Sunglasses Stores in the US - Industry Market Research Report

Bright Lights: Industry Revenue is Expected to Grow as the Economy Rebounds from the Pandemic

Sunglasses Stores

The Sunglasses Stores industry has grown over the past five years to 2019. Consumers continue to rely on the expertise and vast product selection of industry operators. Moreover, rising disposable income amid improving economic conditions has boosted demand for luxury sunglasses, which command a higher price. While demand is on the rise, online retailers have lured a growing number of consumers with competitive prices and convenience, slowing growth and eroding market share of the industry's largest players. Major player Luxottica Group SpA (Luxottica) dominates the Sunglasses Stores industry with its popular Sunglass Hut and Oakley retail stores. Both companies are vertically integrated and manufacture their own sunglasses, enabling them to control costs and competitively price their products while maintaining favorable returns. Nonetheless, both companies have lost market share during the five-year period, resulting in a decrease in industry consolidation. Heightened competition from online retailers is expected to further limit consumer demand for sunglasses from brick-and-mortar retail stores over the five years to 2024. While many designers have opted to license their brands through optical manufacturing behemoths such as Luxottica, a growing number of online start-ups are designing and manufacturing their own sunglasses.

This industry predominantly sells sunglasses and related merchandise. The industry does not include companies that primarily sell eyeglasses, online retailers nor sales at optometrist offices.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.