The eyewear market is a competitive one and when it comes to eyewear market segmentation, there are many ways in which to categorize potential customers.
One of the most popular methods for performing eyewear market segmentation uses demographic factors like age and gender.
Other methods use psychographic factors like lifestyle, as well as behavioral factors like what people intend to use the eyewear for and how often they buy it.
In this article, we will segment the market for eyewear by following these 11 variables: type of eyewear, price range, optical power, style, color, material, occasion, gender, age, brand, and frequency of purchase.
The Importance of Segmentation of the Eyewear Market
The segmentation of the eyewear market is essential because it allows eyewear manufacturers, opticians and retailers to target specific groups of customers with laser precision.
By understanding the needs and wants of different segments, businesses can create eyewear products that are more likely to appeal to them, and retailers and opticians can carry products that their customers are most likely to buy.
The market for eyewear products ranges from those looking for a practical everyday pair of sunglasses to those in need of prescription eyeglasses to compensate for an eye defect or to wear after eye surgery.
There exist eyewear for every budget and every style, but not all types of eyewear are equally appealing to all consumers.
By segmenting the market, businesses can identify which type of eyewear product is most popular with each group and target their marketing and sales efforts accordingly.
Variables for Eyewear Market Segmentation
Eyewear market segmentation can be performed along the following 11 axes:
- Type of eyewear
- Price range
- Optical power
- Style
- Color
- Material
- Occasion
- Gender
- Age
- Brand
- Frequency of purchase.
Most eyewear product manufacturers cannot possibly cater to all types of buyers, so they focus on those segments that are most likely to buy their products.
This also has an impact on branding because different segments will respond differently to different marketing messages.
So, a brand that establishes itself as a stylish accessory brand and costs hundreds of dollars cannot easily switch to targeting the budget eyeglasses market without damaging its reputation.
Note that many people equate price to quality. So manufacturers perform price segmentation and divide the market based on a customer’s willingness to pay.
It is therefore essential that businesses decide which segments they want to target and then design their products, marketing, and sales strategy accordingly.
Let’s now look in detail at each of the variables used in eyewear market segmentation.
#1. Segmentation Based on Eyewear Type
Eyewear comes in many different types, the most common of which are eyeglasses, sunglasses, and contact lenses.
Each type of eyewear has its own distinct market segment.
Eyeglasses
Those who need eyeglasses for vision correction make up a very different market segment from those who simply want to purchase a pair of trendy sunglasses.
In fact, the eyeglasses market is further segmented into those who need vision correction and those who don’t.
Those who don’t require vision correction but still wear eyeglasses as a fashion statement make up what is known as the “optical eyewear” market segment.
Sunglasses
The sunglasses market can also be divided into several segments, such as those who need them for outdoor activities, those who want designer sunglasses, and those who purchase them as a fashion accessory.
Sunglasses can also be further segmented by their function, such as polarized sunglasses or sports sunglasses.
Contact Lenses
The contact lens market is yet another distinct eyewear market segment.
This market is segmented by those who need vision correction and those who don’t.
Those who don’t require vision correction but still wear contact lenses as a fashion statement make up what is known as the “cosmetic contact lens” market segment.
#2. Eyewear Market Segmentation Based on Price Range
One of the most obvious ways to segment the eyewear market is by price range.
This is because the willingness to pay for eyewear products varies greatly from person to person.
There are those who are willing to spend hundreds of dollars on a pair of designer sunglasses and those who are only willing to spend a few dollars on a basic pair of eyeglasses.
So, businesses need to decide which price range they want to target with which product.
There are a few different ways to segment the eyewear market based on price range.
The first is to segment the market into high-end, mid-range, and low-end products.
High-end eyewear products are usually those that cost over $100.
Mid-range eyewear products are those that cost between $50 and $100.
Low-end eyewear products are those that cost less than $50.
Another way to segment the eyewear market based on the price range is to segment it into premium and budget products.
Premium eyewear products are usually those that cost over $200.
Budget eyewear products are those that cost less than $200.
#3. Segmentation Based on Eyewear Optical Power
Most purchases of eyewear are for correcting vision and so optical power is a factor to be considered during eyewear market segmentation.
Optical Power can range from +20.00D to -20.00D and the eyewear market can be segmented based on this range.
This type of segmentation is important because opticians and stores need to decide what power of eyewear to carry in stock in their stores.
For instance, an optician may decide not to stock contact lenses that correct for severe astigmatism because based on their segmentation study they decide that there isn’t a large enough market to justify investing and stocking such contact lenses.
#4. Eyewear Market Segmentation Based on Style
For many people, their eyewear is an extension of their personal style and so is as much a fashion statement as it is a practical necessity.
This means that the eyewear market can be very successfully segmented based on style.
Some people look for eyewear that is stylish and fashionable while others are more interested in functionality and practicality.
Nonetheless, no one buys eyewear without glancing in the mirror at least once. After all, there is a reason why all optician stores have mirrors. People go there not just to improve their own vision but also how others see them!
Segmentation based on style is important for eyewear brands and stores because it helps them target their marketing efforts toward a specific group of people.
For instance, a store that specializes in selling vintage eyewear could target people who are interested in all things vintage.
Likewise, a store that specializes in selling sporty eyewear would use this type of segmentation to target people who are sporty by nature. This is why sunglasses found in sports stores all have a sporty design.
There are many different styles of eyewear and so this type of segmentation can be quite detailed.
#5. Segmentation Based on Eyewear Color
Just like style, the color of eyewear is another important factor to consider when segmenting the eyewear market.
The color of eyewear can make a big difference in how people see and perceive the person who is wearing the eyewear. For instance, black eyeglasses are seen as conservative, being more serious and professional while eyeglasses that are brightly colored are seen as being more fun and playful.
Of course, the color of eyewear is not always just about how others see the person wearing them. Sometimes, it is also about how the person wearing them wants to be seen.
For instance, a person who wants to be seen as being more fun and outgoing may choose to wear eyeglasses with a strikingly colored frame.
Conversely, a person who wants to be seen as being more serious and professional may choose to wear eyeglasses with starker colors like black or brown or metallic.
#6. Segmentation Based on Eyewear Material
Many people care about the material with which the eyewear has been made. For instance, some people prefer eyewear that is made of metal while others prefer eyewear that is made of plastic.
The material of the eyewear can also be a reflection of the person’s personality and style. For instance, someone who is very fashion-forward may choose eyeglasses that are made of unusual materials like wood or bamboo.
On the other hand, someone who is more traditional may prefer eyeglasses that are made of metal or plastic.
The material of the eyewear can also be a reflection of the person’s lifestyle.
For instance, someone who is very active and athletic may prefer eyeglasses that are made from a lightweight and durable material like polycarbonate.
Conversely, someone who is more sedentary may prefer eyeglasses that are made of a heavier and more luxurious material like titanium.
The material also matters when we talk about the lenses in eyewear. For instance, some eyeglasses have glass lenses while others have plastic lenses. This has practical implications as plastic lenses can be lighter then glass lenses of the same optical power.
#7. Segmentation Based on Occasion of Eyewear Use
The intended usage of eyewear also dictates the design, style, and even the material of the eyewear.
There are different types of eyewear for different occasions. For instance, there is sporty eyewear for people who play sports and need eyeglasses that will stay in place even when they are sweating.
There is also safety eyewear for people who work in construction or other dangerous occupations. This type of eyewear is designed to protect the eyes from flying debris or other hazards.
There are reading glasses that could have a special magnification lens that makes it easier to read small print or those that can be easily taken off and hung around the neck.
And, of course, there is fashion eyewear for people who want to make a statement with their eyewear. This includes designer eyeglasses and sunglasses that are often seen on the runway or in magazines.
#8. Eyewear Market Segmentation Based on Consumer Gender
Men and women have very distinct tastes when it comes to eyewear and eyewear designs are almost always made for one gender or another.
Eyewear manufacturers usually have separate lines of eyewear for men and women.
Some eyewear brands are made specifically for either men or women while other eyewear brands carry unisex designs.
However, even in the case of unisex eyewear, the designs usually have slight variations that make them more suitable for either men or women.
For instance, unisex eyeglasses may have a more masculine design with thicker frames and temples while unisex sunglasses may have a more feminine design with thinner frames and temples.
#9. Eyewear Market Segmentation Based on Consumer Age
As we age, our eyewear needs change and so eyewear manufacturers also segment their products by age group.
Eyewear designs vary depending on the age group that they are targeting.
For instance, children need eyewear that is durable and impact-resistant because they are more likely to be involved in activities that could damage their eyeglasses.
Young-aged adults look for eyewear that is stylish and fashionable because they want to look good.
Middle-aged adults often need eyewear that is designed for specific activities like reading or driving.
And seniors need eyewear that is comfortable and easy to use because they often have vision problems.
#10. Segmentation Based on Occasion of Eyewear Brand
The eyewear brand can be a significant factor in a consumer’s purchasing decision.
Many consumers are loyal to a particular eyewear brand and will only buy that brand regardless of price.
Eyewear brands can be classified into four categories: budget, mid-range, premium, and luxury.
Budget eyewear brands are the most affordable and are often found in drugstores or mass retailers. These brands have the least consumer loyalty.
Mid-range eyewear brands are more expensive than budget brands but they are still relatively affordable. People might be loyal to such a brand if they have used it before and liked it.
Premium eyewear brands are high-end brands that are often found in department stores. Premium brands like Ray-Ban, Oakley, and Maui Jim are the ones that command a high level of consumer loyalty.
And luxury eyewear brands are the most expensive and are only sold in boutiques or specialty stores. They include brands like Cartier, Chanel, and Dior.
#11. Segmentation Based on Frequency of Purchase
The final factor we will consider is the frequency of purchase. This is an important factor as it dictates how much money a customer is likely to spend on a pair of eyewear.
For instance, someone who only buys sunglasses every few years is likely to spend more on the one they are buying right now than someone who buys a new pair every few months.
Frequency of purchase can also be used to segment the eyewear market by those who are looking for eyewear for everyday use (eg contact lenses) and those who view it as a fashion accessory (eg luxury sunglasses) that they are willing to spend more money on but will only purchase occasionally.
Conclusion
As you can see, the target market for eyewear can be segmented using many, variables and can be analyzed from different angles.
In this article, we performed eyewear market segmentation following these 11 factors: type of eyewear, price range, optical power, style, color, material, occasion, gender, age, brand, and frequency of purchase.
Eyewear manufacturers and retailers often use market segmentation to better understand their customers and figure out how to appeal to them.
With eyewear market segmentation, they can better understand which types of eyewear are likely to sell well and can target their audiences more effectively.
