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The Impact of Coronavirus on Eyewear

  • ID: 5134061
  • Report
  • July 2020
  • Region: Global
  • 45 Pages
  • Euromonitor International
Coronavirus (COVID-19) has had - and is having - a profound impact on the eyewear industry. Despite the essential and medical nature of many eyewear references, the industry is going through unprecedented disruption across manufacturing, distribution and consumption as a result of the pandemic. COVID-19 has exposed industry inefficiencies and is acting as a catalyst for the rapid deployment of e-commerce capabilities while enhancing fully digital shopping journeys.

The Impact of Coronavirus on Eyewear global briefing offers detailed strategic analysis of the global Eyewear market by pinpointing growth sectors, emerging trends, economic/lifestyle influences, highlights categories and geographies as well as pressing industry issues that are driving growth. The report identifies leading companies and brands within the competitive landscape, which feeds into shaping marketing and distribution strategies. From the latest cosmetics and coloured contact lenses to prescription glasses and frames, the publisher offers an incisive snapshot of the Eyewear industry. Forecasts illustrate how the market is predicted to develop, regulatory shifts as well as opportunities to be seized for further growth.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?
  • Get a detailed picture of the Eyewear market;
  • Pinpoint growth sectors and identify factors driving change;
  • Understand the competitive environment, the market’s major players and leading brands;
  • Use five-year forecasts to assess how the market is predicted to develop.
Note: Product cover images may vary from those shown

INTRODUCTION
  • Scope
  • Key findings
  • Eyewear and COVID-19

ECONOMIC OUTLOOK
  • Global economy will contract sharply in 2020
  • The COVID-19 pandemic impacts both supply and demand
  • In our baseline view, the pandemic peaks in summer 2020
  • Three scenarios examine the impact of a more severe outbreak
  • Our view in short
  • Forecast real GDP growth in 2020 under different scenarios
  • Fiscal stimulus a challenge with restrictions on expenditure
  • What could alleviate the economic effects of the pandemic?
  • What could exacerbate the economic impact of the pandemic?

INDUSTRY IMPACT
  • Eyewear revenues down in 2020
  • COVID-19 impact at a glance
  • Routes to disruption
  • Macroeconomic indicators and forecasts are grim
  • Industry players expect substantial revenue losses in 2020
  • Sunglasses to post sharpest decline amid eyewear
  • No shift from contact lenses to spectacles
  • Rapid shift to e-commerce and further digitalisation
  • Overall market dynamics

GEOGRAPHIC IMPACT
  • Global eyewear revenues down by 14% in 2020
  • Asia Pacific revenues among the least affected
  • Western Europe struggles with depressed domestic and foreign demand
  • North America drives over a third of global revenue loses

CORPORATE RESPONSE
  • Main challenges for eyewear players
  • E-commerce uptake to accelerate on tele-optometry experience
  • Pandemic pressure exposes gaps in e-commerce infrastructure
  • EssilorLuxottica : retail partner support key to recovery
  • Alcon AG: messaging to sustain contact lens demand
  • Specsavers opens route to lockdown consumers with RemoteCare
  • Ace & Tate introduces online styling advice and virtual try-ons
  • Safilo Group SpA: goodwill initiative for own brands

CONCLUSION
  • Key insights: short-, medium- and long-term effects
  • Outlook for eyewear
Note: Product cover images may vary from those shown