The quality and authenticity of goods has always been one of the most important aspects for consumers, and even more so for the fashion industry. And in early 2018, this trend for quality and professionalism began to permeate the eyewear industry. Some optical experts say their business is increasingly focused on consumer sensitivity to quality.
"Consumers are changing their value system to favor items with a better handcrafted touch and sensitivity when it comes to purchasing items, not just limited to mass-produced, well-known brands," said eyewear designer Blake Kuwahara. "Millennial consumers, in particular, are looking for something that's unique and sets them apart from mass-produced brands."
Morgenthal Frederics, an eyewear brand with 14 stand-alone stores and 40 agency sales outlets, has also noticed the shift. Jeff Press, the company's creative director, said, "In the past few years, people have been buying more quality, unique styles, and mass-marketed items like Ray-Ban don't have the "monopoly" on consumers that they used to have. This is a very big shift in the eyewear industry in my opinion."
Figures show that eyewear giants Luxottica and Safilo both saw small sales declines in 2017 -- Luxottica up just 2.2 percent and Safilo down 16.4 percent.
Instead, some niche brands had big gains. Japanese high-end eyewear brand Kuwahara, for example, which retails its products between $600 and $725, saw a 36 percent year-over-year growth rate in 2017.
"The eyewear market is moving toward lower prices and convenience, or is fragmenting into a higher-end market. And the high-end of the eyewear market is actually very low-priced compared to other fashion categories because people now know how to get high-quality craftsmanship with low investment," said Matthieu Lafont, Lafont's marketing director. His family brand has experienced steady growth over the past five years and is sold in nearly 12,000 stores worldwide.
Some other niche brands are not far behind, with Garrett Leight, founded by Larry Leight, the son of the founder of eyewear brand Oliver People , growing 42 percent in 2016 and 25 percent year-on-year in 2017. The brand has been emphasizing transparency in its retail strategy to signify its expertise. "Consumers want to know where and how the products they buy are made, and we address this requirement through video sharing and by publicizing information about our factories and processes." On top of that, the brand has added an open kitchen-style lab where consumers can see the manufacturing process of the custom eyewear they buy on the sales floor.
For the eyewear industry, the overly homogeneous offerings in the mass market have created opportunities for more specialized professionals. "You actually see pretty much the same products in a lot of stores now, and it can be difficult for mass brands, especially eyewear brands, for retailers to differentiate, so it creates a space for independent eyewear brands. Further, retailers can work more with independent eyewear brands to offer differentiated products that appeal to consumers and provide additional services." Analyzed Ana Sedes, head of global business development at Andy Wolf.
He also noted that Andy Wolf's average retail price ranges from $320 to $475, but that its annual sales still reach 20 to 25 percent growth in the U.S., where the market has become more competitive, and 18 to 20 percent growth globally.
Some optical designers agree that eyewear, as a more unique accessory, has a close relationship with the face and skin, and influences the matching of other accessories (such as shoes or handbags).
"Eyewear is a very important personal accessory that can change your role and even your look, so consumers tend to be more interested in purchasing eyewear from a true professional expert." Jeff Press said.
And Selima Salaun, a registered dispensing optician, spoke about the trend, noting that some consumers are looking for a more specialized service in the role of medical treatment, in addition to quality and design. And the recent use of eyewear on fashion runways has greatly increased its visibility in the accessories market.
"Fashion finally sees eyewear as important as bags and shoes. And for that I have to say thank you to big brands like Gucci, who have so many incredible eyewear on every runway show. Eyewear is not just a fashion accessory, it is also a medical device. Specialized brands can offer both, and the rise of this trend has helped us true eyewear designers to sell more of our products." Salaun said.