Eyewear in the US

Sep 2015 | Pages: 35


EXECUTIVE SUMMARY

US eyewear market experiences positive development in 2015

The US eyewear market continued to see healthy growth in 2015. The demand for eyewear remained positive, as the US population is more exposed to digital technology. The young generation, which is in the process of vision development, is spending more time indoors watching TV, playing video games, interacting with various electronic devices, which is increasing the risk of vision problems occurring at such a younger age. In addition, middle-aged to senior consumers typically experience vision problems, medically known as presbyopia, and look for prescription eyewear or readymade reading glasses to treat this condition. Similarly, eyeglasses and sunglasses have become popular style statements. Consumers enjoy purchasing eyewear not only to replace old models and correct their vision but also to update their appearance. Manufacturers are actively launching new eyewear with different shapes and styles to capitalise on this growing trend.


Large eyewear players are increasingly focusing on expanding their presence into internet retailing

Eyewear manufacturers continue acquisition strategies, especially in terms of online retailers. In spectacles, two large global players, Luxottica Group SpA and Essilor International acquired online retailers, namely glasses.com (by Luxottica Group SpA) and coastal.com (by Essilor International). These acquisitions will give the large players an opportunity to build stronger presence in online retailing, which is the fastest growing retail channel in the US eyewear market. In contact lenses, CooperVision Inc completed its acquisition of Sauflon Pharmaceuticals. This acquisition helps CooperVision to implement new product development, especially within silicone hydrogel material daily disposable lenses, a rapidly growing subcategory.

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