New Market Research Report: Spectacles in Mexico

From: Fast Market Research, Inc.
Published: Mon Oct 12 2015

The increasing presence or new retail brands along with the tweak in following fashion trends amongst consumers have benefitted sunglasses, especially improving its value growth during 2015. Examples of its increased demand is reflected in the increased appearance of Coach outlets and selling spaces, even within department stores, for Kate Spade, Michael Kors and other brands there and in places like Sunglass Hut. Additionally, the retro trend amongst consumers has prompted many Mexicans to be more eager to change their older sunglasses to new ones more in the modern trend, namely the 80s trend. This trend has benefitted brands like Ray Ban, which has strengthened its sunglass positioning with its famous aviator model amongst both women and men alike. In terms of spectacle frames and lenses, hipster and other subculture trends have also boosted demand for these amongst consumers.

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Competitive Landscape

Augen Opticos led in spectacles with a 16% value share in 2014, closely followed by 1% Luxottica México SA de CV accounting for 15%. Augen Opticos holds a dominant position in spectacle lenses, accounting for a 62% value share in that category and benefits from being in the country for decades with high-quality renown. Luxottica holds the leading position in sunglasses and spectacle frames, with value shares of 24% and 18% in those categories, respectively in 2014.

Industry Prospects

Value sales of spectacles are expected to increase at a 4% CAGR at constant 2015 prices over the forecast period to reach Mx$31.2 billion in 2020. A strong sales booster is the increasing expansion of sunglasses kiosks like Sunglass Hut and malls construction which benefit the expansion of optical outlets, the latter being the leading channel for spectacles which is forecasted to keep accounting for over two thirds of the total value sales. Volume sales are expected to post a 4% CAGR as well.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Spectacles industry in Mexico 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 Mexico, our research will save you time and money while empowering you to make informed, profitable decisions.

The Spectacles in Mexico market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth

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You may also be interested in these related reports:

- Spectacles in Japan
- Spectacles in the US
- Spectacles in the United Kingdom
- Spectacles in Thailand
- Spectacles in Switzerland

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