Industry Analysis & Industry Trends
Over the past five years, the Eye Glasses and Contact Lens Stores industry has benefited from favourable population demographics. For example, the burgeoning elderly population has boosted the number of optometrist visits to address age-related eyesight issues, such as cataracts and glaucoma. As a result of this trend, more individuals have been conscious of changes to their eyesight prescriptions, thus prompting consumer demand for prescription eyewear. In the coming years, the industry will continue to experience revenue growth, thanks to the burgeoning elderly population's bolstering the prevalence of age-related eye issues... purchase to read more
Industry Report - Industry Products Chapter
This product segment makes up the largest share of industry revenue. In 2016, prescription glasses are expected to make up 29.5% of total revenue. While brick-and-mortar optical retailers have contended with external competition, namely from online retailers, this trend has failed to cut into sales volumes for this product segment. For example, according to Statistics Canada, in 2012 (latest data available) prescription eyeglass purchases merely comprised 6.0% of total online sales.
As a result, many consumers have still preferred to visit brick-and-mortar retailers to purchase prescription glasses and lenses. In addition, over the next five years, the burgeoning elderly population is expected to stimulate demand for this product segment... purchase to read more