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1、The U.S. Eyewear Market: Prescription and Nonprescription Lenses, Sunglasses, Contact Lenses, and Frames, 2nd Edition June 2009 Packaged Facts 11200 Rockville Pike Rockville, Maryland 20852 800.298.5294 t 240.747.3095 f This page intentionally left blank Company Background Packaged Factsis a truste
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10、product concept and strategy development. This page intentionally left blank THE U.S. EYEWEAR MARKET: PRESCRIPTION AND NONPRESCRIPTION LENSES, SUNGLASSES, CONTACT LENSES, AND FRAMES, 2ND EDITION JUNE 2009 The U.S. Eyewear Market: Prescription and Nonprescription Lenses, Sunglasses, Contact Lenses, a
11、nd Frames, 2nd Edition has been prepared by Packaged Facts. Our market intelligence reports are specifically designed to aid the action-oriented executive by providing a thorough presentation of essential data and concise analysis. Vice President of Publishing Don Montuori Publisher Tatjana Meerman
12、Author Cogitamus Consulting Research Director David Sprinkle Communications Associate Daniel Granderson Publication Date June 2009 All rights reserved. No part of this report may be reproduced without permission of the publisher. Copyright 2009 Packaged Facts LA2091871 1-59814-273-9 This page intent
13、ionally left blank The U.S. Eyewear Market Table of Contents June 2009 Packaged Facts I Table of Contents The U.S. Eyewear Market: Prescription and Nonprescription Lenses, Sunglasses, Contact Lenses, and Frames, 2nd Edition Chapter 1: Executive Summary 1 Report Scope1 Report Methodology1 Categories
14、and Products.2 Market Size calculated from monthly data by Packaged Facts. Expensive Branded Eyewear May Suffer The big question is whether consumers will still feel the need to purchase fashionable brand name eyewear in the midst of an economic crisis as more pressing issues are at hand. For exampl
15、e, extravagant designer sunglasses by the likes of Bulgari, Chanel and Balenciaga with price points upwards of $500 may be taking a back seat to eyewear at lower price points with less elite branding. In fact, Italy-based Luxottica Group S.p.A. noted in a presentation of its first quarter 2009 resul
16、ts that its luxury brands were suffering the most as a result of the global economic downturn. Its wholesale segment, which distributes to third-party retailers, posted a 19% decline from the same period in 2008. Safilo Group S.p.A., which relies heavily on sales of licensed brands, saw its consolid
17、ated first quarter 2009 sales slump 12% from the same period in 2008. 0 10 20 30 40 50 60 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 1st Qtr2nd Qtr3rd Qtr4th Qtr Chapter 1: Executive Summary The U.S. Eyewear Market 14 Packaged Facts June 2009 Consumers
18、Not Vested in Eye Health While the eyewear industry will take a hit in terms of consumer spending, there is a further problem suppressing growth. Studies show that there is little consumer interest or concern in the functional health benefits of eyewear. This runs counter to the general trend toward
19、 health and wellness playing out in other consumer markets, suggesting that marketers may not be making the most of trends in the broader marketplace. According to the 2007 American Eye-Q survey by the American Optometric Association (AOA), consumers continue to practice poor eye care, despite the f
20、act that almost half of those surveyed value their eyesight the most of the five senses: 32% of consumers who wear contacts or glasses said they have not visited an eye doctor within the past year. Of respondents who dont use any corrective lenses, 35% admitted they have not visited an eye specialis
21、t in five years or longer. Managed Vision Care Influencing Purchases According to VisionWatch, an ongoing large-scale consumer research study by Jobson Optical Research and The Vision Council, 90% of 2008 growth in eyeglass purchases (including frames and lenses) among American adult consumers can b
22、e credited to those purchased with the assistance of managed vision care (MVC). For example, the number of frames purchased by the 112 million Americans with MVC coverage rose by 15% during 2008. Nearly 20% of future eyewear consumers with MVC coverage want to use their MVC and Flexible Spending Acc
23、ount (FSA)/Archer Medical Savings Account (MSA) benefits to make an eyeglass purchase before those benefits expire. The cost of vision care, eyeglasses and contact lenses will be a strain on many consumer budgets in the coming years, especially families. One way consumers will alleviate the strain i
24、s through defined contribution plans, such as MVC, FSA, MSA or Health Savings Accounts (HSA). Boomers Are Key Target Market Overall, the U.S. population is expected to grow at an annual rate of one percent through 2020 to reach 341 million people. But it is the 4564 year-olds and those over 65 who a
25、re expected to grow the fastest. By 2010, the 4564 age group, essentially the bulk of all Baby Boomers, will grow at double the national rate, or 1.9%, to reach 81 million people while The U.S. Eyewear Market Chapter 1: Executive Summary June 2009 Packaged Facts 15 those 65 and older will grow sligh
26、tly faster at two percent annually to more than 40 million people. By age 65, most people suffer loss of visual acuity to some degree. More than 78 million Boomers in the U.S. are either already presbyopic or becoming presbyopic. This is good news for manufacturers and retailers of eyewear products,
27、 since aging Boomer eyes will increasingly require glasses or contact lenses. Indeed, the failing eyesight of a growing aging population is one of the largest single factors buoying this market. Kids Eyewear Important Too Boomers are importantbut so are kids! According to 20/20s Kids Eyewear MarketP
28、ulse Survey 2008, children from infancy to 14 years old represented 20% of eyewear retailers customer base, up from 15% in 2007, and childrens eyewear and related products accounted for 15% of total gross dollar sales, up from 12%. (20/20, July 2008) Company Ethics and Added Values Important to Cons
29、umers As consumers have gotten smarter, they have also gotten more curious. Not only do they want to know about the specific functional benefits of products, they also want to know about the core brand and associated company values and beliefs. According to the second-annual, multi-country, Edelman
30、Goodpurpose study conducted in the fall of 2008, more than half of the 6,000 global consumers surveyed said that even in the midst of a recession they would be prepared to spend more for a brand if it supported a good cause. The most popular cause among consumers globally was protecting the environm
31、ent, and more than two-thirds of respondents said that they would be willing to pay more for eco-friendly products during a recession. There are many opportunities, such as offering frames made from recycled materials, green marketing initiatives, or day-to-day business decisions that are more eco-
32、friendly, such as printing catalogs on recycled paper. Recessionary Slump in Travel Will Impact Travel Purchases According to the Travel Industry Association of America (TIA), leisure travel will fall 1.3% nationally in 2009, and business travel will decline 2.7%. (Washington Business Journal, Novem
33、ber 3, 2008) With the expectation of higher job losses and rising inflation, it should be no surprise that the travel industry, particularly the airlines, is taking a hit. Translated to Chapter 1: Executive Summary The U.S. Eyewear Market 16 Packaged Facts June 2009 the eyewear market: Sales growth
34、of sunglasses and readers to the key travel end-market will likely slow if not decline. Global Warming Means the Sun Will Shine Even Stronger Scientists generally agree that the worlds climate is in a warming trend brought on by pollution. The year 2006 was the hottest year ever in the United States
35、 since recordkeeping began in 1895. And 2008 was the eighth warmest year on record, according to the National Climatic Data Center. These increasing temperatures are shocking enough, but what many people do not realize is that the intensified suns rays, due to the reduced ozone layer, more likely in
36、crease the possibility of skin cancers and cataracts. Marketers have an opportunity in playing up the health and safety benefits of eyewear products, especially since consumers are increasingly aware of health and wellness issues in other arenas. Counterfeiting, a Dangerous Business The United State
37、s is a top destination for counterfeits, with about $250 billion worth of scammed products crossing the border every year. In 2007, the U.S. Immigration and Customs Enforcement projected that total American job losses due to product counterfeiting was 1.4 million. According to U.S. Customs Bureau an
38、d other regulatory agencies, many counterfeit dollars are traced back to greater criminal threats such as organized crime, child labor, drug trafficking and terrorism. Imported counterfeit sunglasses and/or their parts reached a domestic value of $7.9 million in 2008 that was nearly double the estim
39、ated $4.0 million in 2007. (States News Service, March 11, 2009) Nevertheless, in the global economy, technology is helping to offset counterfeiting. As most business transactions are recorded electronically via global industry and government databases, crackdowns are becoming easier. Purchase trans
40、actions are logged, for both authentic products and often for fakes, which allow companies and law enforcement agencies to track down inconsistencies and follow a trail. The U.S. Eyewear Market Chapter 1: Executive Summary June 2009 Packaged Facts 17 Innovation and Design Trends Choice Enables Const
41、ant Consumer Evolution of Me Eyewear is a huge and increasingly diversified business, driven by a host of health, demographic, lifestyle and fashion trends. As a result, the market is being segmented ever more finely to meet the wide-ranging needs and desires of shoppers. This is seen in the diversi
42、ty of eyewear style trends, as there is no consumer urge to conform in terms of style. In fact, the urge now is to constantly evolve and change, as Americans continue to define, and re-define, themselves as individuals through their style choices. According to research by the Vision Council of Ameri
43、ca and Jobson Optical Research, 73% believe that a persons choice of eyeglasses reflects his or her personality. More than Function and More than Fashion As with peanut butter and chocolate, when function and fashion merge the result is far superior. Eyewear has emerged as a viable accessory in its
44、own right. According to stylist and optician Matthew Sakolsky of Morgenthal-Frederics in New York City, “Eyewear is much more than a fashion statement; its the ultimate functional accessory.“ He further claims that eyewear has replaced the handbag (another perfect union of form and function) as the
45、stylish accessory that makes the most personal statement of self-expression. (PRNewswire, December 19, 2008) For the foreseeable fashion future, eyewear will emerge as one of the less expensive ways for consumers to assert a personal design aesthetic and satisfy the urge for high-end labels. Sorry h
46、andbags. Classic Styles Return The most obvious trend in eyewear is reaching back to trusted classics and bringing them forward. “Everybody is going back to the icons,“ said Maristella Brentani, Luxotticas Vice President of Product. (Womens Wear Daily, October 13, 2008) Luxottica Group looked to the
47、 Ray-Ban archives in an attempt to mimic the 1980s success of Wayfarers with the Caravan aviator, retailing for $119. Similarly, Safilo has re-introduced Carrera shades in the United States, especially the familiar Champion and Safari styles that Chapter 1: Executive Summary The U.S. Eyewear Market
48、18 Packaged Facts June 2009 retail for $150. In January 2009, two new styles called Hot and Cool were introduced. Oliver Peoples is hawking the Sheldrake, a vintage-inspired round sunglasses style priced at $350 retail. Logo a No Go Logos are shrinking, if not all together disappearing. In their pla
49、ce, mixed material accents such as wood, leather, jewelry touches and appliqus, and colors take their place creating an entirely new aesthetic. For example, Fendi discarded the logos in favor of stitching down the temples, on sunglasses priced at $500. Designers, and Others, Seek Opportunity in Eyewear High-end designers, aware that their expensive designer duds may be even less affordable in the coming years, have begun introducing more accessori