The sunglasses market - Spain

1.2 A growing global market

Worldwide, sunglasses will account for **.*% of total eyewear sales in ****of total eyewear sales (***) for a total of $**.* billionand a forecast CAGR in value over the period ****-**** of *.*% [***].In ****, *** million sunglasses were sold worldwide.

In contrast to the stagnant French market, worldwide sales of sunglasses grew by*% between **** and ****. It should continue to grow, reaching $**.* billion in ****.

In Europe, Germany, Spain, France and Italy together generated **.* billion euros in sales (***) for the entire market.for the entire optical market in ****, while revenues from sales of sunglasses amounted to just *.* billion for these countries.

In ****, Austrians spent the most on sunglasses, followed by Australians and Irish, with average spending of US$**.*, US$**.* and US$**.* respectively.

Top ** sunglasses market revenues per capita France, ****, in dollars source: Statista, Businesscoot processing

Global market size for sunglasses World, **** - ****, in billions of dollars Source: ****

1.3 The domestic market

The optical market

The sunglasses segment is part of the optics market. In ****, the sector in Spain recorded sales of *.** billion euros, an increase of *.*% on the previous year.

Despite the recovery in ****, the sector has not yet returned to pre-pandemic levels, following the collapse in consumption caused by the Covid-** crisis. moreover, according to DBK, we can expect a slowdown in growth and a reduction in sales by ****, due to the impact of inflation, which will erode Spaniards' purchasing power.

By ****, ** companies involved in the manufacture or import of optical products were operating in the Spanish market. [***]

Optical sector sales Spain, ****, in millions of euros Source: ****

The different segments

Breakdown of sales by product type Spain, ****, in Source: ****

Ophthalmic lenses account for almost **% of market value. Next come spectacle frames (***), while care and other services account for *.*% of sales.

This breakdown enables us to estimate the size of the sunglasses market in Spain. In ****, the optical market will record sales of *.** billion euros. Since the sunglasses segment represents around **.*% of the market , it can be valued at *.*** * *.** = ***.* million euros.

1.4 Foreign trade in sunglasses

Foreign trade in sunglasses is on an upward trend, despite the downturn caused by the pandemic. The pandemic has also helped to rebalance the coverage rate somewhat: from **% to **% between **** and ****.

Foreign trade in sunglasses Spain, **** - ****, in millions of dollars Source: ****

The chart above illustrates trade in sunglasses in Spain. It shows that Spain imports more sunglasses than it produces and exports. Indeed, the coverage ratio (***) was **% in ****, implying that imports are around twice as large in value as exports.

Main sunglasses supplier countries by value Spain, ****, in Source: ****

The chart above shows Spain's main suppliers of sunglasses. In first place is Italy with almost **% of imports, followed by China with **.*%.

Main sunglasses customer countries by value Spain, ****, in Source: ****

Spain's main customers are mainly European, with France in first place (***).

2.1 Sunshine and tourism, the main drivers of demand

In Spain, the market for sunglasses is much larger than in most developed countries, thanks to the favorable climate and historically high levels of tourism.

Plenty of sunshine

Spain is one of the sunniest countries in Europe, which makes it a great place to buy sunglasses. In fact, * of the top ** sunniest cities are Spanish , including Alicante, with an average of *** hours of sunshine per month.

Europe's ** sunniest cities Europe, ****, in hours of sunshine and temperature Source: Holidu Within the country, while exposure to the sun is generally high, there are a number of disparities. While the south of the country is very exposed to the sun's rays, the north, and especially the north-west, has a lower SPH, at around *, compared with * in the south.

Source: ****

*HSP: Hora Solar Pico. This is the amount of solar energy received per square meter of surface area. One hour of maximum sunshine is equivalent to ****Wh/m*.

Demand exacerbated by local tourism

Tourism plays a very important role in the sale of sunglasses in Spain. In fact, it plays an active part in driving demand; since sunny tourist destinations often attract large numbers of visitors, including holidaymakers, business travellers and tourists. These people ...

2.2 Growing interest in sunglasses

Cyclical demand

It's natural that demand for sunglasses is greater in summer than in winter, when there's a lot of sunshine. We can gauge consumer interest in sunglasses by looking at the Google Trends index for the terms "gafas de sol" in Spain. This shows a real seasonality of demand, with peaks around May - July and lows in autumn and winter.

Search interest for "gafas de sol" on Google Spain, **** - ****, in Google Trends index Source: ****

Booming demand

In ****, frames and sunglasses accounted for **.*% of total optical market volume on the peninsula. However, phases of confinement and the drastic reduction in tourist arrivals led to a drop in activity of over **% in ****, before recovery began in ****.

The sunglasses market in Spain grew by *% in **** compared with ****, exceeding pre-pandemic levels. According to the Spanish Association of Optics Manufacturers (***), this growth is attributed to the lifting of COVID-** restrictions and the end of the mask requirement in May ****. The importance of offering products that combine fashion and visual health in shop windows is emphasized. The AEO also points out that market studies for **** show positive results, with the return of luxury tourism and an increase in fashion purchases, contributing to higher average ...

2.3 Sunglasses usage habits

In Spain, **.*% of the population use sunglasses frequently. Only *% never use them, and *.*% rarely. The use of sunglasses also depends on the activity and exposure to the sun's rays. For example, activities on the beach or in the mountains lead to greater use of protective lenses, while sporting activities make their use more difficult, as sunglasses are less practical.

Sunglasses use by activity Spain, ****, in % Source: ****

If sunglasses are regularly used, they are also a frequently replaced accessory. Indeed, **% of Spaniards bought their current pair a year ago or less. This can be explained by rapidly changing fashions and the constant creation of new models.

When did you buy your last pair of sunglasses? Spain, ****, in Source: ****

3.1 Value chain and production

Below is a possible value chain for the sunglasses market:

Conception and design: Sunglass manufacturers conceive and design frames and lenses according to fashion trends, technological advances and quality requirements. Manufacturing: Manufacturers produce sunglass frames and lenses on a large scale, using materials such as metal, plastic, wood or titanium. Marketing and promotion: Sunglasses brands promote their products to consumers through advertising campaigns, events, partnerships and collaborations with celebrities and influencers. Distribution: Sunglasses are sold through various distribution channels such as opticians, specialty stores, supermarkets, online sales sites, etc. Sales: Consumers buy sunglasses that meet their needs and aesthetic preferences. After-sales: Opticians and manufacturers offer after-sales services such as repairs, adjustments, exchanges or refunds in the event of problems with sunglasses.

3.2 Distribution

The channels preferred by Spaniards

The most popular channels for buying sunglasses in Spain are optical stores, since they offer sufficient quality and a wide range of models. Next come specialized sunglass boutiques, and finally online sales, which have seen unprecedented growth in recent years.

Which distribution channel do you prefer when buying sunglasses? Spain, ****, in Source: ****

Unfair competition from top manta

In ****, Visión y Vida reported on sunglasses sales by distribution channel.At the time, the company denounced the fact that of the more than ** million sunglasses sold in Spain, only *.* million were sold in optical stores: the rest were sold through other unauthorized channels, mainly through the "top manta". This competition from the street market poses a number of problems for the Spanish market. Firstly, it creates health risks, as unapproved glasses can cause serious problems for those who use them; keratitis, conjunctivitis or cataracts are on the list. These health problems necessarily involve a social cost. Added to the health problem is the economic one, as unfair competition not only reduces sales to authorized channels, but also means that the state no longer collects the taxes used to maintain services and pay civil servants.

While the year ...

4.1 Offer typology

The sunglasses market is characterized by a highly diversified offering. In fact, the different characteristics of sunglasses offer a number of distinctive features that are exploited by manufacturers. First and foremost, sunglasses are distinguished according to their sun protection. There are * different categories of protection:

Category *: provides no protection against the sun's UV rays. It is reserved for comfort and aesthetics. Categories * and *: suitable for low and medium sunlight levels. Categories * or *: for strong or exceptional sunlight (***).

The recommended category depends not only on the consumer, but also on the purpose. It's a good idea to have several pairs of glasses, adapted to different situations. However, not everyone needs the same level of protection. To establish the minimum level of protection required, we can look at the different photoypes, which are as follows[***] :

Phototype *: dedicated to albino people, who do not synthesize melanin and therefore cannot expose themselves to the sun. Phototype *: very white skin; blond or red hair; blue/green eyes; frequent freckles; always burns; never tans; very sensitive to the sun, even intolerant. Phototype *: fair skin; blond, red or chestnut hair; light to brown eyes; freckles; burns easily; tans little or very slowly. Phototype *: intermediate skin; chestnut to brown ...

4.2 Price disparity: a reflection of heterogeneous supply

The price of sunglasses varies widely, depending on the range, brand and materials used. Nevertheless, the general trend is for sunglasses prices to rise (***).

Sunglasses price trends Spain, ****-****, in euros Source: Modae The average selling price of sunglasses in Spain in **** will be **.** euros. The transition from production to distribution is strategic. It enables eyewear manufacturers to make considerable margins. for example, while the factory-gate price for a Ray-Ban frame is €** to €**, the average retail price is €***.on average, which allows manufacturers to multiply their cost price by * or *, even if they pay royalties of ** to **% and marketing costs of * to *% for some. The average price of a sunglasses frame in France was €**. In France, the price of sunglasses varies according to their specific features and range. They remain inexpensive compared with the market for aesthetic and fashion sunglasses. The price of sunglasses ranges from*€per pair, and ***€ per pair: The entry-level market consists mainly of sunglassesbetween €* and €**with basic features adapted to different sports, a market dominated by brands such as Quechua and B'Twin; A mid-range segment, consisting mainly of eyewearbetween €** and €***featuring brands such as Orao, Tribord, Quechua, B'Twin, Caperlan and Kalenji, with more specific models for particular ...

5.1 Legislation and recommendations

The European Consumer Centre in Spain (***) reminds us of the importance of protecting our eyes from the harmful effects of the sun by wearing safe sunglasses. Recommendations are provided for the purchase of sunglasses that comply with current regulations and offer adequate protection.

It is advisable to buy sunglasses from reputable specialist centers, ensuring that the lenses comply with current regulations and carry the European Community CE mark. Glasses must be accompanied by model identification, manufacturer's name and address, reference to ISO ***** and filter category, among other relevant information.

The categories of sun protection filters are explained, ranging from category * (***), with indications on their use and restrictions, such as unsuitability for driving in the case of category * glasses.

Consumers are advised to choose the right eyewear to suit the ambient light and the user's sensitivity to light, giving preference to approved polarized lenses and wrap-around frames . in addition, the importance of protecting children's eyes is emphasized, as ultraviolet rays are more harmful to them due to the incomplete development of their lens filters.

The applicable regulations are Regulation (***) ****/*** of the European Parliament and of the Council and standards UNE-EN ISO *****-*:**** and UNE-EN ISO *****:****, which establish protection requirements and test methods ...

6.1 Segmentation

• CECOP
• Essilor Luxottica groupe
• Afflelou
• Krys Group
• Optical Center
• Ray-Ban (EssilorLuxottica)