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47 posts categorized "Eyewear"

March 13, 2015

Bringing Vision Care to the “Base of the Pyramid”

Chloe WuAnalyst Insight by Chloe Wu - Personal Accessories and Eyewear Analyst

Businesses operating in emerging markets are looking beyond the higher-income brackets, towards the “Base of the Pyramid” (BoP) – the economic segment that operates in an informal economy and has an annual per capita income of less than US$3,000 in purchasing power parity, as defined by the World Bank Group. Yet this group has substantial purchasing power combined: the BoP constitutes a US$5 trillion global consumer market, after adjusting for purchasing power parity. The BoP mainly resides in rural towns, where the population is fragmented, products not evenly distributed and the market unpenetrated. Unlike in the cities, rural markets have little or no direct competition between products. 

Within eyewear, there are examples of BoP strategies executed successfully, but such successes are few and far between due to the many challenges faced. Nevertheless, the BoP represents a huge untapped market for eyewear players. According to the World Health Organization’s estimates in August 2014, 285 million people are estimated to be visually impaired (suffering from refractive errors, cataracts, glaucoma or blindness). Notably, 90% of the world's visually impaired live in low-income settings.

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March 4, 2015

The Rising Power of Female Consumers

Female-Consumer-Banner

The global female population totalled an estimated 3.6 billion in 2014 and is expected to reach 4.2 billion by 2030. Average disposable income amongst women is the highest it's ever been, and women are living longer than men.

What are you doing to reach this growing market?

Recording
View now to learn:

  • The size and distribution of the female consumer market
  • Literacy and education rates
  • Labour participation
  • Purchasing power

 

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January 12, 2015

What to Expect in the Spectacles Market in 2015

In 2015, we expect spectacles players to create brand resonance by reaching out directly to consumers with vertically integrated business operations. We also expect to see luxury brands buy back their licenses from manufacturers in an effort to combat brand dilution. Watch the video for complete insights.

Chloe WuVideo features Chloe Wu - Personal Accessories and Eyewear Analyst

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January 10, 2015

What to Expect in the Contacts Market in 2015

Major contact lens manufacturers are feeling the heat from steeper competition from internet retailers and local brands. To compete, major lens brands have been exploring smart contact lenses and other big-budget innovations in an attempt to find the next major growth driver in the industry. Watch the video for complete insights.

Chloe WuVideo features Chloe Wu - Personal Accessories and Eyewear Analyst

Continue reading "What to Expect in the Contacts Market in 2015" »

December 15, 2014

Rationalising Intel’s Collaboration with Luxottica on Smart Glasses

Chloe WuAnalyst Insight by Chloe Wu - Personal Accessories and Eyewear Analyst

It has not been more than a year since Google Glass was first sold commercially to the public, and, despite an overall tepid reaction towards Google Glass, Luxottica is now forging ahead with yet another attempt at smart glasses.

This time, the eyewear juggernaut has teamed up with semiconductor giant Intel to produce smart eyewear. Essentially, Intel will provide engineering know-how, so that Luxottica can focus on industrial design, thereby keeping costs down and shortening the time to market.

Continue reading "Rationalising Intel’s Collaboration with Luxottica on Smart Glasses" »

November 27, 2014

Contact Lens Manufacturers Jumping on the Wearables Bandwagon

Chloe WuAnalyst Insight by Chloe Wu - Personal Accessories and Eyewear Analyst

As early as 2007, smart contact lenses had already caught the interest of medical and academic institutions.  Sensimed, a Swiss medical device company, developed a contact lens with embedded electronics that could monitor intraocular pressure continuously and non-invasively, as a measure of a patient’s blood glucose level. Academic institutions such as the École Polytechnique Fédérale De Lausanne are following suit.

Developing smart contact lenses requires niche expertise from various disciplines, and thus was an unexplored area for contact lens manufacturers until 2014. In July 2014, Novartis joined hands with Google to develop both a glucose-detecting contact lens and one with auto focus functions for those with presbyopia. Other participants joining in the fray include contact lenses manufacturers, namely The Cooper Companies and Johnson & Johnson. In the past few months, Johnson & Johnson has been filing patents for developing smart contact lens, the most notable of which details a “removable media insert” in hydrogel lenses. This indicates a possible desire to bring down the cost of smart disposable lenses, which is necessary if Johnson and Johnson decides to market the smart lenses in consumer retail.

Continue reading "Contact Lens Manufacturers Jumping on the Wearables Bandwagon" »

October 31, 2014

Asia Pacific drives Global Cosmetic Lenses

Emi_globalLenses-v1.1

With the global society embracing individuality, image conscious consumers are increasingly experimenting with cosmetic contact lenses as a fashion accessory. Asia Pacific, namely the oriental countries such as Japan, Taiwan and China, are experiencing huge demand for cosmetic lenses. These consumers, mostly youths and the young working adults look to circle lenses (or limbal ring lenses) which allows for the appearance of a larger eye effect.

 

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September 2, 2014

Five Key Findings in Eyewear

Euromonitor International recently released 2014 data for our Passport: Eyewear research database. Watch the video to learn five key findings from our research.

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August 22, 2014

Why Cooper’s Latest Acquisition is Bigger than it Seems

Chloe WuAnalyst Insight by Chloe Wu - Personal Accessories and Eyewear Analyst

The Cooper Cos recently completed its acquisition of UK-based Sauflon Pharmaceuticals, a privately owned global manufacturer of contact lenses and aftercare solutions. The transaction, closed at US$1.2 billion, has generated a muted reaction. This is perhaps due to Sauflon being relatively under the radar, ranked 10th in global contact lens value sales with a market share of less than 5% in 2013. While the acquisition is not likely to change the global hierarchy, at a closer look, it signals a significant shift in competitive dynamics within the industry.

Competing in High-Growth Markets

Scanning the global landscape, the US has traditionally been the largest contact lens market, but it lags in growth when compared to other regions. Western Europe is forecast to be the fastest-growing region for contact lens value sales in 2014, which makes it an important market for contact lens players. Cooper, having acquired Sauflon, would now have a share of more than 10% in the daily disposable market in Western Europe. This puts it in third place behind heavyweights Johnson & Johnson and Novartis and also eliminates to some extent the rising competitive concerns that Cooper may have about Sauflon rapidly catching up with it in Europe.

Continue reading "Why Cooper’s Latest Acquisition is Bigger than it Seems" »

August 12, 2014

Will Google’s Smart Contact Lenses Take Off?

Chloe WuAnalyst Insight by Chloe Wu - Personal Accessories and Eyewear Analyst

Google is investing its money in a product that has a noble cause. It is developing contact lenses that would help diabetics track their blood glucose levels, and possibly another application of “accommodative vision correction”. This means that instead of switching between reading glasses and regular glasses, these lenses would adjust based on the reading distance. In comparison to the previously launched Google Glass, the smart contact lens is surely a more exciting and enabling product concept. Beyond its small form, it represents something much larger – the advancement of healthcare and miniaturisation of technology. While technology has been revolutionising eyewear in the form of gawky augmented reality glasses and wearable sensors (think Jins Meme glasses used to track user fatigue levels), contact lenses are finally joining in the digital fray.

Continue reading "Will Google’s Smart Contact Lenses Take Off?" »

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Recent Posts

Bringing Vision Care to the “Base of the Pyramid”

The Rising Power of Female Consumers

What to Expect in the Spectacles Market in 2015

What to Expect in the Contacts Market in 2015

Rationalising Intel’s Collaboration with Luxottica on Smart Glasses

Contact Lens Manufacturers Jumping on the Wearables Bandwagon

Asia Pacific drives Global Cosmetic Lenses

Five Key Findings in Eyewear

Why Cooper’s Latest Acquisition is Bigger than it Seems

Will Google’s Smart Contact Lenses Take Off?