Press release -
US eyewear market controlled by Luxottica and Essilor
The US eyewear market has been forecast to recover poise and gain steady momentum in the short to medium term period. This projected growth in the market will be primarily driven by factors such as rise in refractive disorders, increase in the number of ageing individuals and growing awareness over the importance of eye protection.
Eyewear has, over the years, shed its utilitarian image of being just a vision correction contraption to become a key fashion accessory. Innovative materials for lenses and frames and other technological advances have resulted in several new designs with better aesthetic appeal, style and quality.
Contact lenses once again outperformed spectacles in 2012, continuing a trend that has been ongoing for many years. Americans are increasingly turning to contact lenses as their primary form of vision correction for reasons ranging from comfort and convenience to cosmetic appeal and practicality in athletics.
Luxottica, which owns multiple brands such as Oakley and Ray-Ban, as well as retailers such as LensCrafters, Pearle Vision and Sunglass Hut, emerged as the leader of the US eyewear market in 2011, with a value share of nearly 17%, while Essilor remained a close second, with a value share of more than 16%.
Luxottica dominates spectacle frames and sunglasses, commanding value shares of 33% and 28%, respectively, in 2011. Essilor, on the other hand, led spectacle lenses with a share of nearly 38% in 2011.
While still the dominant retail distribution channel for eyewear, optical shops face growing threats from alternative channels. Hypermarkets, warehouse clubs, and mass merchandisers, which appeal to consumers for their combination of low prices and convenience, were able to grow their value share in recent years.
At the same time, the rapid growth of internet retailing benefitted specialists such as 1-800 Contacts.
For more information on the US eyewear market, see the latest research: US Eyewear Market
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Topics
- Health, Health Care, Pharmaceuticals
Categories
- us eyewear market
- us eyewear industry
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