Sunglasses in Argentina

2021 DEVELOPMENTS

Sales of sunglasses shift online as consumers remain reluctant to shop in stores

2021 saw online sales of sunglasses remain robust after a huge increase was seen in demand for sunglasses via e-commerce during 2020. The obvious reason for the desire of consumers to shop online for sunglasses is the COVID-19 pandemic, which led the government to mandate restrictions on the operating hours and trading conditions for huge numbers of non-essential retail stores, including optical shops, the channel which accounts for the bulk of sunglasses sales.

New models are launched to attract the attention of consumers

With demand for sunglasses still under some pressure during 2021 due to the negative impact of the COVID-19 pandemic, several of the category’s leading brands sought to attract the attention of consumers by launching interesting new designs. Prominent among these actions was the introduction of a special line by Infinit sunglasses which has been co-designed by the well-known model Carolina “Pampita” Ardohain.

Sunglasses increasingly seen as fashion accessories, opening doors for higher sales

While most Argentinians have long regarded sunglasses as optical goods rather than personal accessories, general attitudes towards sunglasses are shifting. Specifically, people are increasingly likely to regard sunglasses as fashion items or personal accessories rather than optical goods.

PROSPECTS AND OPPORTUNITIES

A complex and challenging recovery ahead for sales of sunglasses

The anticipated recovery in sales of sunglasses is likely to be complex and challenging. Indeed, the forecast period promises to present numerous challenges and opportunities to the category’s leading players, with the unfavourable economic context and high inflation that the country has been experiencing since late 2018 exacerbating the negative economic impact of the COVID-19 pandemic.

Access to attractive consumer finance options likely to prove crucial to sales growth

One of the factors that tends to support sales in various consumer goods categories in Argentina is the option to pay for purchases in instalments. As in other countries in Latin America, many consumers in Argentina have access to a wide range of attractive credit options from retailers offering store cards and co-branded credit cards, among other consumer credit possibilities.

Sales to shift further to e-commerce as consumers increasingly value convenience

The convenience that online retailing represents is expected to underpin a significant shift in sales of sunglasses towards e-commerce during the forecast period. In addition to the lower prices that can often be found online, including special deals being offered by brands looking to liquidate current stock, many of the types of sunglasses available via e-commerce are not always available in stores.