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:6/26/2016)... N.J. (PRWEB) , ... June 27, 2016 , ... Quality ... sources, yet in many ways they remain in the eye of the beholder, according ... (EBO), a publication of The American Journal of Managed Care. For the full issue, ...
(Date:6/26/2016)... Orion, Clarkston, Michigan (PRWEB) , ... June 26, ... ... with respect to fertility once they have been diagnosed with endometriosis. These women ... intercourse but they also require a comprehensive approach that can help for preservation ...
(Date:6/25/2016)... ... 2016 , ... First Choice Emergency Room , the largest network of ... Medical Director of its new Mesquite-Samuell Farm facility. , “We are pleased to ... said Dr. James M. Muzzarelli, Executive Medical Director of First Choice Emergency Room. ...
(Date:6/24/2016)... ... June 24, 2016 , ... A recent article published ... unfamiliar with. The article goes on to state that individuals are now more comfortable ... less common operations such as calf and cheek reduction. The Los Angeles area medical ...
(Date:6/24/2016)... ... June 24, 2016 , ... Global law firm Greenberg ... Legal Elite. The attorneys chosen by their peers for this recognition are considered among ... Greenberg Traurig Shareholders received special honors as members of this year’s Legal Elite Hall ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... , June 24, 2016 Research and ... Market for Companion Diagnostic Tests" report to their offering. ... for Companion Diagnostics The World Market for ... personalized medicine diagnostics. Market analysis in the report includes the ... Market (In Vitro Diagnostic Kits) by Region (N. America, EU, ...
(Date:6/24/2016)... 2016   Pulmatrix, Inc ., (NASDAQ: ... drugs, announced today that it was added to the ... its comprehensive set of U.S. and global equity indexes ... important milestone for Pulmatrix," said Chief Executive Officer ... our progress in developing drugs for crucial unmet medical ...
(Date:6/24/2016)... , June 24, 2016  Arkis BioSciences, ... less invasive and more durable cerebrospinal fluid treatments, ... funding.  The Series-A funding is led by Innova ... Fund, and other private investors.  Arkis, new financing ... instrumentation and the market release of its in-licensed ...
Breaking Medicine Technology: