Seeing clearly: The increasing elderly population will boost industry demand

The Eye Glasses and Contact Lens Stores industry has experienced growth over the five years to 2018, due to an increasing elderly population and eye glasses' status as a fashion accessory. As the elderly population increases, demand for prescription eyewear increases, as vision-impairments caused by old-age cannot be surgically corrected. Among other population demographics, increasing per-capita disposable income has increased the attractiveness of high-end, fashionable eyewear. Moving forward, the industry is expected to experience consistent growth as current drivers continue to increase demand over the five years to 2023...purchase to read more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23

Industry Threats & Opportunities

  • As economic conditions continue to improve and per capita disposable income is forecast to rise, consumers will increase their expenditures
  • Consistent demand and favorable economic conditions have enticed new operators
  • Rising competition from other eyewear retailers will incite many stores to consolidate
  • Industry Report - Industry Locations Chapter

    As is common with a retail industry, the location of establishments falls broadly in line with population trends. Revenue distribution closely follows establishment spread, as optical services are provided on a small geographical scale. Typically, areas with a larger number of residents have higher demand for optical good stores to service expanding residential areas. Industry activity is concentrated in the Southeast and Mid-Atlantic regions, which account for 23.2% and 22.8% of total establishments in the United States, respectively. Participants often locate themselves in regions where there is a high proportion of the population that is more likely to require glasses or contact lenses, such as where there is a concentration of elderly citizens.New York alone accounts for 11.0% o...purchase to read more.

    Additional Insights for the Eye Glasses & Contact Lens Stores Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Eye Glasses & Contact Lens Stores Industry are

  • Ability to control stock on hand
  • Ability to franchise operations
  • Proximity to key markets
  • IBISWorld analysts also discuss how external factors such as Per capita disposable income and Number of adults aged 50 and older in the Eye Glasses & Contact Lens Stores industry impact industry performance..

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    What's in this report

    What is the Eye Glasses & Contact Lens Stores Industry?

    Establishments in this industry sell eyeglasses, contact lenses, sunglasses, safety eyewear and optical accessories. These retail stores may also provide fitting and lens processing services. The industry excludes the manufacture of lenses, online and mail-order retail of optical goods and sales at optometrists’ offices.

    Industry Products
  • Nonprescription eyewear
  • Eye examinations
  • Contact lenses
  • Prescription eyeglasses
  • Other optical goods
  • Industry Activities
  • Prescription eyeglass retailing
  • Contact lens retailing
  • Sunglass retailing
  • Optical accessories retailing
  • In-house lens processing
  • Lens grinding
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Per capita disposable income
  • Number of adults aged 50 and older
  • Percentage of households with at least one computer
  • Federal funding for Medicare and Medicaid
  • External competition for the Eye Glasses & Contact Lens Stores industry

  • Current Performance
  • Changes in purchasing behavior
  • Industry structure
  • Changing demographics
  • Chart: Revenue Growth

  • Industry Outlook
  • Industry structure
  • Vertically-integrated industry operators
  • Pediatric eye care
  • Table: Eye Glasses & Contact Lens Stores Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Eye Glasses & Contact Lens Stores Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Glasses & Contact Lens Manufacturing
  • Glasses & Contacts Wholesaling
  • Optometrists

  • Products & Services
  • Prescription eyeglasses
  • Nonprescription eyewear
  • Contact lenses
  • Other optical goods
  • Eye examinations
  • Chart: Eye Glasses & Contact Lens Stores Industry Products and Services Segmentation

  • Demand Determinants
  • Insurance benefits and disposable income
  • Product innovation

  • Major Markets
  • Direct patient payments
  • Government programs
  • VSPs
  • Self-directed vision plans
  • Private medical insurers
  • Other
  • Chart: Major Market Segmentation for the Eye Glasses & Contact Lens Stores Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Depreciation and other expenses
  • Chart: Cost Structure Benchmarking – Sector vs Eye Glasses & Contact Lens Stores

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Eye Glasses & Contact Lens Stores Industry

  • Industry Globalization
    Luxottica Group SpA, National Vision Inc., Highmark Inc.,
  • Table: Luxottica Group SpA - financial performance
  • Table: National Vision Inc. - financial performance
  • Table: Highmark Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Eye Glasses & Contact Lens Stores Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Eye Glasses & Contact Lens Stores Industry
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Number of adults over 50 years old (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
  • An eye condition that causes a disturbance in the way that light rays are focused within the eye.
  • Autorefractor
  • A machine used in eye exams that measures how light is changed as it enters the eye.
  • Cataract Surgery
  • An eye surgery that involves removing all or part of the lens and replacing it with an intraocular lens implant.
  • Electronic Data Interchange (Edi)
  • The transmission of electronic documents between businesses from one computer system to another.
  • Optometrist
  • Individuals that earn a Doctor of Optometry degree, perform eye exams, write prescriptions and dispense eyewear.
  • Phoropter
  • An instrument containing various lenses used to measure the patient's eyeglass or contact lens prescription.
  • Point-Of-Sale (Pos)
  • A system used at checkout in retail stores using computers and cash registers to capture transaction data at the time and place of sale.
  • Slit Lamp
  • Used alongside a biomicroscope (a microscope used on the body) to magnify the eye and identify physical abnormalities.
  • Tonometer
  • Used to test for glaucoma in the eye, this instrument blows a small puff of air into the eye to test the pressure.
  • What Our Customers Say

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    The Eye Glasses & Contact Lens Stores industry market report contains strategic analysis of the key drivers influencing the industry. Save hours of time on research and prospecting using IBISWorld’s standardized, up-to-date reports on thousands of industries. Our industry research provides growth and profit forecasts for a five-year outlook period, presented in a clear and user-friendly format.

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    This report on Eye Glasses & Contact Lens Stores:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Eye Glasses & Contact Lens Stores market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

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