Table of Contents
Overview
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- What you need to know
- Products covered in this Report
- Excluded
Executive Summary
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- The market
- Optical goods and eyecare spending up 3.4% in 2018
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- Figure 1: Market for optical goods and eyecare, 2013-23
- Figure 2: Consumer spending on optical goods and services, by category, 2018 (est)
- Innovation has helped to add value
- The ageing population is helping to create growth in demand
- Sunglasses market up 3.4% in 2018
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- Figure 3: Market for non-prescription sunglasses, 2013-23
- Companies and brands
- Market share gains for Specsavers and Vision Express
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- Figure 4: Distribution of optical goods and services, by retailer, 2017 and 2018 (est)
- Other growth retailers
- Frame styling and virtual try-on
- Online pureplays capture around 10% of contact lenses but less than 5% of prescription glasses
- The consumer
- Specsavers has high levels of trust and usage
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- Figure 5: Attitudes towards and usage of selected brands, December 2018
- Almost half of adults had an eye test in 2018
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- Figure 6: Usage of eye and hearing services in the last 12 months, November 2017 and December 2018
- Hearing tests show a bias towards over-65s
- Glasses are the most popular type of eyewear
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- Figure 7: Wearers of prescription glasses, contact lenses and sunglasses, December 2018
- A third of glasses wearers bought in the last year
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- Figure 8: Purchases of eyewear and hearing aids in the last 12 months, December 2018
- Specsavers captures 45% of purchasers
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- Figure 9: Retailers used for prescription eyewear, December 2018
- Clothing retailers popular for fashion sunglasses
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- Figure 10: Retailers used for fashion eyewear, December 2018
- Low prices and special offers capture attention
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- Figure 11: Factors influencing choice of optician, December 2018
- Awareness of healthcare will keep people returning to opticians
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- Figure 12: Attitudes regarding opticians and eyewear, December 2018
- Self-testing for eyes appeals to younger adults
- 54% don’t think contact lenses are suitable for everyone
- Shoppers know that they could save by shopping online
- Style is more important than price
- What we think
Issues and Insights
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- What are the implications of opticians moving into supermarkets?
- The facts
- The implications
- Is falling footfall in town centres affecting opticians?
- The facts
- The implications
- Is online taking a greater market share of optical goods?
- The facts
- The implications
The Market – What You Need to Know
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- Consumers spend £3,242 million on optical goods and eyecare
- Population growth will increase demand
- Market for sunglasses shows steady growth
- Innovation has helped to add value
- The ageing population is helping to create growth in demand
- The sun shone in 2018
- Consumer confidence fell towards the end of 2018
- Market share gains for Specsavers and Vision Express in 2018
Market Size and Forecast
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- Steady growth for optical goods and services
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- Figure 13: Consumer spending on optical goods and services, 2013-23
- Contact lenses market grew faster than spectacles over 2013-18
- 16% growth forecast for sunglasses between 2018 and 2023
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- Figure 14: Consumer spending on non-prescription sunglasses, 2013-23
- Forecast methodology
Market Segmentation
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- Spectacles are 61% of the market by value
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- Figure 15: Consumer spending on optical goods and services, by category, 2018 (est)
- Optical goods market by category
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- Figure 16: Consumer spending on optical goods and services, 2013-18
- Figure 17: Consumer spending on spectacle frames and lenses, estimates by category, 2013-18
- Innovative lenses help grow the spectacles market
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- Figure 18: Spectacle lens purchases, by type, (numbers) 2018 (est)
- Contact lens market up by 4.3% from 2017-18
- Multifocal contact lenses grow market value
- Toric contact lenses have broadened the market
- Rise of daily-wear lenses means lower demand for solutions
- 25% of contact lens wearers are part-time
- Market dominated by soft contact lenses
- Eye drops growing strongly from a small base
- Eye examination numbers growing gradually
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- Figure 19: Yearly change in number of NHS eye examinations, England and Wales, 2013-17
Channels to Market
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- Three major chains dominate the UK market
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- Figure 20: Distribution of optical goods and services, by retailer, 2017 and 2018 (est)
- Specsavers’ market share grows to 42.1%
- Boots remains a major force
- Vision Express boosts market share through acquiring Tesco Opticians
- Optical Express concentrates on laser surgery
- All change for supermarket opticians
- Sunglasses concessions and in-store opticians open in department stores
- Key developments in online selling
- Contact lenses online
- Essilor takes a major position in digital selling
- Some 20% of fashion sunglasses are bought online
- Is Amazon a threat?
Market Drivers
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- Ageing population drives growth
- Growth in the teenage market
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- Figure 21: Trends in the age structure of the UK population, 2018-23
- Consumers remain confident about their finances
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- Figure 22: Trends in how respondents would describe their financial situation, January 2017-November 2018
- Summer 2018 was sunnier than average
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- Figure 23: Sunshine hours, by season, 2014-18
- Overseas travel helps build sunglasses sales
Companies and Brands – What You Need to Know
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- Optical goods chains are growing via acquisition
- Specsavers expands into healthcare
- Online presence for opticians serves a wide span of purposes
- Disruptive strategies from smaller players
- Specsavers reaches 800 outlets
- Other growth retailers
- Frame styling and virtual try-on
Leading Specialists
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- Specsavers is by far the largest group
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- Figure 24: Leading optical goods retailers’ net revenues (excluding VAT), 2013-17
- Tesco acquisition boosts Vision Express’ store numbers
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- Figure 25: Leading optical goods retailers’ outlet numbers, 2014-18
- Other chains
- Hakim has doubled store numbers in two years
- Royston Bayfield aims for 50 outlets
- Valli is up to 14 outlets
- Frith drops a store
- Cross Eyes got out of the UK
- European retailers offering designer quality at accessible prices
Competitive Strategies
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- Why growth via acquisition is the most profitable route
- Specsavers expands into healthcare provision
- Online presence for opticians serves a wide span of purposes
- Promotional tactics remain important
- How the key retailers differentiate their brands
- Disruptive strategies from smaller players
Launch Activity and Innovation
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- Frame styling apps
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- Figure 26: Specsavers, virtual try-on technology, 2018
- Ace & Tate expanding in the UK
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- Figure 27: Ace & Tate, comparing the industry with own production, 2019
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- Figure 28: Ace & Tate, local themes for store design, 2019
- Maison Bonnet opens upscale outlet in Mayfair
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- Figure 29: Maison Bonnet, Mayfair, 2019
- Maison Acuitis promises 40 UK outlets
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- Figure 30: Acuitis, UK store, 2018
- Selfridges revamps London eyewear department
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- Figure 31: Selfridges eyewear department, 2018
Advertising and Marketing Activity
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- Gradual reduction in above-the-line advertising
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- Figure 32: Total above-the-line, online display and direct mail advertising expenditure on opticians, 2014-18
- Specsavers and Boots upped spending in 2018
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- Figure 33: Boots, television advert, 2019
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- Figure 34: Breakdown of top five optical goods advertisers’ above-the-line, online display and direct mail advertising expenditure, 2014-18
- Television accounts for 33% of spending
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- Figure 35: Advertising spend by opticians, by media, 2018
- Nielsen Ad Intel coverage
Brand Research
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- Brand map
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- Figure 36: Attitudes towards and usage of selected brands, December 2018
- Key brand metrics
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- Figure 37: Key metrics for selected brands, December 2018
- Clulow commands a premium
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- Figure 38: Attitudes, by brand, December 2018
- Specsavers stands out as a fun brand
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- Figure 39: Brand personality – Macro image, December 2018
- Specsavers is authoritative
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- Figure 40: Brand personality – Micro image, December 2018
- Brand analysis
- Specsavers is an outstanding brand, with broad appeal
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- Figure 41: User profile of Specsavers, December 2018
- Boots has a strong overall image
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- Figure 42: User profile of Boots Opticians, December 2018
- Asda Opticians captures a broad range of customers
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- Figure 43: User profile of Asda Opticians, December 2018
- Vision Express appeals to affluent customers
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- Figure 44: User profile of Vision Express, December 2018
- David Clulow appeals to wealthy young adults
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- Figure 45: User profile of David Clulow, December 2018
The Consumer – What You Need to Know
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- 48% had an eye test in the last year
- Six in 10 wear glasses
- Specsavers captures 45% of purchasers
- Independents popular with over-65s while online shoppers are young
- Fashion retailers popular for sunglasses
- Variety of factors influence choice of optician
- Online services are important
- Awareness of healthcare will keep people returning to opticians
- Potential to encourage people to try contact lenses
- Attitudes towards buying glasses online
- 16-34s will pay extra for brands
- People don’t feel bad about shopping around
Eye Tests and Hearing Tests
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- Almost half of adults had an eye test in 2018
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- Figure 46: Usage of eye and hearing services in the last 12 months, November 2017 and December 2018
- Hearing tests show a bias towards over-65s
- Higher percentage have eye tests over age 45
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- Figure 47: Eye tests, hearing tests and laser eye surgery, by age, December 2018
- Those with the healthiest finances more likely to have eye examinations
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- Figure 48: Eye tests in the last 12 months, by financial situation, December 2018
Wearers of Glasses, Contact Lenses and Sunglasses
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- Glasses are the most popular type of eyewear
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- Figure 49: Wearers of prescription glasses, contact lenses and sunglasses, December 2018
- More than two thirds of over-45s use prescription eyewear
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- Figure 50: Wearers of any prescription eyewear, by age, December 2018
- 42% wear one type of eyewear
Purchases in the Last 12 Months
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- A third of glasses wearers bought in the last year
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- Figure 51: Purchases of eyewear and hearing aids in the last 12 months, December 2018
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- Figure 52: Purchases of prescription eyewear, by age, December 2018
Retailers Used for Prescription Eyewear
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- Specsavers captures 45% of purchasers
- Independents attract older shoppers
- Internet shoppers are younger and wealthier
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- Figure 53: Retailers used for prescription eyewear, December 2018
Retailers Used for Fashion Eyewear
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- Clothing retailers popular for fashion eyewear
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- Figure 54: Retailers used for fashion eyewear, December 2018
Factors Influencing Choice of Opticians
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- Low prices and special offers capture attention
- Well-equipped test rooms
- Reminders are a call to action
- Online services are important
- Designer brands attract younger shoppers
- Styling technology
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- Figure 55: Factors influencing choice of opticians, December 2018
Attitudes Regarding Opticians and Eyewear
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- Attitudes towards eye tests
- Self-testing for eyes appeals to younger adults
- Strong health associations
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- Figure 56: Attitudes regarding opticians and eyewear, December 2018
- Attitudes regarding contact lenses and laser surgery
- 54% don’t think contact lenses are suitable for everyone
- 16-34s show an interest in laser
- Contact lenses have a ‘fiddly’ image
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- Figure 57: Attitudes regarding opticians and eyewear, contact lenses, December 2018
- Attitudes towards buying glasses online
- Younger shoppers most likely to rate glasses bought online
- 25-34s understand that online shopping could save money
- 80% feel it is important to have glasses fitted professionally
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- Figure 58: Attitudes regarding opticians and eyewear, online shopping for glasses, December 2018
- Attitudes towards brands, style and shopping around
- Younger shoppers will pay more for brands
- Style matters more than price
- It is OK to shop around
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- Figure 59: Attitudes regarding opticians and eyewear, price, brand and shopping around, December 2018
Appendix – Data Sources, Abbreviations and Supporting Information
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- Abbreviations
- Consumer research methodology
Appendix – Market Size and Forecast
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- Forecast methodology
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