This report identifies the five out of Euromonitor International’s Top 10 Global Consumer Trends that are expected to have the most impact on the eyewear industry in the near future. It explores the changes in consumer values and behaviour driving the trends, the impact on businesses in eyewear, and examples of company responses both from within the eyewear market and from other industries.
This report comes in PPT.
COVID-19 fast-tracked the adoption of climate change initiatives by the eyewear industry by several years. Consumers are now seeking a deeper understanding of the risks of a changing climate, and eyewear companies must continue to respond to stay competitive in the marketplace.
Digital seniors are an increasing population, with strong buying power, and are a force to be reckoned with. Eyewear players could take a leaf from the consumer health industry’s book and stop relying on traditional methods to reach this elderly cohort.
The eyewear industry has the answer to the Socialisation Paradox, which has been to give consumers multiple ways of ordering spectacle frames, sunglasses and contact lenses to ensure safety. Practices are now looking towards an omnichannel future as the best way to address these changing consumer habits and assist the patient at all touchpoints.
Eyewear businesses will do well to learn from other industries, such as packaging, when relating to the Self-Love Seeker on how to connect with the human emotions through well-crafted packaging designs.
Embracing smart eyewear will be crucial for eyewear players to create new opportunities, with the aim to reach consumers who are spending more time than ever at home. Smart glasses will no doubt play into the metaverse movement in the long term.
Eyewear is the aggregate of contact lenses, spectacles and sunglasses.
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