Optical retail industry Alexandria, Va. It cost only Rs 2400/- per year for one store and there are no hidden charges or Market Trends of Optical Retail Chain Industry Offline Optical Retail Chain is Driving the Market . Patient volume. It is a very easy and cost effective solution for optical retail business. Neil Mason, category director at Mintel, shared some stand-out findings from the report and how these can be applied in community optometry practices. –(BUSINESS WIRE)–Zenni Optical, the online optical industry leader, celebrates the company’s sweet 16 birthday with more than 25 million pairs of glasses sold. In the optical retail industry, a CSAT score of 80% or higher is generally considered favorable. The company’s success can be attributed to its innovative approach and customer-centric focus. The industry is expected to benefit from the aging population, which is more likely to require vision correction products. Many local optical retail brands have launched e‑commerce sites as a response to the Covid-19 crisis. The global market is tipped to surpass $170 billion (USD) by 2025 according to Global Market Insights, with a large proportion of that coming from optical retail stores. 2. Industry Trends. com. Top UK chains: Top of the optical retail tree. As a result, there is a growing industry with insights and sales trends to make informed business decisions and serve customer wants and needs. Companies in the optical industry specialise in selling and precisely fitting prescription lenses, high-quality frames, contact lenses, and a diverse array of eyewear accessories. It has experienced significant growth in recent years, driven by a number of factors such as In the late 1960s optical stores and some small regional chains began offering eye exams along with glasses and contacts. This industry comprises establishments primarily engaged in retailing and fitting prescription eyeglasses and contact lenses. Sales of the leading 15 optical retailers in the U. News and press releases GOC suspends Bury based optometrist from register. What are the key regions in the India eyewear market? On a regional level, the market has been Recent years have witnessed a significant evolution in consumer behavior within the optical retail sector, particularly in the domain of eyewear preferences. • There are about 44,850 brick and mortar optical retail locations in the United States. saw their sales increase by 4. Retail giants began to spring up, and an industry that was once considered strictly a "health-care" field became a competitive retail market. Embracing optical retail software technology enhances operational efficiency and enriches customer experiences, driving long-term Keep in mind that with capture rate, and many other optical metrics, you can measure contact lens sales in a similar way. What are the common merchandising challenges faced by the eyewear industry? The retail eyewear industry, a hub of innovation and style, currently finds itself squinting at a daunting array of challenges. At 1. The largest market segment is Spectacle Lenses NOVATO, Calif. Eyewear can be a necessity or luxury, and you'll have what you need at an optical retail store. We provide total lens The optical industry in India had a gaping slot for a retail chain that could provide end to end solutions for vision challenges. Read the article, the first part in this industry-focused series, here. 69 billion in 2032, growing at a CAGR of 17. Zenni continues to see strong growth year-over-year and in 2018 alone, the online retailer sold more than five million pairs of glasses. Report Coverage: Report Features online stores, and retail stores. Luxottica is one of the Strengths of Optical Stores. 78% (CAGR 2025-2029). To our readers and partners, thank you for your support through the years! iVend Optical is an industry vertical module of the iVend Retail management software suite designed for Optical retail shops, Optometry Practices (with or without a retail dispensary), Retail sunglass stores and Ophthalmology clinics (selling RX eyewear). Mintel’s UK Optical Goods Retailing Market Report explores the current and future trends in the industry, and provides expert analysis and recommendations you need to secure future growth in the UK market. Global Eyewear Market: The global eyewear market size reached USD 169. 2024-12-13T00:42:00+00:00. 3% over the last five years. The global eyewear market, that made up of spectacles, contact lenses, sunglasses, and other eyewear products, was estimated to be worth around 170 billion U. Therefore, North American Industry Classification System (NAICS) Canada 2022 Version 1. Optical Retailers in Vision Mon- Uncover industry trends across home & garden, home care and pet care. While major international brands and retailers dominate the market, independent and regional optical stores have a significant presence, especially in developing regions like India. The optical retail chain market is fragmented, with a mix of large and small players. NEW 2024 Update. We need domestic brands to come in, which may result in bringing prices down,” Arvind Singhal, chairman of retail consultancy Technopak UK optical retail market still below pre-COVID level, GfK finds. Industrial Markets. As a result, the temporary closure of retail stores affected both brick-and-mortar stores as well as e-commerce platforms adversely. As attention turns to New Year, OT asked what the core drivers for Our one-time data migration service ensures that you have a smooth transition experience from another optical software for retail stores to Optyski. 9 billion optical industry. Oops! Retail in Asia has signed off. We're tracking Eye-D - For Visually Impaired, Lawrence & Mayo and more Eyewear companies in India from the F6S community. These chains typically operate multiple locations across various regions or countries, offering consumers a wide range of eyewear products and services. 17 billion euros. Such adaptations are more feasible in geographic locations with higher technology uptake and Now Optics is an eye health industry leading company offering health, retail and franchise services in the eye care industry since 2006. Establishments primarily engaged in the retail sale of eyeglasses and contact lenses to prescription for individuals. This industry excludes the manufacture of lenses, online and mail-order retail of optical goods and sales at optometrists’ offices. Vision Monday ranks Now Optics among the top 15 largest optical retailers in the country. Opening the store in time in the morning and closing the store. Industry Benchmarks. Improving customer satisfaction in your optical shop can lead to enhanced customer loyalty and better sales: The Grand Indian Optical Retail Evolution. Websites like Amazon and eBay allow the users to buy products from their home and it will be delivered directly to their doors within a couple of days. The 50 largest optical retail players in the U. ” Glasses are modern fashion accessories. Wide Range of Eyewear Products and Services: Optical stores offer a diverse selection of eyewear products and services, including prescription glasses, sunglasses, and contact lenses. Eyewear sales via e-commerce are likely to continue to grow post-pandemic, as consumers look for convenience and ways to control their spending. It is expected to reach USD 43. Career Retailing developments. Types of Specialized Software for Optical Retail Stores An increase in optical-related purchases in 2023 led to a slight growth in the optical industry in the past year, according to a new report released by The Vision Council. Optical Retail Software is a specialized suite of digital tools designed to optimize and streamline the operations of optical retail stores. It is arguably the best Cloud base CRM and POS for optical retail stores. optical industry for 2023. At present, the GOC estimates that only around 57% of optical businesses are registered with the optical New insights about the size of the U. Using modern research infrastructure, updated data sources, advanced analytics and a refined methodology, the Market inSights 2023 report estimates that the optical market is Eyewear companies snapshot. What's included in this industry? Prescription eyeglass retailing Contact lens retailing Sunglass retailing Optical accessories retailing In-house lens processing Lens grinding Companies The glut of retail square feet already on the market will increase, putting more downward pressure on retail real estate values. 43,000 crores by 2015. There are 23,048 companies classified in this industry in the USA with an estimated employment of 77,864 people. This new report, which gauges the performance, expansion activity and estimated sales of the U. Number of optical retail outlets in The optical industry in 2025 demands a balanced approach that blends aesthetics, technology, and consumer-centric strategies. 7 per cent were younger than 39. This was only a small increase compared to 2022 at 6. 5% ** between 2022 and 2030. ; Dubai, UAE: Optitalia Group, one of the GCC’s leading companies in the distribution of eyewear, is proud to The optical retail industry in India is thriving, with numerous players offering diverse products and services to meet the evolving needs of customers. It supports barcode scanning and The optical industry in India is growing rapidly, with the eyewear market expected to reach Rs. Bringing you the best content from thousands of sources, covering product, research, trends, and more. Luxottica is the leading optical retailer in the United States in the eyewear industry. The brand currently operates over 4,600 stores, generating about $2. These conditions impact vision and can lead to severe complications if left untreated. Additionally, the increasing awareness of eye health and the growing popularity of Key takeaways include an estimate that the overall size of the optical retail industry is $76. Optometry practices and optical dispensing stores have contended with an increasingly competitive operating environment in recent years. Optometrists and Ophthalmologists . The global shift towards automation and digitization across industries propels the OCR market. As Baby Boomers enter their golden years, Americans are older than ever before — and the number of Americans aged 65 and older is expected to The Eyewear market in Germany is projected to grow by 1. It caters specifically to the unique needs of eyewear retailers, covering everything from inventory management to appointment scheduling and beyond. +34 93 116 07 80 contact@horizonsoptical. In this report, we assess the overall health of the retail sector and retailers who can effectively navigate the changing market terrain are poised for significant growth. The optical industry in particular benefits from individual customer solutions. Apply to Optical Manager, Optician, Senior Regional Manager and more! Number of optical retail outlets in selected European countries 2020 Number of optician retail outlets per 10,000 population in selected European countries in 2020 Optical Goods Stores . 4B optical retail market in 2015. A few themes came up on a number of The competitive landscape of the industry has also been examined along with the profiles of the key players. Published at 12:00 on 02/01/2025. 6 billion, with 93% of US adults iVend is a well-established player in the optical retail software industry, offering a range of features tailored to meet the unique needs of optical retailers. Centuary Mattresses, a prominent name in Local optical associations’ reports in countries of interest state that optical retail industry is experiencing a significant amount of pressure due to the worsened economy and higher than before levels of competition (for the list of optical associations in European countries see: The European Council of Optometry and Optics, 2013). Retail e-commerce registered another year of positive growth as consumers continue to appreciate the EssilorLuxottica eyewear brand Luxottica was one of the leading optical retailers in the United States in 2021, generating approximately 2. Creating value for the optical industry. Eyewear. What do the Figures in the Optical Industry say? In a recent study, the Vision Council found that in 2020, 30% of eyeglass buyers went online to compare prices, find their frames, or locate eyewear professionals. If you're operating an optical store or planning to launch one Furthermore, the trend of online retailing has also touched the optical industry, urging physical retail locations to adapt by enhancing in-store experiences and customer service to remain competitive and keep their optical business profits healthy. Therefore, the inquiries want to research the impact of quality service on optical retail customer satisfaction. Eyewear Sector Outlook. C/ Jesús Serra Santamans 2-4, Edificio 2, 1ª planta 08174 - Sant Cugat del Vallès, España T. Learn more . 8) Maximize Your Optical Store’s Potential with Customized Reports and Analytics: The Reports and Analytics Dashboard feature of Ari’s optical software for retail provides optical store owners like you with comprehensive reports and data analytics. Leading optical shops often aim for scores above 85% to ensure a competitive edge. “We embarked on our journey with a mission to address Alexandria, VA – May 23, 2024 – Today, The Vision Council released two new reports offering a comprehensive view of the optical industry for the first quarter of 2024. The Market inSights Q3 2024 report reveals industry performance across a variety of categories, including eye exams, eyeglasses, frames, lenses, contact lenses, readers and plano In our Global Retail Outlook 2024 report, we asked 200 retail leaders around the globe to provide their expectations for revenue and operating margin for the industry as a whole. General merchandise stores: Department Now Optics is an eye health industry leading company offering health, retail and franchise services in the eye care industry since 2006. Retailing developments. Class Optical is the market leader in the optical industry in Malta with over 40 years of experience in manufacturing, trading and retail. 7. You can boost the retention of customers by effectively using POS systems in conjunction with proven strategies as an Uncover industry trends across home & garden, home care and pet care. What is Optical Retail Store Software? Optical retail store software is a specialized technology solution designed to simplify and optimize the operations of optical retail stores. Everyone from celebrities to actors to athletes can be seen sporting stylish, corrective lenses – the emphasis being on “stylish. 1/3rd of our population Wenzhou has become the World High-quality Eyewear Manufacturing Heartland & International Brands and Global Leading Optical Retailers Supplier Center. Optical retail is indeed a graying industry. The essential nature of the optical goods industry has resulted in consistent steady growth for the UK eyewear market. It is therefore expected that the future of Eyewear industry in business-to-business (B2B) segment holds immense potential for innovation and growth. 31, 2024. 6 billion. Analyse the size, structure and potential of business-to-business (B2B) markets Premiumisation continues to be a trend embraced by many optical retailers, boosting sales performance in luxury eyewear. Online retailing . Life in optics moves fast, and the past year has seen a number of changes at the top. Eyewear is big business. 2,766 Optical Manager jobs available on Indeed. A large portion of the population suffers from vision impairment and eye diseases. This reality makes many traditional ECP-owned optical shops potentially available to companies hungry to expand their market share. LensCrafters, one of North America’s largest optical retail brands, has announced its new store opening in Saket, New Delhi. Eyewear Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2025 - 2030) The Eyewear Market Report is Segmented by Product Type (Spectacles, Sunglasses, Contact Lenses, and Other Product Types), In 2025, the revenue in the Eyewear market is projected to reach US$151. Customized solutions are key to the optical industry. We would like to show you a description here but the site won’t allow us. mass merchants with optical departments 2022; Global revenue of EssilorLuxottica 2019-2023, by geographical area Our software is tailored to the optical retail industry, and we've included all of the functionality that every optical retailer needs. 7% over the forecast period. Our reports feature a we Market research on the eyewear industry. The Company presently have 100+ optical retail stores, spread across all the major cities of India. 22 billion euros. The continued growth of national and multinational optical retail chains. By focusing on upgrading store interiors, enhancing customer experiences, and adopting a clear vision-fashion strategy, optical retailers can remain competitive and foster long-term growth. Currently, optical stores account for the largest market share. 80% (2025-2029) resulting in a market volume of US$9. Establishments primarily engaged in retailing non-prescription sunglasses are also included. All-in-one software Billing software, inventory software, bar-code software, CRM, accounting software, bulk promotions, WhatsApp and more are all part of it. Its relevance is particularly noteworthy in the ever-evolving retail landscape. Sporting goods, hobby, book and music stores 8. optical industry. 1 billion in revenue in 2022, which is expected to reach USD 332. Jan. 1 The resiliency of the industry Looking at the market over Originally developed as a universal framework, this method enables businesses in various sectors, including the optical industry, to analyze their internal and external environments effectively. Mr. As one of the largest optical retail chain in Malaysia, we house numerous retail brands under our umbrella catering to different niches in our community. You are also responsible for the safety of the store keys. Himalaya Optical is known for its commitment to customer satisfaction and its focus on providing high-quality eye care solutions to the Indian population. 30bn in 2029. Finding quality staff is a major challenge for optical retailers in the industry, with many businesses struggling to attract and retain skilled professionals . Most research is only focused on more complicated theories structures about the perceived and expected service quality. Read more. 0 billion by 2030, growing at a compound annual growth rate (CAGR) of 8. Glasses have moved from medical necessity to fashion statement. The Optical Goods (Retail) industry in the USA is expected to grow in the coming years due to the increasing demand for eyewear products. SIC Code 5995 - Optical Goods Stores is a final level code of the “Retail Trade” Division. It was new and continued private equity-driven investments in optical and optometric retail and solid organic sales growth from value-sector opti-cal retailers that reflected a higher dollar volume among the 50 U. Subscribe * indicates required. Players in the industry will have to adapt their retail strategies to remain competitive. The Market inSights Q1 2024 and Consumer inSights Q1 2024 reports feature market data and analysis estimating the performance of the optical industry, and highlight consumer behavior related to managed The purpose of this study is to determine the impact of adopting a artificial intelligence-embedded customer relationship management (CRM) system for business-to-business relationship management. This trend is expected to continue growing, as a record 80% of consumers who recently bought eyewear said they would use the internet for The COVID-19 pandemic has had an adverse impact on the Malaysia Eyewear Industry as the initial stage of the pandemic resulted in a huge decline in sales owing to the government-imposed lockdown. Keep reading to learn about the six major In Malaysia, the revenue in the Eyewear market is projected to reach US$558. Pros: Comprehensive Inventory Management: iVend excels in managing optical inventory, allowing you to track frames, lenses, and accessories efficiently. 24 billion, with forecast growth of 7. 69 and Greece with 2. It is projected that the market will grow annually by 2. The Vision Council released a new set of comprehensive data estimating the size of the U. Helping you make informed decisions and improve your optical store’s performance. Among the top ten providers are well- Optical shop software, also known as optical store software or optical shop management system, is a specialized technological solution designed to streamline and enhance various operations within an optical retail store. ” 2023 Key Takeaways: • The total optical market value for 2023 is $65. After spending more time at home complying with containment measures in the At the end of 2023, OT asked Euromonitor International analysts, and representatives from businesses across the optical industry, to pinpoint some of the key developments that shifted the market over the year. Inside Retail: Can you tell us about the Tanaka Optical story? Salena In 2025, the revenue in the Eyewear market in Singapore is expected to amount to US$434. ; Dubai, UAE: Optitalia Group, one of the GCC’s leading companies in the distribution of eyewear, is proud to Key takeaways include an estimate that the overall size of the optical retail industry is $76. This growth has been driven by factors such as increased consumer spending, the rise of e-commerce, and technological advancements that have revolutionized how retailers operate. The prevalence of ocular diseases, such as cataracts, glaucoma, and age-related macular degeneration, is on the rise globally. Current Market Landscape With COVID-19 restrictions coming to an end in the UK, optical goods specialists have gradually been returning to The rationale for the present study was the fact that optical retail industry in the countries of interest was experiencing significant amount of pressure due to the worsened economy and higher than before levels of competition. According to the Annexe Cloud, you can raise your profitability by up to 95% with only a 5% increase in customer retention. This industry has been through a number of changes. In the ever-evolving landscape of retail, Lenskart has emerged as a trailblazer, revolutionizing the eyewear industry in India. Breton Communications 2012 survey found that 67. According to Vision Monday, the top ten largest U. 9 Billion by 2033, exhibiting a growth rate (CAGR) of 6% during 2025-2033. 's leading optical retailers and ECP groups over a 10-year period, has been designed to provide 4 Europe Economics(2013) – “Optical Business Regulation” [online] 5 Ocuco (2020) – “Ecommerce in the Optical industry” [online] 6 General Optical Council (2013) – “Review of business regulation: consultation” [online] 7 General Optical Council (2022) – “Call for evidence on the Opticians Act and consultation on associated GOC This will see a significant increase in the proportion of optical businesses that are registered with the GOC. Whilst that market did drop off during the This cultural shift in perception is helping to support the thriving optical retail industry. Some have moved up, some down and many held its own, the optical industry’s total sales rose just slightly and remained stable. S. The upbeat environment and the optical trade’s open-mindedness to embrace platforms like ZEISS ‘YOU&EYE’ AWARDS, among many others across categories, does hint at the dawn of a new era in the industry. Ramachandran Parthasarathy 44-45 - Retail trade; 456 - Health and personal care retailers US; 4561 - Health and personal care retailers US; 45613 - Optical goods retailers US. The Market inSights 2023 report, released January 23, found that the total optical market value for the past year is estimated around $65. NAICS 446130: This industry comprises establishments primarily engaged in one or more of the following: (1) retailing and fitting prescription eyeglasses and contact lenses; (2) retailing prescription eyeglasses The top of each Retail Segment Page on The ROI site includes the NAICS code and the NAICS definition for The retail industry remains one of the most dynamic sectors globally, with total global sales projected to reach nearly $30 trillion by 2024. There have been challenges but as the economy opens up, there is a revolution brewing in the trade. Optical goods stores continued to dominate retail value sales of eyewear in the UK in 2024, as local consumers still very much value the professional advice of in-store experts, not to mention the personalised approach of the optician when purchasing spectacle frames, spectacle lenses, contact lenses and sunglasses. Additionally, the increasing awareness of eye health and the growing popularity of eyewear as a fashion accessory are Analysts at Mintel reviewed the nature of the optical goods industry and eyewear market in the UK Optical Goods Retailing Market Report 2024, exploring current and future trends in the industry. If you have an OD seeing patients in addition to a retail optical selling materials, then patient volume is an important metric. 40bn worldwide. 23% over the forecast period (2024-32). It includes companies engaged in the production of prescription glasses, sunglasses, contact lenses, and other vision-related products. It helps in inventory, managing sales, billing processes, and customer information specific to the optical retail industry. Read on to find out Speaking of which, Optical CRM is the pioneer in CLOUD base CRM and POS Software for the optical retail industry. Indian optical industry is currently going through a transition phase in the mid to long term. This growth can be achieved through digital transformations by the adoption of An optical retailing store is under the industry of virtually the same name, the retail optical industry. Optical dispensers operate retail outlets that sell spectacles and other visual aids. These establishments may or may not grind lenses to order on the premises. Optical Services All Open Despite 2nd Lockdown for more details of how the prices can vary across the retail industry. The global traditional eyewear, contact lenses, and smart glasses markets cumulatively accounted for USD 171. Annual car sales worldwide 2010-2023, with a forecast for 2024; Monthly container freight rate index worldwide 2023-2024; Automotive manufacturers' estimated market share in the U. 2023 Sales of the leading U. From 1996 to date, we have accumulated more than 220 international I have had the opportunity to meet dozens of experienced #optical retailers and distill the challenges that they face on this fast-shifting economic ground. Online eyewear rivals gained significant ground during the COVID-19 pandemic, adding to the industry's challenges. Careers; Home; Company. Health & personal care stores: Pharmacies, beauty supplies, cosmetics, optical goods. Founded in the year 1935, headquartered in Kolkata, India. To address this weakness, optical retailers should prioritize employee development programs. VISION INDUSTRY is the first optical experiential-retail concept which offers the widest eyewear assortment and features a design hub, state-of-the-art eye-test facilities, sustainability corner, café, eyewear-museum, and a fully operational artisan lab. The online optical retail industry in the UK is continually evolving and adapting to the needs and behaviours of consumers, which is increasing its growth potential in the overall eyewear market. They are the largest company in the world, responsible for Alexandria, VA – January 23, 2024 – Today, The Vision Council released a new set of comprehensive data estimating the size of the U. 25 May 2018 Sean Rai-Roche Business. Eyewear forms part of the Health/Medical industry, which is the 2nd most popular industry and market group. However, tangible changes can only happen if you consistently review your retail optical performance. By offering unparalleled service, the highest quality branded eyewear and cutting-edge optical technology, LensCrafters revolutionizes and reimagines the eyecare experience for consumers everywhere. Our Laboratory . Eye Care Professionals and Retail Optical Beginning in 2014, HPC Puckett leveraged its twenty years of experience in the optical sector, and began working with financial and strategic purchasers, to develop a market for its clients to sell local and regional multi-location practices and dispensaries, including both consolidated eye care professionals and retail optical over 300%exist between the cost and retail price of certain products 3 Major challenges/opportunities in the market • Fragmented market Presence of few organized players with limited outlets –only 20% of the market is branded. Together with a team of driven professionals, we set the benchmark for professional eye care in today’s optical industry. 0 - This industry comprises establishments primarily engaged in retailing and fitting prescription eyeglasses and contact lenses. Investing in training and development initiatives can help employees acquire new skills and In 2023, the optical industry generated a revenue of around 6. The pandemic has taught a lot to the Indian optical community. 2023; Sales of the leading U. When possible also through efficient handling of optical trays, smart stacking and sorting, and product handling with robotics. 2023 The United States' retail optical industry supplies consumers with prescription eyewear through over 14,000 retail outlets. Optical goods stores dominate the distribution of eyewear in Mexico with the channel having a large number of outlets, but with a strong Product Description. Eyewear Market in India 2021. For starters, the corporate and retail companies continued to expand. 69 optical retail outlets per 10,000 population. Indian Eyewear Industry is one of the fastest-growing retail industries in the country. optical retailers represented 30. The #1 newsfeed for the Optical Insider industry. 5 billion with more than 48,000 brick and mortar optical retail locations in business. These top 10 optical retail chains have distinguished themselves through their quality, innovation, and customer-centric approaches, making them the preferred choices for eyewear and eye care Indian optical industry has sailed through the most difficult year of this century. In my experience, I find that certain larger suppliers and retailers are increasingly adopting vertical integration strategies (from manufacture to retail to This market report covers the market size, market forecast, market segmentation and industry trends for the Optical Goods Retailing market in the UK. 45 billion in 2023. Our reports feature a wealth of standardised and cross-comparable statistics including total market sizes, market share and with innovative solutions to develop the optical retail environment. This shift is not merely a reflection of changing fashion trends but is deeply rooted in the demographic transitions that are reshaping market dynamics. That’s what’s made it so attractive for many investment firms over the last couple of decades with a great deal of consolidation within the industry from independents Optometric offices to optical stores, and the acquisition of some retail chains. Retailers will respond by continuing to invest in technology, such as try-ons, and in developing an omnichannel AN OVERVIEW OF THE OPTICAL RETAIL INDUSTRY The optical industry has seen heavy consolidation led by the largest retail providers. the literature, it was found that there is not much research in the optical retail industry. Most of the stores carry multi-brands and have shop-in-shop formats • Limited penetration in lower tier towns Optical Retail Chain Industry Overview. In the early days, Specsavers introduced the concept of offering both eyewear and hearing services under one roof, revolutionizing the optical retail industry. 5 billion in retail sales each year. 7 billion, according to the recently released annual report by Vision Monday. It offers many high-quality eyewear products, including glasses, sunglasses, Local optical associations’ reports in countries of interest state that optical retail industry is experiencing a significant amount of pressure due to the worsened economy and higher than before levels of competition (for the list of optical associations in European countries see: The European Council of Optometry and Optics, 2013). In my experience, I find that certain larger suppliers and retailers are increasingly adopting vertical integration strategies (from manufacture to retail to Industry definition. Local optical associations’ reports in countries of interest state that optical retail industry is experiencing a significant amount of pressure due to the worsened economy and higher than before levels of competition (for the list of optical associations in European countries see: The European Council of Optometry and Optics, 2013). As a Retail Store Manager, you must lead your subordinates by setting up examples in the most professional manner, motivate to improve their performance, train them to improve their skills, delegate work to improve their affectivity and appraise them honestly. 33. 8. If you're interested in the Health/Medical market, also check out the top Healthcare, Due to the retail industry’s importance, economists always keep an eye on its quarterly sales reports, because it is one of the most vital sectors of the economy. For example, vision care products sold at optical retail locations in the United States is a multi-billion dollar market. Though online retailers have yet to surpass physical shops, the innovations over the past few years have made it a more viable avenue for eyewear shopping. dollars in sales. 35% (CAGR 2025-2029). OT heard from Fiona McDonald, retail analyst at Mintel, about key trends in the industry, and consumer habits. Your data will be perfectly imported into this retail optical store software while ensuring precise data mapping and rigorous data quality assessment – without affecting your business continuity. Market research on the eyewear industry. retail Lens grinding, ophthalmic, in retail stores Optical goods stores, retail Opticians, retail Prescription eyeglasses and contact lenses Here Salena Watanabe, CEO of Tanaka Optical‘s newly created FLO Optics entity in Singapore, discusses the business’ global expansion, its omnichannel strategy — and how it survived the World War II bombing of Hiroshima. This variety allows them to cater to a wide range of customer needs, ensuring that customers Profitability is vital and challenging to attain in an increasingly competitive optical industry. 4 billion U. The industry is now hopeful With a vast inventory of 11,000 IT assets spanning India, Lenskart heavily depends on IT for seamless daily operations across its extensive network of retail stores. Looking forward, IMARC Group expects the market to reach USD 285. The market is experiencing robust growth driven by factors such as the rising prevalence of visual impairments, emerging The global optical industry continues to be led by eyewear giant EssilorLuxottica SA in 2024, benefiting from a strong brand identity, not to mention expanded efforts in innovation technologies and a strengthening luxury brand portfolio. Vision Source, an optical retail franchise with close to 3,000 locations owned by Essilor of America, tops the ranking with Market research agency, Mintel’s UK Optical Goods Retailing Report 2023 traces the recovery of the market since the height of the pandemic, and the challenges that remain ahead for the sector. 6 billion, while 98 million frames were sold in 2022 for a total value of $12 billion. They operate from specialised stores where trained opticians are available to assist customers in selecting the appropriate frames. Developed by a leading provider of optical retail software solutions, iVend Optical presents easy to use tools to In this year Cyprus had the highest number of retail outlets with 2. Here, OT outlines key Opening the store in time in the morning and closing the store. Ramachandran Parthasarathy shares his insights. Therefore, for both companies retaining existing customers and improving weaknesses in their CRM approach was The optical industry encompasses various sectors involved in the manufacturing, distribution, and retailing of eyewear products. That makes for a substantial global optical retail market, which currently sits at US$ 279. 33 optical retail outlets per 10,000 VISION INDUSTRY is the first optical experiential-retail concept which offers the widest eyewear assortment and features a design hub, state-of-the-art eye-test facilities, sustainability corner, café, eyewear-museum, and a fully operational artisan lab. This growth presents an opportunity for new shops that are well-staffed and equipped to meet consumer demands. 5% of sales within the estimated $34. The demand for eye care services isn’t going away any time soon, and its sustained growth is due to America’s aging population. For the purposes of this report, optical retail outlets specialise in dispensing and fitting eyewear and contact lenses. At present, there are about 1,000 optical manufacturing enterprises in Wenzhou, more than 70 enterprises and 30 manufacturing factories equipped 300 employees. 6 Billion in 2024. It’s a growing market, fuelled by an increased awareness of eye health and the importance of regular examinations, combined with consumers’ continuing love affair with There is a profound transformation driving the eyewear industry due to technological advancements and evolving customer preferences. How to Improve. 0 percent year-on-year to $18. Specsavers has grown significantly since its inception. Optical stores have several inherent strengths that contribute to their success. Lenses make up nearly one-third of the market with a value of $23. Our team’s experience, the breadth of our research products, and custom research capabilities distinguish The Vision Council as the . It is expected to grow at an annual rate of 3. Limited visibility into real-time data and historical information about tickets, user accounts and asset life cycles was hindering its ability to operate efficiently. This was closely followed by Greece with 2. 6 billion, What poses a significant threat among the players in the Optical retail industry is not the rival stores themselves but the very powerful and popular online shopping. 25% (CAGR 2025-2029). The rationale for the present study was the fact that optical retail industry in the countries of interest was experiencing significant amount of pressure due to the worsened economy and higher than before levels of competition. The output of lens accounts inSights Research Program Powered by The Vision Council From consumer trends to industry perspectives, The Vision Council’s inSights Research Program delivers the timely, usable data and in-depth analysis members need to succeed. 3. Latest updates. Founded in 2010, the brand has redefined the way consumers shop for eyewear, leveraging technology and innovation to enhance customer experiences and bridge the gap between online and offline retail. 2 optical retail outlets per 10,000 population, the UK placed 18th in Europe in 2020, well behind Cyprus at 2. You choose from an assortment of frames, buy a pair as is, or have the lens fitted for your visual needs. By embracing innovations in eye care, virtual try-ons, inventory management, online integration, telehealth, customer engagement, and service enhancement, you can position your business as a leader in the industry. . – November 15, 2024 – Today, The Vision Council released a report featuring new market data and analysis estimating the performance of the $18. 70m. In other words: making production processes increasingly more efficient. Analyse the size, structure and potential of business-to-business (B2B) markets. • With the growing demand for eyewear and the advancements in lens technology, optical retail has evolved into a sophisticated industry. According to a GfK market report commissioned by the UK’s Optical Suppliers Association (OSA), the number of optical frames sold by optical retailers in the country is on track to reach 12 million units this year, with an average retail price of £78 The desire for clear sight is universal, and three-quarters of the global adult population uses vision correction products, with 64% * wearing glasses. Prescription eyewear retailers accumulated $7 billion in sales in 2010 The optical retail chain market refers to the industry sector composed of businesses selling eyeglasses, contact lenses, sunglasses, and related visual products through retail stores. Alternatively, the market can be divided into four main categories: Program provides a comprehensive perspective on the state of the optical industry through quarterly consumer survey reports; quarterly in-depth special reports on eyewear and eyecare Eyewear Market Size, Share & Industry Analysis, By Product Type (Spectacles {Frames and Lens}, Sunglasses {Plano and Prescription}, and Contact Lens {Toric, Multifocal, and Sphere}), By Distribution Channel (Retail The continued growth of national and multinational optical retail chains. It is also now a safe hypothesis to state that optical retail in India cannot succeed with Sales of the leading 15 optical retailers in the U. It couldn’t be a better time to invest in the optical industry. Nevertheless, despite optical stores having reopened and remaining open during the majority of 2021 and the beginnings of 2022, some British consumers were still hesitant about visiting stores due to the spread of the new Omicron variant, which was a reminder that the COVID-19 pandemic was far from over. However, the optical industry still faces hurdles in effectively managing inventory and distribution processes. It is commonplace for frames with lenses to total more than £500 per pair with several of our high street retailers. And it probably seems like a fairly obvious one. Online retailing has gained increasing popularity amongst certain sections of the spectacle wearing community. Pick your industry interests and stay up-to-date with the most relevant news to your business. To ensure effective operations, it is also essential to maintain good communication within your team. The opening of the first Kering Concept Store in New Standards of Practice for Optometrists and Dispensing Opticians, Standards for Optical Students, and Standards for Optical Businesses came into effect from 1 January 2025. Currently, the market trend According to a report by IBISWorld, the optical retail industry has grown at an annual rate of 3. mass merchants with optical departments 2022 Global revenue of EssilorLuxottica 2019-2023, by geographical area Improving your practice's bottom line is always a welcomed change. 2 per cent of respondents were aged 40 or older and just 31. Specialists in Trading, Export, Retail & Manufacturing Industries providing efficient solutions and remarkable service. The global optical character recognition market size was valued at USD 10. 90m by 2025, with an annual growth rate of 3. Using modern research infrastructure, updated data sources, advanced analytics, and a refined methodology, the Market inSights 2023 report estimates that the optical market is valued at $65.