage of the South African population suffering from myopia included. The release of this report in addition to the need for corrective eyewear solutions due to an ageing population, continues to drive the need for affordable eyewear in South Africa.

COMPETITIVE LANDSCAPE

EssilorLuxottica looks to dominate eyewear over the forecast period with a wide range of brands and styles

Eyewear in South Africa continued to be led by Essilor SA (Pty) Ltd and Hoya Hill Optics (Pty) Ltd, due to their strength in spectacle lenses, while third-ranked Luxottica South Africa Pty Ltd, leads spectacle frames and sunglasses with high-end brands such as Ray-Ban and Oakley. The player benefits from a wide distribution network in the country, including its ownership of chained retailer Sunglass Hut.

Promotional activities by optical shops maintain consumer interest

With slowing demand for spectacle frames and lenses, optical shops are running more frequent promotions or extending their promotions on eyewear based on consumers’ needs. Specsavers and Execu Specs, owned by KFML Holdings Ltd, offer consumers the chance to obtain free prescription spectacles or sunglasses when they pay for an eye test and spectacle frames, or receive a discount on the purchase of spectacles on a certain day.

Technological innovation with the emergence of digital spectacles

With technological advancements being made in personal accessories such as smart watches, which attract more affluent South Africans, innovation has emerged with the launch of digital spectacles, which were first released by Google under the name of Google Glass, followed by Snapchat Spectacles. However, the initial reaction amongst consumers for these “smart specs” was not particularly enthusiastic due to their designs, in addition to safety and privacy issues.

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