Sunglasses in Sweden

PROSPECTS

Sunglasses has the most potential of all eyewear categories as consumers become aware of the harm caused by UV light

Retail sales of sunglasses continued to record a modest performance in 2019. An exceptionally dry and hot summer in Sweden helped secure a boost in volume sales compared with the preceding year, as most consumers were informed about the dangers of extended exposure to the sun’s UV rays.

Optical shops could expand the consumer base through subscription schemes

Unlike for spectacles, the purchase location for sunglasses is skewed towards retail stores rather than opticians, with optical shops dominating sales. This creates greater demand for brands in sunglasses, because the brand can signal quality to the consumer.

Embracing new technology could pave the way to long-term growth

Design remains a major purchasing consideration, but new functionality offers potential for the forecast period. Swedish consumers are concerned with both form and function in regard to their sunglasses.

COMPETITIVE LANDSCAPE

Luxottica Nordic still puts other players in the shade, though greater competition is being seen

Luxottica Nordic continued to lead value sales of sunglasses in 2018, mainly thanks to Ray-Ban’s performance as the first-ranked brand. However, this brand and the company in general lost some value share over the review period, facing strong competition from rapidly emerging names such as Tom Ford, owned by third-ranked player Marcolin Nordic AB.

Augmented reality apps and low overheads hold the key to internet retailing growth

The value share of internet retailing remains moderate in sunglasses, but has the potential to increase substantially over the forecast period as Swedish consumers, and particularly the younger generation, are becoming more comfortable with online shopping. One of the reasons is that there are improved platforms for testing new looks virtually, such as Virtual Try On from Specsavers and Stylelab from Synsam.

Kering looks to capitalise on the luxury segment, while a wide distribution strategy is increasingly important

Since the beginning of the review period, Kering SA has worked to maximise the strategic focus and design of its luxury brands in eyewear. A more interesting, consistent and novel design could attract more consumers in Sweden considering that they are more concerned about these factors than about the brand.

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