Table of Contents
Executive Summary
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- Growth of 16.4% expected by 2020
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- Figure 1: Consumer spend on optical goods and services, 2010-20
- Market for sunglasses to grow by 16% from 2015-20
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- Figure 2: Consumer spend on non-prescription sunglasses, 2010-20
- Spectacles dominate spending
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- Figure 3: Consumer spend on optical goods and services, by category, 2014-15
- Market factors
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- Figure 4: Changing age structure of the population, 2010-15
- Companies, brands and innovation
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- Figure 5: Distribution of optical goods by retailer, 2015 (est)
- Brand map illustrates customer attitudes to opticians
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- Figure 6: Attitudes towards and usage of selected brands, November 2015
- The consumer
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- Figure 7: Wearers of eyewear, November 2015
- Purchases of fashion eyewear
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- Figure 8: Fashion eyewear purchased in the last twelve months, November 2015
- Glasses dominate the market place
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- Figure 9: Prescription eyewear purchased in the last 12 months, November 2015
- Specsavers is the most-used optician
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- Figure 10: Retailers used for last prescription eyewear purchase, November 2015
- People value professional fitting at an optician
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- Figure 11: Attitudes about optical goods and eye examinations, any agree, November 2015
- High level of interest in added-value eyewear
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- Figure 12: Interest in added value and innovation, November 2015
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- Figure 13: Customer typologies for opticians, November 2015
- What we think
Issues and Insights
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- Can opticians find new ways to grow?
- The facts
- The implications
- What are the prospects for internet retailing in eyewear?
- The facts
- The implications
- Is there a future for independents?
- The facts
- The implications
The Market – What You Need to Know
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- Consumers spend £2,975 million on optical goods and eyecare
- Population growth will increase demand
- Market for sunglasses continues to grow
- Innovation has helped to add value
- Older customers will create more demand for services
- More 25-34s boost demand for contact lenses
- Improved consumer confidence
- Market share gains
Market Size and Forecast
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- Growth of 16.6% from 2015-20
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- Figure 14: Consumer spend on optical goods and services, 2010-20
- Figure 15: Consumer spend on optical goods and services, 2010-20
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- Figure 16: Consumer spend on non-prescription sunglasses, 2010-20
- Figure 17: Consumer spend on non-prescription sunglasses, 2010-20
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- Figure 18: Consumer spend on non-prescription sunglasses, 2011-15
- Market segmentation
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- Figure 19: Consumer spending on optical goods and eyecare, by segment, 2010-15
- Sunglasses show steady growth
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- Figure 20: Consumer spend on non-prescription sunglasses, 2011-15
- Laser vision correction
Market Drivers
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- Growth of 55+ age group - 20.8 million by 2020
- Growing demand for eye examinations
- 9.9% more children aged 5-14 by 2020
- 9.4 million 25-34s by 2020
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- Figure 21: Trends in the age structure of the UK population, 2010-20
- Greater consumer confidence
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- Figure 22: Trends in current financial situation compared to a year ago, measured at November, 2011-15
- High proportion of the population uses screens
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- Figure 23: Personal ownership of consumer technology products, September 2015
- Sunshine helps sales of sunglasses
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- Figure 24: Sunshine hours, UK annual, 2011-15
Channels of Distribution
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- Unusual retail sector dominated by specialists
- Boots and Vision Express gaining ground
- Optical Express is concentrating on laser
- Supermarkets on the rise
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- Figure 25: Distribution of optical goods by retailer, 2014 and 2015 (est)
Key Retailers – What You Need to Know
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- Limited potential for more Specsavers stores in the UK
- Boots growing once again
- Vision Express acquisitions boost store numbers
- Clear differentiation for the big chains
- Joint venture partnerships
- Online sellers
- Supermarket expansion
- Independents in long-term decline
Key Retailers – Competitive Strategies
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- Sales growth of optical chains
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- Figure 26: Turnover (excluding vat), selected optical goods retailers, 2011-15
- Expansion of the chains
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- Figure 27: Opticians multiples, outlet numbers, 2013-15
- Creating differentiation
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- Figure 28: Market positioning strategies, major opticians, 2016
- Business models
- Franchises, joint venture and non-core products
- Alternative places to buy optical goods
- Online selling
- The march of the supermarkets
- 4,500 independents
- John Lewis opening in-store opticians
Advertising and Marketing Activity
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- Advertising spend up 45% 2012-15
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- Figure 29: Above-the-line advertising expenditure on optical goods and eyecare, by company, 2012-15
- Specsavers dominates advertising spend
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- Figure 30: Above-the-line advertising expenditure on optical goods and eyecare, by company, 2015
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- Figure 31: Above-the-line advertising expenditure on optical goods and eyecare, by company, 2012-15
- A note on adspend
Brand Research – Optical Goods and Sunglasses
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- What you need to know
- Specsavers and Boots ahead on trust
- Vision Express is upscale
- Over-55s want accessible and trustworthy opticians
- Tesco and Asda are value but basic
- Brand map
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- Figure 32: Attitudes towards and usage of selected brands, November 2015
- Key brand metrics
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- Figure 33: Key metrics for selected opticians brands, November 2015
- Brand attitudes: Vision Express and Boots positioned as reputable with great service, while Specsavers is innovative
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- Figure 34: Attitudes, by brand, November 2015
- Brand personality: Specsavers is vibrant and fun, Boots engaging and Vision Express exclusive
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- Figure 35: Brand personality – Macro image, November 2015
- Specsavers is trendsetting and stylish, Boots reliable and authoritative, but Vision Express overrated and expensive. Asda is basic and disappointing.
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- Figure 36: Brand personality – Micro image, November 2015
- Brand analysis
- Specsavers’ upbeat image, style and fun personality along with trust and value attract a wide range of customers
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- Figure 37: User profile of Specsavers, November 2015
- Boots Opticians is reputable, trusted and has good service
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- Figure 38: User profile of Boots Opticians, November 2015
- Asda’s image is the weakest, although Asda chimes with 16-24s who see it as fun
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- Figure 39: User profile of Asda Opticians, November 2015
- Tesco Opticians gains from being accessible
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- Figure 40: User profile of Tesco Opticians, November 2015
- Vision Express is exclusive and accessible, yet considered expensive and overrated
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- Figure 41: User profile of Vision Express, November 2015
- Brand analysis
Key Suppliers – What You Need to Know
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- Multinational companies dominate supplies
- Luxottica is the fastest growing supplier
- Fabris Lane is the leading mid-market supplier of sunglasses
- Innovative products could change the market
Key Suppliers to Opticians
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- Future disruption for spectacle suppliers?
- Sourcing shifting from China
- Smart glasses
- Leading spectacle frame suppliers
- Specialist spectacle lens suppliers
- Suppliers of contact lenses and contact lens solutions
Launch Activity and Innovation
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- 3D printing could revolutionise the market
- Online sales expected to grow
- Superdrug enters the online market
- Self-testing instead of an opticians visit
- Smart glasses with prescription lenses
- Bespoke could lead to eyewear wardrobes
- Screening school children
The Consumer – What You Need to Know
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- Older and wealthier more likely to have eye exams
- Glasses are the most-used eyewear
- Fashion sunglasses most-bought by under 44s
- Specsavers has the broadest appeal
- Ageing customer base for indies
- Combination of expertise and style
- High Street Devotees want better functionality
- Style Seekers will respond to innovative products
- Thrifty shoppers motivated by making savings
- Demanding loyalists favour independents
Eye Examinations in the Last Year
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- 58% had an eye test in the last year
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- Figure 42: Eye examinations in the last 12 months, November 2014 and November 2015
- Older people more likely to have had an eye test
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- Figure 43: Eye examinations in the last 12 months, by age and socio-economic group, November 2015
- Better off people more inclined to have eye tests
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- Figure 44: Eye examinations in the last 12 months, by financial situation, November 2015
Wearers of Eyewear
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- Two thirds wear glasses
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- Figure 45: Wearers of eyewear, November 2015
- More use of glasses as people age
- Young profile for contact lens wearers
- Ask suitable lifestyle questions
- Multifocal lenses for complex prescriptions
- Building a contact lens business
- Add-on sales potential for eye drops
- Sunglasses, a useful add-on
- Non-prescription sunglasses have a younger bias
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- Figure 46: Wearers of eyewear by age and socio-economic group, November 2015
Eyewear Purchases – Fashion Eyewear
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- Figure 47: Fashion eyewear purchased in the last twelve months, November 2015
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Eyewear Purchases – Prescription Eyewear
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- High replacement rate for glasses
- Low cost of ready-readers
- How opticians hang onto contact lens customers
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- Figure 48: Prescription eyewear purchased in the last 12 months, November 2015
Retailers Used for Last Prescription Eyewear Purchase
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- Vision Express appeals to ABs
- Specsavers had broad appeal
- Boots slightly older and a little upscale
- Ageing customer base for independents
- Internet picks up 5% of shoppers
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- Figure 49: Retailers used for last prescription eyewear purchase, November 2015
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- Figure 50: Source of purchase of optical goods, November 2015
Attitudes towards Optical Goods and Eye Examinations
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- Figure 51: Attitudes about optical goods and eye examinations, any agree, November 2015
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Interest in Added Value and Innovation
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- Figure 52: Interest in added value and innovation, November 2015
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Consumer Typology Groups
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- Figure 53: Customer typologies for opticians, November 2015
- High Street Devotees (26%)
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- Figure 54: Attitudes towards opticians, High Street Devotees, November 2015
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- Figure 55: Attitudes towards innovation, High Street Devotees, November 2015
- Style Seekers (27%)
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- Figure 56: Attitudes towards opticians, Style Seekers, November 2015
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- Figure 57: Attitudes towards innovation, Style Seekers, November 2015
- Thrifty Shoppers (23%)
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- Figure 58: Attitudes towards opticians, Thrifty Shoppers, November 2015
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- Figure 59: Attitudes towards innovation, Thrifty Shoppers, November 2015
- Demanding Loyalists (24%)
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- Figure 60: Attitudes towards opticians, Demanding Loyalists, November 2015
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- Figure 61: Attitudes towards innovation, Demanding Loyalists, November 2015
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Appendix – Data Sources, Abbreviations and Supporting Information
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- Market sizing and segment performance
- Fan chart forecast
- Abbreviations
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