The emergence of the Corona Virus has brought the world to a standstill.
Corona crisis has hit the markets, consumers, jobs, labors, and has affected every aspect of life in a terrible way, it is one of the harshest challenges India is facing after Independence.
Among other small and big industries, the eyewear industry is not immune to corona effects.
No doubt, it has shaken eyewear businesses unprecedentedly and has turned the lives of startup owners upside down. As per Business Insider, “There is the possibility of a “Startup Depression,” wherein new companies will not enter the job market because of the pandemic”
Based on the latest research, industry experts’ advice, and my own opinion, I, Neerja Singh, have come up with another blog on impact analysis of coronavirus outbreak on eyewear industry.
KEY PROBLEMS EYEWEAR INDUSTRY IS FACING IN CORONA PANDEMIC:
- Supply chain from China
- Shortage Of Qualified Optometrists
- Need-based/Slow Purchasing Behavior By Consumer
EYEWEAR INDUSTRY – CURRENT MODUS OPERANDI – Turning CHALLENGES into OPPORTUNITY
Yes, it is the very right time for the eyewear industry to turn CHALLENGES into OPPORTUNITIES.
Though corona is causing difficulties to many businesses, it is creating opportunities as well across many industries. According to the Hindu Business Line, “India will emerge stronger after the corona crisis”.
Around Mid-March 2020, the Indian government took a historical decision of nationwide lockdown. No doubt, this lockdown has thrown a lot of opportunities for online players for essential products and services.
And among these, one of the most essential eye care products is EYEGLASSES.
One can’t compromise life chores without a pair of eyeglasses. Moreover, the lockdown and work from home culture have grown usage of digital devices in a significant manner, resulting in EYE DISORDERS and rising need for eyewear.
Adding to this, Times Of India lists CONJUNCTIVITIS as one of the less common symptoms of the corona disease. It has been proved that coronavirus can enter the body through eyes also; so wearing PROTECTIVE EYEWEAR is necessary to prevent the infection.
Needless to say, the eyewear industry has tremendous opportunities to grow business amidst the corona pandemic. Eyewear players are making sure that essential eyeglasses reach the needy and taking heath into consideration, switching to the ONLINE OPERATIONS model as well.
The eyewear industry has gained an enormous growth in the past years, there are remarkable opportunities lying in the eyewear sector. In India, the eyewear market constitutes both organized and unorganized players. The unorganized sector dominates almost 70% market share whereas companies like Lenskart, Titan, and ClearDekho are some of the players operating in the organized sector.
With the spread of coronavirus, eyewear businesses have also got impacted in terms of low sales and low footfalls, but the players are trying hard to come up with new ways to keep their business running.
Providing essential eyewear to the customers, while facing the industry challenges due to the corona crisis, is not an easy task but the companies are going the extra mile to minimize the disruption caused by the COVID-19 and converting challenges into revenue opportunities by making right strategies.
Yes, we can say, Eyewear Industry Understands – When it comes to opportunity, never let a challenge go to waste.