Table of Contents
Overview
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- Issues covered in the Report:
- COVID-19: Market context
- Economic and other assumptions
- Products covered in this Report
- Excluded
Executive Summary
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- Impact of COVID-19 on optical goods
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- Figure 1: Short, medium and long-term impact of COVID-19 on optical goods, January 2021
- The market
- Market size and forecast for optical goods and services
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- Figure 2: Consumer spending on optical goods and services, 2015-25 (prepared on 2 February 2021)
- Sunglasses sector suffers as travel declines
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- Figure 3: Consumer spending on non-prescription sunglasses, 2015-25 (prepared on 2 February 2021)
- Sales of spectacles suffered, but contact lenses saw largest decline
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- Figure 4: Consumer spending on optical goods and services, by category, 2019-20
- Companies and brands
- Specsavers has highest number of shoppers, but use has declined in the last year
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- Figure 5: Key metrics for selected brands, January 2021
- Advertising spend more than halves, highlighting a missed opportunity
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- Figure 6: Leading opticians above-the-line, online display and direct mail advertising expenditure, 2020
- The consumer
- Concerns around COVID-19 have made many uncomfortable trying items on in-store
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- Figure 7: People’s feelings towards trying clothing or footwear on in-store, 10-19 November 2020
- There have been declines in the number of people getting examined
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- Figure 8: Number of people going for eye and hearing examinations in the last two years, 2019-20
- Many go back to the same optician out of habit
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- Figure 9: Reasons for choosing an optician, October 2020
- Eyewear purchasing has declined over the last year
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- Figure 10: Eyewear and hearing aids purchased in the last two years, 2019-20
- Contact lenses are most likely item to be bought online
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- Figure 11: Channels used for purchasing eyewear, October 2020
- Ability to try styles on keeps people going to stores
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- Figure 12: Reasons eyewear was purchased in-store, October 2020
- A third would be interested in being able to try on glasses virtually
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- Figure 13: Eyewear shoppers interested in innovations in the sector, October 2020
- Many are worried about the effect screens have on eyesight
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- Figure 14: Behaviours around protecting eyes from screen use, October 2020
Issues and Insights
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- Opportunities for the spectacles market since COVID-19
- Technology
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- Figure 15: Trying on Cubitts’ ‘Bingfield’ frames with its virtual try-on technology, 2021
- Style
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- Figure 16: Pricing transparency at Bloobloom, 2021
- Sustainability
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- Figure 17: Use of reusable packaging in online shopping, 2020
- Innovations and opportunities in the contact lens market
The Market – Key Takeaways
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- COVID-19 causes disruption to the market
- Spectacles sales decline as people are concerned about finances
- Contact lens market sees big losses as people stay home
- An ageing population is expected to provide future growth
Market Size and Forecast
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- COVID-19 is unlikely to have a long-lasting impact on the sector
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- Figure 18: Short, medium and long-term impact of COVID-19 on the optical goods market, January 2021
- Forced store closures led to a 10% decline in optical goods and services
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- Figure 19: Consumer spending on optical goods and services, 2015-25 (prepared on 2 February 2021)
- Figure 20: Consumer spending on optical goods and services, 2015-20
- Reduction in capacity has made recovery challenging, even with practices open
- The non-discretionary nature of the category will aid recovery
- The sunglasses sector has taken a big hit from COVID-19
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- Figure 21: Consumer spending on non-prescription sunglasses, 2015-25 (prepared on 2 February 2021)
- Figure 22: Consumer spending on optical goods and services, 2015-20
- Market drivers and assumptions
- Learnings from the last recession
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- Figure 23: Consumer spending on optical goods and services, 2007-12
- Forecast methodology
Market Segmentation
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- Spectacles continue to make up the bulk of spending
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- Figure 24: Consumer spending on optical goods and services, 2015-20
- Share of market for contact lenses declines as people stay home
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- Figure 25: Consumer spending on optical goods and services, by category, 2019-20
- COVID-19 restrictions have a negative effect on eye testing…
- …previously the number receiving eye examinations had been growing
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- Figure 26: Number of NHS eye examinations in England, 2015-20
Market Drivers
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- Ageing population could drive future market growth
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- Figure 27: Trends in the age structure of the UK population, 2015 - 25
- Wages dive during lockdown as COVID-19 triggers economic downturn
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- Figure 28: Average weekly earnings, by consumer price index, January 2016-December 2020
- Uncertainty around Brexit likely to lead to further slowdown
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- Figure 29: Economic outlook towards Brexit, January 2021
- Lack of overseas holidays has badly affected sunglasses market
- Increased time on video could help the glasses market
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- Figure 30: Video calling and live streaming, 2-14 July 2020
Companies and Brands – Key Takeaways
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- Specsavers ramps up Sainsbury’s concessions…
- … while Boots Opticians plans store closures
- Advertising spend more than halves, highlighting a missed opportunity
Leading Optical Goods Retailers
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- Specsavers is a market leader
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- Figure 31: Leading optical goods retailers’ net revenues (excluding VAT), 2015-19
- Boots plans to reduce store numbers
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- Figure 32: Leading optical goods retailers’ outlet numbers, 2015-20
- Duncan & Todd moves into Black & Lizars locations
- Bayfields Opticians ramps up expansion plans
- Fashion optical chain Cubitts opens outside London
Launch Activity and Innovation
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- Custom-tailored glasses
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- Figure 33: Virtual appointment from Topology for custom frames, 2020
- Giving old frames a second life
- Eco-friendly eyewear
- Coral eyewear makes use of ocean plastics
- Vinylize turns vinyl records into frames
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- Figure 34: Vinylize’s AC/DC collection, 2020
- Stella McCartney teams up with Thélios for sustainable eyewear collection
- Formula 1 celebrates anniversary with eyewear launch
- Reimagining the in-store optical experience
- Hungry Eyes opens party-inspired boutique
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- Figure 35: Hungry Eyes boutique in Stuttgart, 2020
- Vinylize launches pop-up salon in members-only bar in Budapest
- Online spectacles purchasing and home delivery
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- Figure 36: Specsavers contact lens service, 2020
- Pair for a pair
- Video consultation service
- ‘Smart’ eyewear
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- Figure 36: AYO light therapy glasses, 2021
Advertising and Marketing Activity
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- Significant fall in advertising spend following outbreak of COVID-19
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- Figure 37: Total above-the-line, online display and direct mail advertising expenditure by UK opticians, 2016-20
- Five retail brands account for 96% of sector advertising spend
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- Figure 38: Leading opticians above-the-line, online display and direct mail advertising expenditure, 2020
- Specsavers highlight colleague’s efforts during COVID-19 lockdown
- Vision Express appoint new lead agency
- Boots focus on stylish own-brand glasses
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- Figure 39: Leading opticians above-the-line, online display and direct mail advertising expenditure, 2016-20
- TV advertising spend up, direct mail expenditure significantly down
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- Figure 40: Total above-the-line, online display and direct mail advertising expenditure by UK opticians, by media type, 2020
- Nielsen Ad Intel coverage
Brand Research
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- Brand map
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- Figure 41: Attitudes towards and usage of selected brands, January 2021
- Key brand metrics
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- Figure 42: Key metrics for selected brands, January 2021
- Brand attitudes: Specsavers offers good value
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- Figure 43: Attitudes, by brand, January 2021
- Brand personality: Boots Opticians accessible and ethically-minded
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- Figure 44: Brand personality – Macro image, January 2021
- Sunglass Hut stylish, David Clulow aspirational
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- Figure 45: Brand personality – Micro image, January 2021
- Brand analysis
- Specsavers near universal brand awareness and highest brand usage
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- Figure 46: User profile of Specsavers, January 2021
- Sunglass Hut fun and stylish, but expensive
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- Figure 47: User profile of Sunglass Hut, January 2021
- Vision Express welcoming and inexpensive
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- Figure 48: User profile of Vision Express, January 2021
- Boots Opticians trustworthy and reliable, but lacks style and desirability
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- Figure 49: User profile of Boots Opticians, January 2021
- David Clulow authoritative and an excellent customer experience
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- Figure 50: User profile of David Clulow, January 2021
The Consumer – Key Takeaways
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- Declines in travel have been damaging for the sunglasses market
- There are opportunities to increase the appeal of contact lenses
- Revamping the in-store experience grows in importance
Impact of COVID-19 on Consumer Behaviour
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- Majority are worried about exposure to COVID-19…
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- Figure 51: People worried about their exposure to COVID-19, 20 March 2020-12 February 2021
- …leading to concerns around trying items on in-store
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- Figure 52: People’s feelings towards trying clothing or footwear on in-store, 10-19 November 2020
- Financial uncertainty means many are putting off major purchases
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- Figure 53: Financial changes happening in households since COVID-19, 4-12 february 2021
- A third don’t intend to book a holiday in 2021…
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- Figure 54: Holiday booking intentions for 2021, 21-26 January 2021
- …and two in five expect to holiday in the UK
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- Figure 55: Holiday destinations in 2021, 21-26 January 2021
Eye and Hearing Tests
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- Decline in the number of people getting examined
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- Figure 56: Number of people going for eye and hearing examinations in the last two years, 2019-20
- Older age groups are most likely to go for an eye test
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- Figure 57: Number of people going for eye and hearing examinations in the last two years, by age group, October 2020
Reasons for Choosing an Optician
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- Over two in three want familiarity
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- Figure 58: Reasons for choosing an optician, October 2020
- Younger shoppers are interested in recommendations and style
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- Figure 59: Reasons for choosing an optician, by age group, October 2020
Purchasing of Eyewear
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- Purchasing has declined over the last year
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- Figure 60: Eyewear and hearing aids purchased in the last two years, 2019-20
- Nearly half bought into just one category
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- Figure 61: Eyewear purchases made, October 2020
Retailers and Channels Used
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- Contact lenses are most likely item to be bought online
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- Figure 62: Channels used for purchasing eyewear, October 2020
- Most buy fashion sunglasses from clothing retailers
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- Figure 63: Types of retailers used for sunglasses, October 2020
Reasons for Channel Used
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- Price is the top reason people used online
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- Figure 64: Reasons eyewear was purchased online, October 2020
- Ability to try styles on keeps people going to stores
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- Figure 65: Reasons eyewear was purchased in-store, October 2020
- Older shoppers want specialist advice
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- Figure 66: Eyewear shoppers who like in-store specialist advice, October 2020
Interest in Eyewear Innovations
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- A third would be interested in being able to try on glasses virtually
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- Figure 67: Eyewear shoppers interested in innovations in the sector, October 2020
- Men are interested in the concept of remote sight tests
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- Figure 68: Eyewear shoppers interested in innovations in the sector, by gender, October 2020
Behaviour towards Eyewear
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- Buying glasses tends to be out of necessity
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- Figure 69: Behaviour towards purchasing at opticians, October 2020
- Since COVID-19 people are more likely to shop local
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- Figure 70: Behaviour towards opticians during COVID-19, October 2020
- Many are worried about the effect screens have on eyesight…
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- Figure 71: Behaviours around protecting eyes from screen use, October 2020
- ...particularly among those who have likely been working from home
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- Figure 72: Optical Goods Retailing – CHAID – October 2020
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- Figure 73: Optical Goods Retailing – CHAID – Table output, October 2020
- Methodology
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
- Optical goods and services forecast
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- Figure 74: Consumer spending on optical goods and services, 2015-25
- Figure 75: Forecast consumer spending on optical goods and services, 2015-25
- Non-prescription sunglasses forecast
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- Figure 76: Consumer spending on non-prescription sunglasses, 2015-25
- Figure 77: Forecast consumer spending on non-prescription sunglasses, 2015-25
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