Sunglasses in Ukraine

2021 DEVELOPMENTS

Consumers continue to economise keeping the current value growth small

The lockdown, travel restrictions and retail closure measures introduced by the Ukrainian government in March 2020 to contain the spread of the COVID-19 pandemic, negatively impacted volume sales of sunglasses as consumers were spending less time outdoors and were unable to travel to sunny destinations at home or abroad. However, once restrictions were lifted, people were able to visit non-essential retail outlets selling sunglasses, go outside for the whole day and travel abroad again.

Sunglasses still require development of “the culture of correct usage” in 2020

In the Ukraine, sunglasses are primarily purchased as items allowing consumers to enhance their image or style, with less attention paid to the quality of the sunglasses and their effectiveness in protecting the eyes from UV rays. This creates fertile ground for strong consumer demand for unbranded Chinese sunglasses or brand imitations, with these widely sold at outdoor markets, street kiosks, and small non-specialist retailers.

E-commerce grows as consumers continue shopping from the safety of home

In 2021, e-commerce will continue to grow its share in sunglasses as extended time at home and fear of contracting the virus force consumers to consider digital purchases. Although many Ukrainians prefer trying on sunglasses in-person to make sure the style fits and suits them, many also appreciate the wide assortment and promotional prices available online.

PROSPECTS AND OPPORTUNITIES

Continued growth prospects for sunglasses in line with pandemic receding

Over the forecast period, sunglasses is expected to see accelerating current value growth rates in line with the domestic economy and consumer confidence increasing. Furthermore, as social and travel restrictions are relaxed, Ukrainians will spend more time away from home and buy sunglasses more frequently.

Price to remain key purchase driver, though protection is also becoming increasingly important

In the early forecast period, unit prices will be an important factor in consumers’ choices of sunglasses. Brands offering a good balance of quality and affordability will be amongst the highly favoured ones as consumers continue to carefully consider their finances as well as strive to take care of their health.

Long-term strong sales anticipated for luxury brands as consumers purchase brand name to show off status

In the long-term, luxury brands face the best growth prospects. As the threat of COVID-19 dissipates and life returns to some level of normality, the economy will also improve.