Navigation Links
Eye Glasses & Contact Lens Stores in the US Industry Market Research Report from IBISWorld Has Been Updated
Date:1/12/2014

New York, NY (PRWEB) January 12, 2014

Despite the recession, the Eye Glasses and Contact Lens Stores industry experienced slight growth during the past five years due to strong demand for eyewear products from the aging population. In 2009, eyewear sales were slightly propped up by stable need-based demand; however, revenue still declined as many consumers lowered their demand for brand-name eyewear and put off nonmedical eyewear purchases. Additionally, many consumers curbed their demand for fashionable eyewear and colored contact lenses, which limited industry revenue growth. Nevertheless, growth in disposable income, coupled with the aging population demanding more industry products, supported revenue growth over the period. For example, 60.0% of industry revenue stems from sales of prescription glasses and frames, which older individuals are more likely to use, compared with younger consumers. Over the five years to 2013, industry revenue is anticipated to grow at an annualized rate of 0.4% to $9.5 billion, including revenue growth of 1.1% in 2013.

According to IBISWorld Industry Analyst Sarah Turk “While cost-cutting strategies such as consolidation boosted industry profitability, this trend was offset by optical retailers incurring high raw material prices such as petroleum, which is an input in plastic lenses and frames.” Many operators are not vertically integrated and thus do not include manufacturing in operations, which caused operators to contend with volatility in eyeglass and frame prices. Industry operators also struggle to generate sales in a mature market. Due to most potential customers already owning corrective lenses, new sales generally depend on prescription and technological changes. Furthermore, many individuals are receiving corrective eye surgery, which limits demand for industry products. As a result of high competition between industry players and alternative eyewear retailers such as Costco, the industry is consolidating.

During the five years to 2018, the industry will exhibit stronger growth compared with the previous period. “Despite growing concentration among the top companies, the rest of the industry remains fragmented through small retail chains and independent locations,” says Turk. Nevertheless, the industry is expected to grow in line with the rebounding economy, but necessary prescription adjustments and new prescriptions will also drive growth as many consumers put off these purchases during the recession.

For more information, visit IBISWorld’s Eye Glasses & Contact Lens Stores in the US industry report page.

Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189

IBISWorld industry Report Key Topics

The Eye Glasses & Contact Lens Stores Industry sells 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 Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

Read the full story at http://www.prweb.com/releases/2014/01/prweb11482254.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Vision Without Glasses Review
2. How This Book Helps People Improve Their Eyesight Naturally – HealthReviewCenter
3. China and Global Glasses Lens Industry Development Trends in a New Research Report at DeepResearchReports.com
4. Strobe glasses improve hockey players performance
5. Online Eyeglasses and Contact Lens Sales in Australia Industry Market Research Report Now Updated by IBISWorld
6. New Product Stops Eyeglasses From ‘Nose Slipping’
7. Duke Peterson's Vision Without Glasses Exposed in Review Examining His Program
8. Best Prescription Glasses Review Published by Cherry News
9. Online Eyeglasses and Contact Lens Sales in the US Industry Market Research Report Now Available from IBISWorld
10. Migraine Free Glasses Announces an Exciting Innovation in Migraine Relief Technology
11. Dr. Richard Shuldiner, First in California to Utilize New E-Scoop Glasses, Improve Way of Life for Low Vision Patients Suffering with Macular dDegeneration (ARMD)
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/10/2016)... WASHINGTON, D.C. (PRWEB) , ... December 10, 2016 ... ... children’s Christmas wish lists for Santa are all sources of external stimuli that ... season. For some, the added pressure to spread holiday cheer through gifts, food ...
(Date:12/9/2016)... ... December 09, 2016 , ... ... aural rehabilitation—provided by audiologists—to remain a critical part of public access to hearing ... Administration (FDA) announced this week that, starting immediately, it would no ...
(Date:12/9/2016)... ... December 09, 2016 , ... The Justin Veatch Fund ... (NCADD) is recommending the film Whispering Spirits and its discussion guide for ... as an education tool in the war against teen drug abuse. NCADD is ...
(Date:12/9/2016)... ... December 09, 2016 , ... MEDI+SIGN®, a provider of ... a new solution for Emergency Departments (ED) has been added to their portfolio. ... Department examination rooms, and with a simplified pallet of information available to the ...
(Date:12/8/2016)... ... 08, 2016 , ... After enjoying record-breaking attendance at its ... its 33rd Annual Issues & Research Conference, March 2-3, 2017, at the ... conference is “Persistent Challenges and New Opportunities: Using Research to Accelerate the Dialogue." ...
Breaking Medicine News(10 mins):
(Date:12/9/2016)... Mass. , Dec. 9, 2016 MSD, ... and supply chain solutions to alternate site health care ... with First Choice Medical Supply ("First Choice"), a privately ... servicing the skilled nursing and home health segments. We ... family. This compelling transaction will deliver ...
(Date:12/9/2016)... 2016   Hudes Laser Aesthetica announced ... multi-wavelength Astanza Trinity laser and Astanza Liberty IPL ... tattoo removal, IPL hair removal, pigmented and vascular ... Laser Aesthetica is setting high standards for aesthetic ... promises to deliver effective, long-lasting results. ...
(Date:12/9/2016)... Research and Markets has announced the addition of the ... ... forecasts the global optical transceiver market to grow at a CAGR ... covers the present scenario and the growth prospects of the global ... report considers the revenue generated from the shipment of optical transceivers ...
Breaking Medicine Technology: