ResearchAndMarkets.com just released their most recent research report dissecting the Global sunglasses market. The report looks at our industry in light of 2020's COVID influence, current market trends, and industry forecasts through 2026. We are happy to say that the report anticipates positive things for our industry moving forward.
As a leading seller of wholesale sunglasses in the U.S., we believe our industry's best days are ahead of us. We hope you believe that as well. As retailers, you are the hard-working business owners who make our products available to customers. You are the 'boots on the ground' so to speak. And with that in mind, we want you to know three key things heading into winter. All three are takeaways from the latest ResearchAndMarkets.com report.
1. The Market Is Gaining Strength
Global demand for sunglasses fell considerably in 2020. That is understandable. With many countries instituting significant lockdowns intended to keep most people at home most of the time, there was much less demand for anything related to outdoor activities. Sunglasses certainly fall into that category. But with COVID restrictions easing, people are getting outdoors once again.
Projections suggest a CAGR of 5.03% from 2021 through 2026. Even now, wholesalers and retails in the northern hemisphere are taking stock of a 2021 summer season that was measurably better than the year before. Meanwhile, the southern hemisphere is preparing for their annual summer season. Demand for sunglasses is expected to be quite brisk.
2. The U.S. Is Still Strong
As a U.S. retailer, take comfort in the fact that sunglasses are still in demand here. According to the report, more than 80% of Americans wear sunglasses during the summer. Only about one-third do so in the winter, but that is not necessarily all bad. Fewer people wearing sunglasses during the winter months just means a much bigger market for you to tap into.
The winter season is a great season to target skiers, snowboarders, and the like. But it also represents an excellent opportunity for you to emphasize the importance of UV protection even when the sun isn't shining brightly. Do not think of the winter season as a down season. Think of it as your opportunity to educate consumers about the need to always wear sunglasses outdoors.
3. Polarized Sunglasses Are Hot
Finally, the research report indicates that polarized sunglasses are hot right now. They lead all other model types in terms of popularity with consumers. It is not quite clear why this is so, and it could just be that manufacturers and wholesalers are driving the market by producing primarily polarized models. At any rate, be sure to have a good selection of polarized sunglasses on hand during the winter months.
Polarization is ideal for dealing with glare. Your winter sports enthusiasts find that extremely important – especially when careening down the side of a snow-covered mountain at a high rate of speed. Polarization could mean the difference between seeing hazards and not seeing them.
Things Are Looking up
In closing this post, we want to encourage you to keep your head up. 2020 was a rough year for all of us in retail. 2021 has been better, but we still have plenty of room for improvement. The good news is that market research shows things picking up again.
We also want to thank our loyal retailers for your business. When you buy wholesale sunglasses from Olympic Eyewear, you are helping our business and yours. You are also giving your customers access to high-quality designer sunglasses at more affordable prices.