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Online Eyeglasses and Contact Lens Sales in Australia Industry Market Research Report Now Updated by IBISWorld
Date:11/12/2013

Melbourne, Australia (PRWEB) November 13, 2013

The Online Eyeglasses and Contact Lens Sales industry in Australia has benefited from operating in a rapidly growing retail space. The internet's ability to provide a plethora of choices at varying price points has led consumers to migrate online en masse in their quest for a bargain. According to IBISWorld industry analyst Arna Richardson, "online eyeglasses retailers have reaped the rewards of having low operating cost structures and have been able to aggressively discount their products compared with their bricks-and-mortar counterparts, which are faced with high labour and utility costs." Australia's ageing population, while boding well for eyeglasses sales in general, account for only a small portion of online sales due to their lack of technological prowess and comfort with transacting electronically. Retailers have attempted to address this issue by improving their websites to include higher levels of interactivity, such as virtual fitting rooms and other customisation options. In the five years through 2013-14, industry revenue is estimated to increase by an annualised 7.7% to total $71.0 million. In 2013-14, revenue is expected to increase by 7.3%.

The future of the industry looks promising, with increasing demand, greater internet access and new customer segments. The continued growth in the online retail sector will drive new consumers to explore the online space and electronic commerce will become a mainstay of Australian consumerism. Improved functionality on websites will particularly benefit eyeglass retailers, as greater interactivity reduces any fears of purchasing frames and lenses prior to physically trying them on. "Retailers are al
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