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Strategy Briefing

Where Consumers Shop for Eyewear

Feb 2020

US$1,325

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About This Report

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

While traditional store-based retailing, led by optical shops, is expected to retain significant influence over sales of eyewear, traditional channels will face rising pressure from the growing sophistication of internet retailing in sales of sunglasses, contact lenses and spectacle frames. Additionally, merger and acquisition activity at the highest levels of eyewear manufacturing and retailing will see the independent sector increasingly under pressure.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

Key findings

Increase in disposable income and younger generation reshape global pet care market

Growth in the global pet care market remains strong following rising incomes. Pet care spending is closely related to income, as consumers that earn more are able to devote more disposable income to their pets. Millennials or Generation Z continue to become more prominent as pet parents and are reshaping the pet care market in several important ways.

Emerging markets a key area for growth

North America and Western Europe remain the epicentre of pet care as pet humanisation and premiumisation trends are well established. Having said that, emerging markets in Asia Pacific and Latin America show great potential for growth within the pet care market.

Store-based retailing under pressure

Store-based retailing still dominates the retailing landscape within the pet care market; however the industry is undergoing a significant transformation due to the rise of internet retailing. Pet shops and superstores are expected to be under the most pressure given the changes in the retailing landscape. However, to become more resilient, pet shops and superstores will continue to offer professional advice and value-added services to keep pet parents coming back.

Internet retailing’s intrinsic convenience is key to its success

The big selling point for e-commerce is the convenience of shopping online on your own time. The ease of product comparisons and instant reviews also fuel growth within the pet care industry.

Veterinary clinics benefit from spending on pet healthcare, which also fuels research and development

Pet humanisation significantly influenced the pet healthcare industry by driving research and development in this segment. This in turn helped increase sales through veterinary channels, boosting this important distribution channel for pet care.

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Introduction

Scope

Executive summary

Industry Snapshot

Demographics and fashion focus boost eyewear demand

Spectacles lead in absolute value growth

Asia Pacific expanding global eyewear influence

Channel Shifts

Store-based retailing sees gradual decline in influence

Store-based retailing retains leadership across categories and markets

Store-Based Channels

Store-based snapshot in 2019

Optical shops lead store-based sales by significant margin

Optical shops grow on demand for high-end lenses

Leading companies in optical goods stores

Retail consolidation boosting consumer access to spectacles

Top Four Trends Shaping the Industry

GrandVision acquisition enhances EssilorLuxottica’s retail dominance

Role of modern grocery retailing in eyewear

Hypermarket leaders sustain investment in global eyewear

Non-Store Channels

Internet retailing sees rapid development across categories

Online sales driven up by cost concerns and demand for convenience

Consumer shopping motivations show clear split

Internet retailing sees rapid growth in developing markets

Future Developments

Demographic trends and emerging markets boost eyewear demand

E-commerce growth threatens optical shops through appeal to Gen Z

Competitive pressures to see optical shops adapt

Omnichannel development in eyewear retail

Key Findings

Executive summary

Appendix: Competitor Analytics

Competitor Analytics tool

Overview

Competitors

Market overlap

Treemap

Overlap matrices

Appendix: Industry Forecast Model

About Euromonitor International’s Industry Forecast Model

Soft drivers and the Industry Forecast Model

Growth decomposition explained

Significance and applications for growth decomposition

Key applications for Industry Forecast Models

Appendix: Via Pricing

About Via Pricing from Euromonitor International

Why buy this report?

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Megatrends

Strategy Briefing

Where Consumers Shop for Eyewear

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

Key findings

Increase in disposable income and younger generation reshape global pet care market

Emerging markets a key area for growth

Store-based retailing under pressure

Internet retailing’s intrinsic convenience is key to its success

Veterinary clinics benefit from spending on pet healthcare, which also fuels research and development

Want to find out more about this report?

Table of Contents

Introduction

Scope

Executive summary

Industry Snapshot

Demographics and fashion focus boost eyewear demand

Spectacles lead in absolute value growth

Asia Pacific expanding global eyewear influence

Channel Shifts

Store-based retailing sees gradual decline in influence

Store-based retailing retains leadership across categories and markets

Store-Based Channels

Store-based snapshot in 2019

Optical shops lead store-based sales by significant margin

Optical shops grow on demand for high-end lenses

Leading companies in optical goods stores

Retail consolidation boosting consumer access to spectacles

Top Four Trends Shaping the Industry

GrandVision acquisition enhances EssilorLuxottica’s retail dominance

Role of modern grocery retailing in eyewear

Hypermarket leaders sustain investment in global eyewear

Non-Store Channels

Internet retailing sees rapid development across categories

Online sales driven up by cost concerns and demand for convenience

Consumer shopping motivations show clear split

Internet retailing sees rapid growth in developing markets

Future Developments

Demographic trends and emerging markets boost eyewear demand

E-commerce growth threatens optical shops through appeal to Gen Z

Competitive pressures to see optical shops adapt

Omnichannel development in eyewear retail

Key Findings

Executive summary

Appendix: Competitor Analytics

Competitor Analytics tool

Overview

Competitors

Market overlap

Treemap

Overlap matrices

Appendix: Industry Forecast Model

About Euromonitor International’s Industry Forecast Model

Soft drivers and the Industry Forecast Model

Growth decomposition explained

Significance and applications for growth decomposition

Key applications for Industry Forecast Models

Appendix: Via Pricing

About Via Pricing from Euromonitor International

Why buy this report?

Want to find out more about this report?

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