Eyewear retailer
An eyewear retailer or eyewear store is a retail businesses selling eyewear and often providing optometry services.[1] Eyewear retailers may sell any number of different products, including sunglasses, spectacles, contact lenses, sports eyewear, and safety and protection eyewear.[2]
The sector is driven by the rising global population, economic development, increased consumer purchasing power, and the global prevalence of ocular diseases.[2] The increased use of digital screens has led to an increase in vision impairment, cataracts, myopia, hypermetropia, eye irritation, dry eyes, computer vision syndrome and double vision.[1][2]
Sunglasses make up 42% of the global eyewear market as of 2020. They protect the eyes from sun damage and conjunctivitis, but are also sold as fashion accessories, with many consumers opting to have a number of sunglasses for different occasions.[2]
Contact lenses are the fastest-growing product segment. They offer a natural field of view, no frames, reduced distortion, and no fog or glare.[2]
Many eyewear retailers are owned by EssilorLuxottica, including Clearly.ca/Coastal.com, Eyebuydirect, FramesDirect.com, LensCrafters, OPSM, Pearle Vision, Sears Optical, Sunglass Hut, Target Optical and Vision Source.[3] The company's market dominance featured in an episode of Tru TV program Adam Ruins Everything.[4]
History
Revenue in the eyewear retail sector declined 14.2% between 2019 and 2020, with the onset of the COVID-19 pandemic.[5]
The sector recovered quickly in 2021.[6]
The global eyewear market is projected to be worth US$111.12 billion by 2026,[2] and US$172.42 Billion by 2028.[1]
References
- "With 6.0% CAGR, Eyewear Market Size worth USD 172.42 Billion in 2028". Globe Newswire. Fortune Business Insights. 20 April 2022.
- "Opportunities in the Global Eyewear Market: A $111.12 Billion Market by 2026". Business Wire. 1 October 2021.
- Knight, Sam (10 May 2018). "The spectacular power of Big Lens". The Guardian. Guardian News & Media Limited.
- "Adam Ruins Everything Explains Why Eyeglasses Are So Frigging Expensive". The Interro Bang. Orange Pop Medi. 12 September 2016.
- "News Briefs Archive How Much Did the Vision Market Decline Last Year?". Review of Optometric Business. Jobson Medical Information. 20 January 2021.
- "Eyewear market projected to hit $111 billion". Value Walk. Value Walk Inc. 7 April 2022.