Sunglasses is expected to see strong growth in 2021 as the easing of COVID-19 related restrictions and the revival of away-from-home lifestyles set the category on the road to recovery. The category is not expected to return immediately to pre-COVID-19 levels of sales, however, as continued restrictions on travel and high levels of consumer budget-consciousness act as constraints on growth.
Having experienced a trend of share decline as it faced increasing competition in the category, Luxottica Australia Pty Ltd reinforced its dominant position in sunglasses in 2020. The company’s strong position is founded on a portfolio containing some of the strongest brands in sunglasses, including Ray-Ban, Oakley, Prada, Burberry, Miu Miu and Armani.
During 2020, Kering Eyewear, the fifth largest player in sunglasses, strengthened its portfolio with the addition of the Chloé and Dunhill brands. Already responsible for the eyewear collections of Richemont’s Cartier, Alaïa, and Montblanc brands, Kering added Chloé, another Richemont brand, to its line-up.
Sunglasses is set to return to pre-COVID-19 levels of sales in 2022 and to continue to register healthy year-on-year growth throughout the forecast period. Growth will be driven by the easing of COVID-19 restrictions and the resumption of outdoor lifestyles.
Eye specialists were already in the process of improving their websites before the outbreak of COVID-19 and continued to do so as the pandemic magnified the importance of strong online operations. Sunglass Hut’s Australian website was redesigned to make navigation smooth for customers on both desktops and mobile devices.
The rise in consumer environmental-consciousness, and particularly increasing awareness of the issue of plastic waste, is exerting an increasingly strong influence on demand across a range of industries and playing a growing role in manufacturers’ strategies. The Ocean Cleanup Sunglasses, for example, are made using injected plastic derived from the Great Pacific Garbage Patch (GPGP).
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Understand the latest market trends and future growth opportunities for the Sunglasses industry in Australia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Sunglasses research and analysis database.
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