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Optical Goods Retailing - UK - February 2013

INTRODUCTION
Definition
Excluded
Abbreviations
EXECUTIVE SUMMARY
The market
Figure 1: Consumer spend on optical goods and services, 2007-17
Figure 2: Consumer spend on optical goods, by segment, 2012
Market factors
Figure 3: Wearers of glasses, by age and socio-economic group, 2012
Figure 4: Wearers of contact lenses and those who have had laser surgery, by age and socio-economic group, 2012
Companies, brands and innovation
Retail distribution
Figure 5: Retail distribution of optical goods, 2012 (est)
The consumer
Figure 6: What people use to correct their vision, glasses by type of lens, December 2012
Figure 7: What people use to correct their vision, contact lenses by modality, December 2012
Figure 8: Last had eye test, December 2012
Figure 9: Last purchased glasses, December 2012
Figure 10: Last had a contact lens appointment and bought new prescription contact lenses, December 2012
Figure 11: Opticians used for glasses or contact lenses, December 2012
Figure 12: Consumer attitudes towards optical goods, December 2012
Figure 13: Target groups, December 2012
What we think
ISSUES IN THE MARKET
Is the ‘special offer’ culture here to stay?
What impact will online shopping have on conventional opticians?
How influential is style in driving demand for spectacles?
Will people buy their glasses from a supermarket opticians?
Is laser eyesight correction a threat to mainstream opticians?
TREND APPLICATION
Trend: The Suite Life
Trend: Agelessness
2015 trend: Old Gold
INTERNAL MARKET ENVIRONMENT
Key points
Glasses and contact lens wearers
Figure 14: Wearers of glasses, contact lenses and those who have laser surgery, 2008-12
How spectacle wearing varies by age group
Figure 15: Wearers of glasses, by age and socio-economic group, 2012
Figure 16: Wearers of contact lenses and those who have had laser surgery, by age and socio-economic group, 2012
Who wears designer frames?
Figure 17: Wear designer branded frames, 2009-12
Importance of fashion
Figure 18: Consumer attitudes towards personal appearance, 2008-12
BROADER MARKET ENVIRONMENT
Key points
Ageing population positive for sales of optical goods
Figure 19: Trends in the age structure of the UK population, 2007-17
The socio-economic profile is shifting
Figure 20: Forecast adult population trends, by socio-economic group, 2007-17
Internet penetration reaches three quarters of adults
Figure 21: Broadband penetration, 2008-12
Slight downturn in number of drivers
Figure 22: Number of drivers and average mileage driven per year, 2008-12
Screen-based activity increases
Figure 23: Use of the internet, televisions and mobile phones, 2010-12
Hobbies and pursuits
Figure 24: Hobbies and interests, 2009-12
Trends in reading
Figure 25: Trends in reading, 2011 and 2012
TRADE ASSOCIATIONS AND INDUSTRY BODIES
Association of British Dispensing Opticians
General Optical Council
Association of Optometrists
Federation of Ophthalmic and Dispensing Opticians
The Eyecare Trust
Association of Contact Lens Manufacturers
Optical Confederation
NHS funding for Scotland
NHS funding for Wales
Other legislative developments
COMPETITIVE CONTEXT
Key points
Figure 26: Retail sales in the UK, by broad sector, 2008-12
Figure 27: Consumer spending on optical goods expressed as a percentage of all non-food retailers and of other specialist non-food retailers, 2008-12
Annual growth patterns in retailing
Figure 28: Annual growth of retail sales in the UK, by broad sector, 2008-12
What’s happening online?
Figure 29: Internet sales as a percentage of all retailing, December 2006-December 2012
Major out of town shopping developments
Laser eyesight correction
Ready readers
STRENGTHS AND WEAKNESSES
Strengths
Weaknesses
WHO’S INNOVATING?
Key points
In-store initiatives
…Hoya’s iPad-based measuring system
Figure 30: Hoya’s iPad-based measuring system, Spring 2013
… Allders updates its image
Figure 31: Revamped Allders Opticians Outlet, Summer 2012
Contact lens innovations
… reshaping the eye
… diabetic monitoring through contact lenses
… new multifocal contact lenses
Innovative spectacles
… sustainability
Spectacle lens developments
Lens mail
Online developments
Fashion trends
MARKET SIZE AND FORECAST
Key points
The optical goods market
Figure 32: Consumer spending on optical goods and services, 2008-12
Figure 33: Consumer spending on optical goods and services, 2007-17
Forecast
Figure 34: Consumer spend on optical goods and services, 2007-17
Consumer spending by segment
Figure 35: Consumer spending on optical goods, by segment, 2008-12
Specs suffer in tough economic conditions
Contact lenses continue to perform
Lens solutions suffer a decrease
Eye exams rising
Innovation helps eye care markets
COMPANIES AND PRODUCTS
Spectacle frames
Luxottica
Figure 36: Financial performance of the Luxottica Group, 2010 and 2011
Figure 37: Luxottica brands
Safilo Group
Figure 38: Financial performance Safilo Group, 2010 and 2011
Figure 39: Safilo Group’s brands
Marchon Eyewear, Inc.
Figure 40: Financial performance Marchon UK Ltd, 2010 and 2011
Figure 41: Marchon Brands
De Rigo
Figure 42: Financial performance De Rigo UK Ltd, 20010 and 2011
Figure 43: De Rigo’s Brands
Other spectacle frame suppliers
Brulimar Optical Group
Charmant
Continental Eyewear
Dunelm Optical
Inspecs
The Norville Group
Silhouette
Viva Eyewear
Spectacle lens suppliers
BBGR
Carl Zeiss Vision
Essilor
Nikon Optical UK
Rodenstock
Seiko Optical UK
Signet Armorlite Europe
Contact lens and solution suppliers
Alcon/Ciba Vision
Bausch & Lomb
CooperVision
Johnson & Johnson Vision Care
Sauflon
Eye care providers
ADVERTISING AND PROMOTION
Key points
Advertising spend falls
Figure 44: Topline adspend on optical goods, laser surgery and eye care, 2008-12
Figure 45: Topline adspend on optical goods, laser surgery and eye care, 2008-12
The sector’s largest advertisers
Figure 46: Above-the-line advertising expenditure on optical goods, laser surgery and eye care, by company, 2008-12
Figure 47: Above-the-line advertising expenditure on optical goods, laser surgery and eye care, by company, 2011
Figure 48: Above-the-line advertising expenditure on optical goods, laser surgery and eye care, by company, 2008-12
Advertising spend by media type
Figure 49: Topline adspend on optical goods, laser surgery, and eye care, by media type, 2008-12
Figure 50: Topline ad spend on optical goods, laser surgery, and eye care, by media type, 2008-12
Advertising spend by product category
Figure 51: Topline ad spend on optical goods, laser surgery, and eye care, by product category, 2008-12
Figure 52: Topline ad spend on optical goods, laser surgery, and eye care, by product category, 2008-12
Health and safety campaigns
Marketing campaigns
Specsavers uses celebrities and humour
Vision Express raises awareness of free eye exams for kids
Advertising standards rulings
CHANNELS TO MARKET
Key points
Retail distribution
Figure 53: Retail distribution of optical goods and eye care, by value, 2008 and 2011
The big four own two thirds of the market
Share slides for Boots/D&A as the company consolidates
Vision Express gains ground
Optical Express
Independents
Internet sellers
Supermarkets
 RETAILER PROFILES
Boots Opticians
Figure 54: Boots Opticians financial performance and store numbers, 2011 and 2012.
Optical Express
Figure 55: DCM Optical Holdings Limited, UK financial performance and store numbers, 2010 and 2011
Specsavers
Figure 56: Specsavers, UK financial performance and store numbers, 2010-11
Vision Express
Regional and independent chains
Supermarkets
Figure 57: Mee healthcare outlet at Sainsbury’s, 2012
Internet specialists
 ONLINE ACTIVITY
Figure 58: Unique online visitors (000s) in August 2012
THE CONSUMER – WHAT PEOPLE USE TO CORRECT THEIR VISION
Key points
Spectacle wearers outnumber contact lens wearers
Figure 59: What people use to correct their vision, December 2012
Profiling spectacle wearers
Figure 60: What people use to correct their vision, spectacles by type of prescription, December 2012
Profiling contact lens wearers
Figure 61: What people use to correct their vision, contact lenses by modality, December 2012
Laser eye surgery
Repertoire of optical goods used
Figure 62: Repertoire of what people use to correct their vision, December 2012
Figure 63: Repertoire of things people use to correct their vision, by product used, December 2012
Figure 64: Repertoire of things people use to correct their vision, by product used, December 2012 (continued)
THE CONSUMER– RECENT EYE TESTS AND PURCHASES
Key points
When was the last eye test?
Figure 65: Last had eye test, December 2012
Figure 66: Timing of the last eye test, by age, December 2012
When people last bought glasses
Figure 67: Last purchased glasses, December 2012
When people last bought contact lenses
Figure 68: Last had a contact lens appointment and bought new prescription contact lenses, December 2012
When people last bought glasses and contact lenses
Figure 69: Last purchased glasses and contact lenses, December 2012
How products used affects attendance for eye tests
Figure 70: Last had eye test, by products used to correct vision, December 2012
Figure 71: Last had eye test, by products used to correct vision, December 2012 (continued)
Figure 72: Last purchased glasses, by most popular what people use to correct their vision, December 2012
Figure 73: Last purchased glasses, by most popular what people use to correct their vision, December 2012 (continued)
Contact lens appointments and purchases
Figure 74: Last had a contact lens appointment, by what people use to correct their vision, December 2012
Figure 75: Last purchased contact lenses, by what people use to correct their vision, December 2012
THE CONSUMER – WHERE THEY PURCHASED OPTICAL GOODS
Key points
Figure 76: Outlets where bought prescription glasses or contact lenses in the last 12 months, December 2012
Specsavers dominates
Figure 77: Outlets where bought prescription glasses in the last 12 months, Specsavers, by age and socio-economic group, December 2012
How shopper profiles of other opticians vary
Figure 78: Outlets where bought prescription glasses in the last 12 months, Boots, Vision Express, Independents and supermarkets, by socio-economic group, December 2012
Independents attract older ABs
Boots
Other opticians
Is online shopping significant?
THE CONSUMER – ATTITUDES TOWARDS SPECTACLES AND CONTACT LENSES
Key points
Attitudes towards spectacles and contact lenses
Figure 79: Consumer attitudes towards optical goods, December 2012
The eye examination is key to the business model
Reminders a vital marketing tool
Getting technical
Laser shows potential
Style hunters
What about contact lenses?
THE CONSUMER – ATTITUDES TOWARDS BUYING GLASSES
Key points
Attitudes to buying glasses
Figure 80: Consumer attitudes towards prescription glasses, December 2012
Important to keep up to date
Shocking costs?
Valuing good vision
Specs considered better by half
The discount culture
Style-conscious
Figure 81: Consumer attitudes towards prescription glasses, designer frames, suit me and sense of style, December 2012
THE CONSUMER – TARGET GROUPS
Figure 82: Target groups, December 2012
Spectacle Hunters (31%)
Who are they?
How do they correct their vision?
Where do they shop for spectacles and contact lenses?
What are their attitudes towards opticians and optical goods?
Figure 83: Consumer attitudes towards optical goods, by target groups, Spec Hunters, December 2012
Figure 84: Consumer attitudes towards spectacles (any agree), by target groups, Spec Hunters, December 2012
Trendy Specs (35%)
Who are they?
How do they correct their vision?
Where do they shop for spectacles and contact lenses?
What are their attitudes to opticians and optical goods?
Figure 85: Consumer attitudes towards optical goods, by target groups, Trendy Specs, December 2012
Figure 86: Consumer attitudes towards spectacles (any agree), by target groups, Trendy Specs, December 2012
Eye Carers (35%)
Who are they?
How do they correct their vision?
Where do they shop for spectacles and contact lenses?
What are their attitudes towards opticians and optical goods?
Figure 87: Consumer attitudes towards optical goods, by target groups, Eye Carers, December 2012
Figure 88: Consumer attitudes towards spectacles (any agree), by target groups, Eye Carers, December 2012
APPENDIX – DEFINITIONS
ACORN
Advertising data
APPENDIX – INTERNAL MARKET ENVIRONMENT
Figure 89: Wearers of glasses, contact lenses and those who have laser surgery, by demographics, 2012
Figure 90: Wear designed branded frames, by demographics, 2012
Figure 91: Consumer attitudes towards personal appearance, by demographics, 2012
APPENDIX – BROADER MARKET ENVIRONMENT
Figure 92: Broadband penetration, by demographics, 2012
Figure 93: Number of drivers and average mileage driven per year, by demographics, 2012
Figure 94: Hobbies and interests, by demographics, 2012
Figure 95: Hobbies and interests, by demographics, 2012
APPENDIX – CONSUMER – WHAT PEOPLE USE TO CORRECT THEIR VISION
Figure 96: products people use to correct their vision, top five, by demographics, December 2012
Figure 97: products people use to correct their vision, next five, by demographics, December 2012
Figure 98: Repertoire of what people use to correct their vision, by demographics, December 2012
APPENDIX – CONSUMER – RECENT EYE TESTS AND PURCHASES
Figure 99: Last had eye test, by demographics, December 2012
Figure 100: Last purchased glasses, by demographics, December 2012
Figure 101: Last had a contact lens appointment, by demographics, December 2012
Figure 102: Last purchased contact lenses, by demographics, December 2012
APPENDIX – CONSUMER– OUTLETS USED FOR PRESCRIPTION GLASSES AND CONTACT LENSES
Figure 103: Outlets from where prescription glasses bought in the last 12 months, by demographics, December 2012
APPENDIX – CONSUMER– ATTITUDES TOWARDS SPECTACLES AND CONTACT LENSES
Figure 104: attitudes towards optical goods, top five, by demographics, December 2012
Figure 105: Attitudes towards optical goods, next five, by demographics, December 2012
APPENDIX – THE CONSUMER – ATTITUDES TOWARDS BUYING GLASSES
Figure 106: Agreement with the statements ‘Correcting my eyesight is more important than how much it costs’ and ‘Glasses are better for your eyes than contact lenses’, by demographics, December 2012
Figure 107: Agreement with the statements ‘Glasses always end up costing more than you expect once the costs of lenses, coating etc have been included’ and ‘It’s important to update glasses regularly’, by demographics, December 2012
Figure 108: Agreement with the statements ‘A range of frames offered by my optician is not wide enough’ and ‘I prefer to wait for special deals/offers when buying glasses’, by demographics, December 2012
Figure 109: Agreement with the statements ‘I prefer to buy new frames to match current trends or styles’ and ‘I prefer to buy designer frames’, by demographics, December 2012
Figure 110: Agreement with the statements ‘I find it difficult to find glasses that suit me’ and ‘It’s difficult to find frames that fit the lenses I need’, by demographics, December 2012
Figure 111: Agreement with the statements ‘My glasses say a lot about my sense of style’ and ‘Wearing reading glasses is a sign of old age’, by demographics, December 2012
APPENDIX – THE CONSUMER – TARGET GROUPS
Figure 112: Target groups, by demographics, December 2012
Figure 113: What people use to correct their vision, by target groups, December 2012
Figure 114: Last had eye test, by target groups, December 2012
Figure 115: Last purchased glasses, by target groups, December 2012
Figure 116: Last had a contact lens appointment, by target groups, December 2012
Figure 117: Last purchased contact lenses, by target groups, December 2012
Figure 118: Outlets from where prescription glasses/contact lenses bought in the last 12 months, by target groups, December 2012
Figure 119: Attitudes towards optical goods, by target groups, December 2012
Figure 120: Attitudes towards spectacles (any agree), by target groups, December 2012
APPENDIX – REPERTOIRE
Figure 121: Repertoire of what people use to correct their vision, by target groups, December 2012

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