New Study: Spectacles in the United Kingdom

From: Fast Market Research, Inc.
Published: Fri Oct 02 2015

Fashion trends benefited sales of spectacle frames in 2015, with clear glasses notably becoming a fashion accessory sold by high street apparel and footwear specialist retailers such as Topshop. Clear spectacles also featured on catwalks for designers such as Gucci in 2015, while other designer brands such as Prada and Chanel are investing heavily in advertising for spectacles. There was also a growing tendency for celebrities to wear spectacles, even on the red carpet, with consumers also more likely to view spectacles as fashionable as a result. Thanks to these trends, spectacle frames indeed saw their first annual volume growth of the review period at over half a percentage point.

Competitive Landscape

Spectacles is dominated by international brands, although domestic player Specsavers leads with its private label range. Specsavers accounted for over 15% value share in 2014. This company benefits from being a strong leader in optical goods stores, with its private label range thus attracting many consumers thanks to offering affordable pricing and high quality. This company continued to gain share in optical goods stores in 2014, benefiting from refurbishing its stores and continuing to invest heavily in technology with the launch of its Virtual Dispensing Toolbox Measuring tablet system for accuracy. However, Specsavers' private label range saw a sharp drop in value share of almost half a percentage point in spectacles in 2014 over the previous year, as a return to stronger economic confidence encouraged more consumers to trade up to branded spectacle lenses and spectacle frames.

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Industry Prospects

Sales of spectacles are expected to benefit strongly from steadier economic growth in the UK in the forecast period, which will result in consumers becoming more willing to spend in this area. Consumers will become more likely to take eye health checks regularly as a result and will also continue to trade up to designer brands and higher-priced options such as progressive lenses. Spectacle frames will notably benefit from consumers viewing these items as a fashion accessory in the forecast period. Sunglasses will meanwhile benefit from consumers spending more on both fashion and travel.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Spectacles industry in United Kingdom with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Spectacles industry in United Kingdom, our research will save you time and money while empowering you to make informed, profitable decisions.

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