Table of Contents
Executive Summary
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- The market
- Steady market growth
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- Figure 1: Consumer spend on optical goods and services, 2014-24
- Sunglasses are a fashion item
- Spectacles account for more than 60% of spend
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- Figure 2: Consumer spend on optical goods and services, by category, 2019 (est)
- Companies and brands
- Big three opticians capture 71% of spend
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- Figure 3: Opticians retailers, market share, 2019 (est)
- Specsavers has opened its 900th store
- Tesco acquisition boosts Vision Express’ store numbers
- Hakim has doubled store numbers in two years
- Other opticians with ambition for growth
- Virtual try-on will boost internet sales
- New look for Boots Opticians
- Photochromic contact lenses
- Future product developments
- Specsavers and Boots brands enjoy high levels of trust
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- Figure 4: Attitudes towards and usage of selected brands, December 2019
- The consumer
- 71% had eye tests in the last two years
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- Figure 5: Eye tests, contact lens appointments and hearing tests in the last two years, December 2019
- 9% have had laser eyesight correction
- 35% wear, or have ever worn, contact lenses
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- Figure 6: Experience of wearing contact lenses, December 2019
- Discomfort is the key reason for opting out of contact lenses
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- Figure 7: Reasons for stopping wearing contact lenses, December 2019
- High level of purchasing activity
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- Figure 8: Eyewear and hearing aids purchased in the last two years, December 2019
- Specsavers is the most used optician
- Independents appeal to over-55s
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- Figure 9: Retailers used for glasses and prescription sunglasses bought in the last two years, December 2019
- Specsavers captures 39% of contact lens shoppers
- Internet specialists popular for contact lenses
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- Figure 10: Retailers used for contact lenses bought in the last two years, December 2019
- Multi-layered choice process
- Over-65s aware of healthcare
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- Figure 11: Factors influencing choice of opticians, December 2019
- Healthcare plays an important role
- Personal service is a key feature
- Internet savings can be a draw
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- Figure 12: Attitudes towards opticians, December 2019
- What we think
Issues and Insights
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- Online selling is building momentum
- The facts
- The implications
- New wave of opticians with personality and a DTC model
- The facts
- The implications
- What is the relevance of supermarkets in optics?
- The facts
- The implications
The Market – What You Need to Know
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- Ageing population fuels market growth
- 12% growth forecast for sunglasses between 2019 and 2024
- Glasses account for 61% of spend
- Innovation has added value
- Three major chains dominate the UK opticians sector
- Internet specialists growing
- Population growth and healthy finances
- 2019 not as sunny as the previous year
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, 2014-24
- 12% growth forecast for sunglasses between 2019 and 2024
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- Figure 14: Consumer spending on non-prescription sunglasses, 2014-24
- Forecast methodology
Market Segmentation
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- Spectacles are the main element of the optical goods market
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- Figure 15: Consumer spending on optical goods and services, by category, 2019 (est)
- Optical goods market by category
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- Figure 16: Consumer spending on optical goods and services, 2014-19
- Innovative lenses help grow the spectacles market
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- Figure 17: Spectacle lens purchases, by type, (numbers) 2019 (est)
- Contact lens market up by 20.5% from 2014-19
- 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 18: Yearly change in number of NHS eye examinations, England and Wales, 2014-18
Channels to Market
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- Three major chains dominate the UK market
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- Figure 19: Distribution of optical goods and services, by retailer, 2018 and 2019 (est)
Market Drivers
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- Ageing population drives growth
- Growth in the teenage market
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- Figure 20: Trends in the age structure of the UK population, 2019-24
- Consumers remain confident about their finances
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- Figure 21: Trends in how respondents would describe their financial situation, January 2018-December 2019
- Sunshine helps to sell sunglasses
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- Figure 22: Sunshine hours, by season, 2014-19
- Overseas travel helps build sunglasses sales
Companies and Brands – What You Need to Know
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- Specsavers has opened its 900th store
- Overseas owners
- Tesco acquisition boosts Vision Express’ store numbers
- Hakim has doubled store numbers in two years
- Other opticians with ambition for growth
- Virtual try-on will boost internet sales
- New look for Boots Opticians
- Photochromic contact lenses
- Future product developments
- Specsavers and Boots brands enjoy high levels of trust
Companies and Brands
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- Specsavers is by far the largest group
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- Figure 23: Leading optical goods retailers’ net revenues (excluding VAT), 2014-18
- Tesco acquisition boosts Vision Express’ store numbers
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- Figure 24: Leading optical goods retailers’ outlet numbers, 2015-19
- Other chains
- Hakim has doubled store numbers in two years
- Royston Bayfield aims for 50 outlets
- Other small chains
- Opticians with ‘fair pricing’
- Key developments in online selling
- Contact lenses online
- Daysoft develops a DTC model
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- Figure 25: Daysoft, 2020
- Essilor takes a major position in digital selling
- Several online sellers of glasses
- Some 20% of fashion sunglasses are bought online
- Amazon is selling online in Germany
Competitive Strategies
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- Slowdown in acquisition activity as the market concentrates
- Why be inside a supermarket?
- Specsavers expands into healthcare provision
- Online presence for opticians serves a wide span of purposes
- How the key retailers differentiate their brands
- Disruptive strategies from smaller players
Launch Activity and Innovation
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- Virtual try-on for spectacles and sunglasses
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- Figure 26: Specsavers, Frame Styler, 2020
- Bespoke eyewear will grow in popularity
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- Figure 27: Tom Davies, Bespoke glasses, 2020
- Boots develops a new look
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- Figure 28: Boots Opticians, revamped Covent Garden store, 2019
- Three examples of opticians ‘re-inventing’ opticians
- Ace & Tate opening its ninth store
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- Figure 29: Ace & Tate, Comparing the industry with own production, 2020
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- Figure 30: Ace & Tate, Glasgow store interior, 2020
- Ollie Quinn offers ‘fair prices’
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- Figure 31: Ollie Quinn, Brighton, 2020
- Bailey Nelson now has two UK stores
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- Figure 32: Bailey Nelson, Old Spitalfields Market, 2020
- A photochromic contact lens
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- Figure 33: Johnson & Johnson, photochromic contact lens, 2020
- More examples of contact lens innovation
- Delivering medication to the eye
- Glucose monitoring without a finger prick
- Print contact lenses at home or in-store
- Zoom in with contact lenses
- Heads-up displays on your contact lenses
- More examples of spectacle innovation
- Glasses that adjust focus automatically
- We are yet to see commercial smart glasses
Advertising and Marketing Activity
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- Steady spending on advertising over 2018-19
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- Figure 34: Total above-the-line, online display and direct mail advertising expenditure on opticians, 2015-19
- Specsavers dominates the advertising landscape
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- Figure 35: Optical goods advertisers’ above-the-line, online display and direct mail advertising expenditure, 2019*
- Specsavers consistently spends more than competitors
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- Figure 36: Top five optical goods advertisers, above-the-line, online display and direct mail advertising expenditure, 2015-19
- Television and direct mail dominate spending
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- Figure 37: Advertising spend by opticians, by media, 2019*
- Nielsen Ad Intel coverage
Brand Research
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- Brand map
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- Figure 38: Attitudes towards and usage of selected brands, December 2019
- Key brand metrics
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- Figure 39: Key metrics for selected brands, December 2019
- Brand attitudes: Asda Opticians value differentiates the brand
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- Figure 40: Attitudes, by brand, December 2019
- Brand personality: Specsavers is fun
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- Figure 41: Brand personality – macro image, December 2019
- Specsavers is reliable and welcoming
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- Figure 42: Brand personality – micro image, December 2019
- Brand analysis
- Specsavers is a true mass-market brand
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- Figure 43: User profile of Specsavers, December 2019
- Vision Express captures higher earners
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- Figure 44: User profile of Vision Express, December 2019
- David Clulow’s customers are wealthy and young
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- Figure 45: User profile of David Clulow, December 2019
- Boots Opticians appeals to an upscale audience
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- Figure 46: User profile of Boots Opticians, December 2019
- Asda Opticians is regarded as basic
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- Figure 47: User profile of Asda Opticians, December 2019
The Consumer – What You Need to Know
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- 71% had an eye test in the last two years
- 13% are regular contact lens wearers
- High level of purchasing activity
- Specsavers is a dominant force for glasses
- 22% of contact lens shoppers bought through online specialists
- Price, quality and convenience influence choice of optician
- People recognise the importance of check-ups
- Opticians have an opportunity to expand the contact lens market
- Spectacles influenced by style and brands
- Loyalty is fragile
Eye Tests, Contact Lens Appointments and Hearing Tests
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- 71% had eye tests in the last two years
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- Figure 48: Eye tests, contact lens appointments and hearing tests in the last two years, December 2019
Laser Vision Correction
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- 9% have had laser eyesight correction
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- Figure 49: Ever had laser surgery to correct vision, by age, December 2019
Contact Lens Wear
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- 35% wear, or have ever worn, contact lenses
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- Figure 50: Experience of wearing contact lenses, December 2019
- Discomfort is the key reason for opting out of contact lenses
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- Figure 51: Reasons for stopping wearing contact lenses, December 2019
Purchases of Eyewear and Hearing Aids
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- High level of purchasing activity
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- Figure 52: Eyewear and hearing aids purchased in the last two years, December 2019
- Older bias towards spectacles shoppers
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- Figure 53: Prescription glasses purchased in the last two years, by age, December 2019
- Younger bias towards contact lens shoppers
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- Figure 54: Prescription contact lenses purchased in the last two years, by age, December 2019
Retailers Used for Glasses and Prescription Sunglasses
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- Specsavers is the most used optician
- Independents appeal to over-55s
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- Figure 55: Retailers used for glasses and prescription sunglasses bought in the last two years, December 2019
Retailers Used for Contact Lenses
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- Specsavers captures 39% of contact lens shoppers
- Internet specialists popular for contact lenses
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- Figure 56: Retailers used for contact lenses bought in the last two years, December 2019
Factors Influencing Choice of Opticians
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- Multi-layered choice process
- Convenience is key
- Over-65s aware of healthcare
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- Figure 57: Factors influencing choice of opticians, December 2019
Attitudes towards Opticians
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- People recognise the importance of check-ups
- Opticians have an opportunity to expand the contact lens market
- Brands carry a premium
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- Figure 58: Attitudes towards opticians, contact lenses, December 2019
- Style adds value in the market for spectacles
- Brands matter more to male shoppers
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- Figure 59: Attitudes towards opticians, glasses style and brand, December 2019
- The value of personal fitting
- Independents have a strong image for healthcare
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- Figure 60: Attitudes towards opticians, fitting and independents, December 2019
- Loyalty is a thing of the past
- Competing with internet sellers
- Young adults like the idea of self-testing eyes
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- Figure 61: Attitudes towards opticians, internet retailing, December 2019
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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