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52 posts categorized "Eyewear"

May 12, 2015

Brazil's Business Environment: Consumption in Economic Slowdown

250_brazilBusiness-v1.0On the surface, Brazil looks like an attractive market. It is the seventh largest global economy and has a population of 200 million, with high consumer expenditure and high demand for commodities.
But Brazilians are spending less, industrial confidence is deteriorating, and inflation is rising, meaning a future of slow growth and economic recovery.

Consumer goods companies operating in Brazil need to adapt their strategy to integrate the global market place. What are the reasons behind this slowdown and how can organisations work it to their advantage? 

Download our white paper today to learn:

› How Brazil’s rapid currency depreciation has affected its economy and consumers 

› Which consumer industries are slowing down and which have new opportunities

› Why the middle class is changing Brazil’s economic landscape

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May 3, 2015

Brand Equity Poised to Drive Eyewear Growth: Part 2 (Retailers)

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

As a continuation of an earlier opinion article on branding for eyewear manufacturers, this article takes a similar look at the retailers. Amidst a changing retail landscape for eyewear, it is important for eyewear retailers, particularly optical goods stores, to project a strong brand image to consumers. As eyewear is traditionally considered a healthcare industry, the power of consumer choice is usually underestimated relative to that of eye care practitioners (ECPs), which are perceived to hold a significant influence over a consumer’s eyewear purchases.

Continue reading "Brand Equity Poised to Drive Eyewear Growth: Part 2 (Retailers)" »

May 2, 2015

Brand Equity Poised to Drive Growth in Eyewear: Part 1 (Manufacturers)

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

As eyewear has traditionally been perceived as a medical device, sales have long been in the control of eye care practitioners (ECPs). Thus, manufacturers have prioritised building strong relationships with ECPs to push sales of their brands. However, in recent years, heightened competition and the repositioning of eyewear products have made branding to consumers more important than ever. In the first of a 2-part series, the significance of branding to various eyewear manufacturers is explored. The second instalment of this series will focus on a similar theme regarding branding, but from the perspective of eyewear retailers.

Launching innovative eyewear to build brand equity

Eyewear is moving towards mass consumerism as products are increasingly marketed as fashion and lifestyle products. The growing emphasis on building brand awareness is clearly seen in the kinds of product innovations brought to market. Eyewear manufacturer and retailers are introducing functional spectacles that can be worn for all kinds of novel uses other than for vision correction.

Continue reading "Brand Equity Poised to Drive Growth in Eyewear: Part 1 (Manufacturers)" »

April 28, 2015

Challenges and Opportunities in Targeting the Senior Consumer

250_seniorConsumer-v1.0The senior market is a lucrative market to explore. The population over 60 stood at 912 million in 2014, representing 12.6 percent of the global population. By 2030, this segment will account for 18 percent, reaching 1.5 billion globally. While China is the fastest growing ageing market with over 60s forecast to grow by more than 46 percent between 2014 and 2030, Japan has the oldest population, with a massive 33 percent aged over 60. Japan is a model on the impact of this demographic shift, showing the effects of different methods of governmental intervention and product development opportunities.

 

 

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Key findings:

  • E-health, home assistance and elderly-friendly services will drive technology developments in the senior market, with health being the most dynamic consumer expenditure category through 2030.

  • Efficacy and natural features remain key features when it comes to marketing beauty products to the over 60s.

  • Demand for luxury goods focusing on heritage and craftsmanship is popular among senior consumers.

  • As senior consumers usually invest in timeless, quality clothing, an older population will have a negative impact on sales volume in the apparel market.

  • Presbyopia represents a key market driver in eyewear.

March 29, 2015

Unilateral Pricing Policy Sparks Debate on Future of Optical Goods Store Retailing

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

In 2014, major contact lens manufacturers announced the implementation of retail price floors for leading contact lens brands, including popular brands such as Acuvue 1-Day Moist, Acuvue Oasys, Dailies AquaComfort Plus, Dailies Total 1 and Ultra. The mandate is widely criticised by consumers as a move by contact lens manufacturers to protect sales margins.

Issues of consumer health and choice closely intertwined

The more vocal eye care practitioners (ECPs) and related trade associations have voiced their support for the UPP. Contact lens online retailers, on the other hand, are doing whatever they can to obtain an injunction. Here’s the long and short of the many arguments made for and against the UPP – ECPs see the UPP as a preventative measure against showrooming, arguing that shopping around (particularly on the internet) undermines consumer health as patients would bypass regular eye checks and optical fittings. On the other hand, online retailers fear losing their cost advantage, thus protesting against what they see as a restriction of consumers’ choice. Consumers have voiced their dismay, many of whom are less likely to replace their lenses as frequently as before due to price increases, which compromises the safety of contact lens use.

Continue reading "Unilateral Pricing Policy Sparks Debate on Future of Optical Goods Store Retailing" »

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.

Continue reading "Bringing Vision Care to the “Base of the Pyramid”" »

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

 

Continue reading "The Rising Power of Female Consumers" »

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

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

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" »

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Recent Posts

Brazil's Business Environment: Consumption in Economic Slowdown

Brand Equity Poised to Drive Eyewear Growth: Part 2 (Retailers)

Brand Equity Poised to Drive Growth in Eyewear: Part 1 (Manufacturers)

Challenges and Opportunities in Targeting the Senior Consumer

Unilateral Pricing Policy Sparks Debate on Future of Optical Goods Store Retailing

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