Mexico Optical Eyewear Market Overview of 2012
The eyewear market suffered a large decline because of the world macroeconomic crisis. Mexico Optical Eyewear Market Overview consumers from the middle and low-income segments suffered large loss of their buying budgets, and their first response ended up being to cut paying for accessories they didn't consider as necessary. Although most products within the optical eyewear and sunglasses segments are necessary for that performance of any day life, most Mexican populations made a decision to restrict their shelling out for such expense.
Even though devaluation on the peso was expected to result in a significant rise in the prices of imported products, industry in truth experienced a generalized cut in unit prices. Consumers reacted by switching in order to reduce-priced products, since this was their best approach and keep using eyewear products. Within the supply side, importers took advantage of relatively low transport and customs clearance costs incurred in supplying these low-priced products. Practically all consumer segments switched to lessen-priced products, as only consumers with very good income levels continued to get high-priced items.
Imported products carry on and dominate the competitive landscape with the eyewear market in Mexico. The dominance of imported brands has grown to be more evident during the last number of years, in spite of the devaluation of the peso. Most domestic manufacturers haven't been able to launch products in different segment; the only Mexican company with significant manufacturing facilities within Mexico is Augen Opticos. Luxottica Mexico continues to be the leader from the Mexican market; its success continues to be based on its regular launches of brands that have also been successful in other markets.
Mexican consumers have grown to be more conscious of eyewear fashion trends, along with the main retailers inside eyewear products market have learned to make use of this by distributing their products through retailers which are mindful of current products. Eyewear companies are making efforts to distribute some through points of sale with high consumer traffic, and the expansion of retailers that sell eyewear products needs to some extent cancel out the side effects from the crisis. Eyewear products in Mexico were traditionally regarding optometrists’ offices, but this perception continues to be changing.
The marketplace is expected to generate a full recovery by 2012; although 2011 will be a year of positive growth, the market is just not gonna attain its pre-crisis level. Although most prescription eyewear backpacks are deemed priorities, consumers have extended their utilization of their current eyewear products as a way to live within their limited budgets. Once consumers commence to attain more comfortable income levels, eyewear sales need to enhance.
AUGEN OPTICOS SA DE CV – EYEWEAR – MEXICO
Augen is strongly invested in continuing with R&D into new materials and manufacturing processes so as to continue producing high-quality lenses at competitive prices.
Augen will continue using its proven successful strategy of expanding its operations outside Mexico and also the US. in order to position itself being a global competitor by exploiting the technologies it's invented and patented.
Augen continues to emphasize the use of technological advances in systems and optics inside the short and medium term since this tactic has been confirmed successful sustaining efficient operations to make available products at competitive prices.
Augen is privately owned Mexican company located in Ensenada, Baja California, which is still operated by its founder.
You can actually core business is your research, development and design of high-definition lenses, the structure and production of manufacturing equipment for lens moulds, the operation of 18 spectacle lens laboratories located in major Mexican cities that service both independent opticians as well as the regional chains of optical stores.
The corporation has laboratories in 16 major cities in Mexico. just about all offers service and possesses operations in Canada, the USA, other Latin American countries and Europe.
Not all Augen's backpacks are for sale in every one of the markets during which it looks after a presence.
The majority of Augen's merchandise is manufactured at its Ensenada plant. It processes prescription spectacle lenses at its 18 regional laboratories, and manufactures lens moulds at its Ensenada plant.
This company sources some resins and brand polycarbonate materials from abroad, improving them mainly in the US. What's more, it maintains business alliances that enable it to make available Sunsensors and Trivex products.
Augen exports some products to international markets, notably lens moulds, as it exports some prescription lenses processed at laboratories in Mexico on the US.
Augen's overall business in the spectacle lenses subsector was 1.4% last year, so that it ranked second after Corning. Augen has achieved this strong position because of its innovation processes and its knowledge of the eyewear distribution channels in Mexico.
Augen's sales grew by 54.5% above the period 2004-2009, which was the strongest growth displayed by service shop in this particular subsector. The company good understands on the national market, with 18 regional laboratories that service chain and independent optical retailers and optometrists with good-quality lenses in a competitive price, means it to do this growth.
Augen's main offers are a higher-quality product sold at very competitive and reasonable prices. This course is projected to underpin the continuing growth in its share of the market, and it's preparing its laboratories to process more prescription lenses.
Their R&D department is rolling out technologically advanced products, equipment to process lenses, and software to enable opticians and optometrists to talk with its laboratories. It's now patented some of these innovations. Its offering of high-definition lenses may give it a much better name and recognition on the market.
LUXOTTICA MEXICO SA DE CV – EYEWEAR – MEXICO
Established in 1994, Luxottica Mexico is part from the Luxottica Group which is a wholesale distributor in than 130 countries and services up to 6.2 50 retail stores world-wide. Its production facilities are typically in Italy as well as the US. Luxottica doesn't have any production facilities in Mexico, simply a wholesale distribution operation, given it imports the majority of its brands from Italy and one, Oakley, from the US.
Luxottica holds the largest market share inside the spectacles sector, at 4.8% in 2011, which is the country's largest importer of both spectacle frames and sunglasses. Luxottica may be competent to maintain its leading position in the past by offering a wide array of designer brands, which Ray-Ban is certainly caused by widely recognized. Luxottica offers creative ads to retailers as point-of-sale displays and flyers.
OPTICAS DEVLYN SA DE CV – EYEWEAR – MEXICO
Founded in 1938, Opticas Devlyn is usually a family business, with all the third generation now involved in its management. Three sons and seven grandsons on the original founder are situated in management of their management and operations, with clearly defined roles and functions.
Disposable lenses IN MEXICO
Similar to consumer markets, contacts suffered a negative impact from the global macroeconomic crisis. Consumers reacted conservatively by cutting their spending; most used their existing contacts for extended, even though made greater by using spectacles.
The daily disposable subsector had the fastest growth on the review period, that has a CAGR of 5%, while sales of two-weekly/monthly grew that has a CAGR of 1.4%.
The growth rate was clearly impacted by global macroeconomic conditions in 2011. Industry had expanded at annual rates of 5-7% until 2011, begun to decline in 2011 and became negative in 2012.
There were no significant marketing efforts by manufacturers or distributors to promote lenses to Mexican consumers last year. There were no mass media promotions for national television, along with the only marketing efforts were made through retailers using media companies with regional coverage to provide discounts as well as other promotions.
Spherical contact lenses remain the most famous type among Mexican consumers; fundamental essentials only sort of lens that a majority of from the population knows. The share of colored for the purpose of increased in 2012, although they may be deemed as luxury products; toric lenses have become markedly widely used because they are getting to be obtainable in major cities.
Weight loss regular users of for the purpose of have approach age 40, and that is frequently related to the start presbyopia, the interest in multifocal contacts has maintained a healthy growth rate. This type of contact lens would work for consumers who prefer using disposable lenses to bifocals.
The features with the products introduced in 2008 emphasized fashion, convenience and technology. Acuvue Advance with Hydraclear was introduced to provide exceptional comfort and excellent vision with a monthly disposable lens.
In the review period, CooperVision engaged in additional activity when it comes to introductions and relaunches of products, and enhancements made to provide greater comfort over extended periods. CooperVision's Expressions range introduced in six colors provide a holistic color with greater comfort and adaptation towards wearer's eye.
Optometrists and ophthalmologists may be the primary contact from whom an individual receives a prescription and a recommendation in regards to the varieties of eyewear available to alter a specific visual problem. Manufacturers and suppliers maintain connection with these health professionals to ensure that their unique items are recommended, and ophthalmic doctors are increasingly the principle channel for lenses in this respect. Another trend that could develop is good for retail outlets including mass merchandisers along with a few internet stores offering free overnight delivery, as a way to present consumers with wide ranges of products and huge discounts.
Ciba Vision and Johnson & Johnson (Acuvue) were amongst the leading companies operating from the disposable lenses sector during the past year. They've been extremely effective in recent times in positioning themselves inside the minds of ophthalmologists, consumers and optical retailers.
During 2009-2014, sales in this sector are projected to lower at the CAGR of a lot less than 0.9%. This reflects the country's estimated slow recovery from the global financial crisis, development in the people aged 15-64 (that include most users of contacts) in a CAGR of l.9%, as well as the increased accessibility to laser surgery at competitive prices to correct certain visual problems.
SPECTACLES IN MEXICO – Optical Eyewear Market Overview
Value sales in the spectacles market suffered a 1.0% decline from 20010 t0 2010 to reach MX$31.2 billion.
The decline in consumers' disposable incomes was probably the most critical factor affecting this market, shrinking by almost 8.6% between 2010 and 2011.
The sunglasses subsector showed an optimistic performance in 2012, growing by 5.3%; on the other hand with spectacle lenses and frames, sales of sunglasses maintained the positive growth trend observed over the review period.
As a result of the macroeconomic crisis, consumers switched towards low-priced items, so local unit prices decreased regardless of the devaluation in the peso.
The market's negative performance was anticipated to end by mid-2010, and it's forecast to grow to succeed in MX$32.4 billion truly and MX$36.7 billion in 2014.
4 seasons 2011 would be a difficult one for the spectacles sector. Unemployment rates as well as the financial crisis affected sales, which affected many retailers who saw reductions from the numbers of their consumer visits.
Consumer credit became extremely expensive in '09, with annual rates of interest which range from 35% t0 100% with regards to the individual's personal credit record as well as the institution issuing the credit card. Retailers adapted by six- and twelve-month interest-free installment programs.
12 months 2011 was been one of several hardest gone through by the. Consumers suffered large declines in their budgets, and manufacturers also suffered a generalized price increase which led, however, to increased interest in lower-priced products.
Although sales of the important segment with this sector are influenced by fashion, the world financial system, taken alongside the the swine flu virus epidemic, reduced consumers' disposable incomes and therefore their shelling out for products with this type. Consumers consequently purchased new fashion types of spectacle frames and sunglasses, and updated their spectacle lenses with new prescriptions less frequently.
Although sales of spectacles grew by a total of 18.9% above the period 2004-2009, they declined by 1.0% in 2011 relative t0 2010. Sales to men were most affected, declining by 1.8%, while those to children were least affected, declining by 0.1%. The market industry responded to the negative economic conditions by protecting first the population with the greatest sensitivity of interest on spectacles, as the population least affected by fashion trend was most happy to reduce spending in this sector.
Optical lenses be the cause of the biggest share on the market, at 53.0% in 2011, when it was alone whose share declined, by 0.9 percentage points, as consumers were obliged to keep their old prescriptions for extended and postpone their purchases of the latest spectacles.
The influence of fashion on the spectacles sector is reflected because of the idea that almost 1 / 2 its sales are to women, while children take into account only one-fifth. Opticians are actually successful in presenting alternative frames and lenses to those who work to occasions; this is why most female consumers have an overabundance of than one couple of spectacles simultaneously. Men are also starting out show greater interest in fashion, particularly young professionals trying to produce a statement about themselves through not just their clothing and footwear and also the look with their spectacles. Forex may be growing as rapidly as being the women's market over the review period, which demonstrates the achievements of the government's programs of testing children's vision in the private and public schools.
Throughout the review period new products were introduced inside spectacles sector, including a new generation of variable-tint lenses from Essilor branded as Transitions IV. Marchon Mexico also introduced new fashion design frames through its Nike, Coach and Calvin Klein eyewear brands, amongst others.
Sunglasses fared well throughout the review period, with sales increasing by 5.3%, indicating that consumers could still purchase fashion goods even with this difficult experience.
Health retailers taken into account 50.1% of sales in 2011, reflecting consumers' confidence and preference in purchasing products, for example spectacle lenses, from retailers of the type. The largest national retailer in Mexico is Opticas Devlyn with over 500 outlets, employing well-trained personnel including both sales assistants and optometrists.
That has a CAGR of 3.3% projected for your period 2009-2014, prospects for the spectacles sector contrast with its good reputation for the double-digit growth during 2004-2009. The still-unresolved economic crisis, unemployment rates of greater than 4.0% and minimize disposable income have prevented consumers from changing their purchasing habits for products with this sector.