This is the kind of industry that will never go down if we look back at history. According to experts, the global luxury sunglasses market is about to grow at 6.51% during the period 2017-2021.
This growth rate was found after a rigorous analysis of data obtained by many top vendors in this area. The report of Global Luxury Sunglasses 2017-2021 research is based on an in-depth market analysis with inputs from industry giants.
When it comes to sunglasses, it’s a kind of utility that everyone needs. Every year, these brands are making sales of billions of dollars and creating a new milestone.
Few factors play a significant role in the boom of luxury sunglasses and here are some of those.
Customer Psychology: Marketers know very well how to entice their customers. Marketing of these sunglasses is done on a very large-scale, and that’s why the transition from utility product to luxury product happens. Hollywood celebrities do the endorsement, and people start getting a celeb feel with the glasses.
If you closely watch, the ads done for these sunglasses are very abstract. They never talk about price, brand or sunglasses itself. They only speak of the style you get from it.
Right Pitch: These brands know very well to whom and when to sell. They offer the products to those can afford, and that’s where the magic happens. These products are not made for the common people. Instead they pitch their idea among those who want to live a lifestyle blended with luxury and elegance.
Quality and Brand: There are few brands in the market, which have their monopoly in the market. Let’s take Rayban for instance. This brand covers more than 60% of sunglasses market and that itself shows what kind of impact can be made by a brand when it’s been delivering quality products since the last one decade.
These are the few factors that have played a very important in the success of luxury sunglasses industry and keep on playing till the time it exists.