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Online Eyeglasses and Contact Lens Sales in the US Industry Market Research Report Now Available from IBISWorld
Date:8/25/2013

Los Angeles, CA (PRWEB) August 25, 2013

In 2003, Congress passed the Fairness to Contact Lens Consumers Act, which allowed consumers to purchase contact lenses separate from eye exams. According to IBISWorld Industry analyst Nikoleta Panteva, “since then, the Online Eyeglasses and Contact Lens Sales industry has experienced rapid growth”. Supported by a rising number of households with broadband access and the development of secure payment methods, consumers increasingly spend their money online, including on eyeglasses and contact lenses. Furthermore, consumer demand for convenient at-home shopping and affordable online eyeglasses and contact lenses has also driven up industry demand. To this end, IBISWorld estimates that revenue will increase at an average annual rate of 8.1% to $7.8 billion in the five years to 2013, with a 9.4% jump in 2013. During the recession, consumers out off discretionary eyewear purchases, opting instead for lower priced necessities. Since then, consumer discretionary spending has picked up, supporting revenue growth.

Over the five years to 2018, the industry will continue to grow. The economic recovery will drive industry demand, since it will allow consumers to upgrade their prescriptions and buy corrective lenses. Expenditure on high-end luxury eyewear is also expected to resume as consumers regain confidence. “However, the industry will continue to face challenges from internal and external competition, and a move to collect sales tax for online retailers will threaten growth”, says Panteva.

The

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