GIA Announces the Eyeglasses Market Outlook by 2015
GIA, Global Industry Analysts, the reputed publisher, recently announced that the eyeglasses market by 2015 will reach US$95.66 billion, a pretty positive forecast for the industry.
Eyeglasses has transformed itself from vision corrective necessity to fashion items the same as jewelry and fashion clothings. Eyeglasses market used to be resilient at any economic conditions, but now, as a part of the fashion industry, eyeglasses sales become vulnerable in the time of financial downturn. In addition, as the eyeglasses are sold at a considerably high markup, the high price also serves as the biggest hurdle. In the past two years, many consumers drift to low-price eyeglasses to avoid the high prices charged by most of the optical stores.
The most worth-mentioning point in the coming years is the dramatic rise of eyeglasses sales sold through e-commerce channels. This contributes to the continuous sale increase. The rise of the Internet as a potent vehicle for selling eyeglasses is additionally expected to expand the retailing reach of eyeglasses worldwide. Thanks to the growing popularity of E-commerce and Internet based sales transactions, the revenue inflow for eyeglasses from cyberspace is increasingly on the rise.
In the history, US and Europe are the major revenue contributors of eyeglasses sales. In the past two years, and also in the foreseeable future, Asia Pacific and Latin America will be acting as the major source of revenues.
As the baby boomer accounts for a big part of the population who is over 45, the demand for reading glasses and bifocal or progressive eyeglasses is on the steep rise. This is believed to be turbo-charging the sales of eyeglasses and prescription sunglasses in the coming years.
For the sunglasses market the fairly-priced quality sunglasses will be the major contributor to the acceleration of sales revenue. In addition to this, plastic frames will further add momentum to the consecutive demand as shown in the previous years.
Major players and manufacturers and distributors of eyewear products are still unchanged.