While sunglasses is on track to return to current value and retail volume growth in 2021, sales will continue to be negatively impacted by restrictions stemming from the pandemic. Indeed, 2020 saw sales drop as international travel restrictions reduced demand.
Lockdown restrictions continue to permeate throughout Canada in 2021 moderating the recovery of sunglasses. For instance, EssilorLuxottica SA’s direct retail sunglasses brand Sunglass Hut, with over 90 Canadian locations, continues to be negatively affected by the lockdowns lasting into 2021 in provinces such as Ontario.
In 2021, e-commerce is expected to solidify its gains even as consumers return to in-store shopping since COVID-19 risks are diminishing. As a result of the pandemic, direct-to-consumer players have been forced to enhance their online shopping experience with digital innovations.
Retail volume and current value sales of sunglasses are set to strengthen in 2022 and 2023 before returning to some level of normalisation for the remainder of the forecast period. Notably, the recovery of sunglasses is expected to continue lagging behind the recovery of spectacles as sunglasses is dependent on the recovery of international travel, which will be slow.
In the forecast period, sunglasses positioned for athletic purposes may have a unique opportunity for growth. Indeed, Canadian consumers have indicated hesitancy in terms of returning to gyms even after the threat of COVID-19 recedes.
The forecast period will hold opportunities for prescription and plano sunglasses. Indeed, the penetration rate of plano sunglasses in Canada continues to lag behind the US.
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Understand the latest market trends and future growth opportunities for the Sunglasses industry in Canada 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.
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This report originates from Passport, our Sunglasses research and analysis database.
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