Sales of spectacles fell dramatically in 2020 as wearers were unable to visit optical shops throughout Q2, with many postponing their regular eye tests. They were also impacted financially, with many cutting down on unnecessary spending, including new spectacles.
Spectacle frames and spectacle lenses appeal to consumers with specific demand (in terms of design, brands, and quality) or people with specific vision problems for whom spectacles are ordered on prescription. Offering professional customer services and advice within optical stores is a common practice in Ukraine and one practised by leading company Luxoptika TOV.
Spectacles is strongly fragmented in Ukraine since it comprises many brands, particularly in spectacle frames and readymade reading glasses. Apart from well-known international brands (such as Nikon, Ray-Ban, and Polaroid), there is also a wide assortment of unknown brands available, especially of Chinese origin, and at times such products’ brand names are even unidentifiable.
Over the forecast period, spectacles is expected to experience increasing pressure from contact lenses, with the latter set to steal share and prevent a full recovery for spectacles. Young consumers will increasingly prefer contact lenses due to the convenience of use and the way such products complement their active lifestyles.
The store closures during the pandemic forced optical shops to realise that an online presence is necessary to engage with customers and promote sales, even when stores are shut. As such, larger retailers and eyewear start-ups, which are most often digitally-native, are set to fare better than small independent optical shops, which might not have the financial resources to invest in an omnichannel approach and a strong e-commerce presence.
Average unit of spectacles are set to grow in the coming years, with branding power starting to gain more importance as disposable incomes increase. Private label is expected to grow in share as such players cater for price-sensitive consumers.
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Understand the latest market trends and future growth opportunities for the Spectacles industry in Ukraine 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 Ukraine, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Spectacles research and analysis database.
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