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:6/24/2016)... ... 24, 2016 , ... The Pulmonary Hypertension Association (PHA) learned ... receive two significant new grants to support its work to advance research and ... by recognizing patients, medical professionals and scientists for their work in fighting pulmonary ...
(Date:6/24/2016)... ... June 24, 2016 , ... Comfort Keepers® of San ... Society and the Road To Recovery® program to drive cancer patients to and from ... adults to ensure the highest quality of life and ongoing independence. Getting to ...
(Date:6/24/2016)... ... June 24, 2016 , ... EB Medicine presented its first-ever ... Medicine conference in Ponte Vedra Beach, FL. The awards honor the outstanding work ... Practice and Pediatric Emergency Medicine Practice. , “With this award, we recognize ...
(Date:6/24/2016)... ... 24, 2016 , ... Strategic Capital Partners, LLC (SCP) in ... investment capital for emerging technology companies. SCP has delivered investment events and ... more than a million dollars of capital investment for five companies. ...
(Date:6/24/2016)... ... June 24, 2016 , ... Today, MTI-GlobalStem, a ... cells and other difficult to transfect cells, announces its launch of the PluriQ™ ... Gene Editing System is a complete system for culturing and transfecting human ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... -- MedSource announced today that it has selected Datatrial,s ... choice.  This latest decision demonstrates MedSource,s commitment to ... by offering a state-of-the-art electronic data capture (EDC) ... the EDC platform of choice in exchange for ... long been a preferred EDC platform by our ...
(Date:6/23/2016)... June 23, 2016  In a startling report released today, ... residents by lacking a comprehensive, proven plan to eliminate prescription opioid ... ranking of how states are tackling the worst drug crisis in ... states – Kentucky , New Mexico ... . Of the 28 failing states, three – ...
(Date:6/23/2016)... , June 23, 2016 Research ... Pharma News Issue 52" report to their offering. ... in influenza treatment creates a favourable commercial environment for MedImmune ... growing patient base that will serve to drive considerable growth ... vaccine would serve to cap sales considerably, but development is ...
Breaking Medicine Technology: