Online Eyeglasses & Contact Lens Sales in the US Industry Market Research Report from IBISWorld Has Been Updated

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To attract consumers, many online retailers will expand their software that enables consumers to virtually try on products, or try on frames at home and, furthermore, some online retailers will invest in software that allows consumers to obtain their PD measurements online, rather than have to visit an optometrist, driving demand for online purchases of eyeglasses and contact lens. For these reasons, industry research firm IBISWorld has updated a report on the Online Eyeglasses & Contact Lens Sales industry in its growing industry report collection.

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Online retailers will expand their software that enables consumers to virtually try on products

Since 2003, the Online Eyeglasses and Contact Lens Sales industry has benefited from the Fairness to Contact Lens Consumers Act, which has enabled consumers to receive contact lens prescriptions without having to purchase industry products from a particular seller. For example, prescribers that provide eye prescriptions cannot require patients to purchase contact lens, glasses or other industry products at the end of the fitting, allowing online retailers to provide eye products directly to consumers. IBISWorld Economic Analyst Sarah Turk says in the updated report “furthermore, the burgeoning elderly population has provided a boon to the industry, as an estimated 4.2 million adults aged 40 and older had a vision impairment, according to the National Eye Institute.” As a result, many elderly individuals have purchased industry products to amend low vision, myopia and hyperopia, stimulating industry revenue growth.

Nevertheless, the industry has grappled with many brick-and-mortar retailers and optometrists, either refusing to provide measurements or charging consumers for pupillary distance (PD) measurements, which has made it slightly arduous for consumers to purchase industry products from online retailers. For example, according to the American Optometric Association, merely five states require optometrists to provide their patients with free PD measurements. However, industry revenue is expected to skyrocket over the five years to 2015. “Overall, many brick-and-mortar optical retailers have developed a strong online presence, appealing to consumers with 24/7 accessibility,” Turk says in the updated report. Further exacerbating this trend, e-commerce retailers that solely operate online have also inundated the industry.

Over the next five years, industry revenue is forecast to grow. To attract consumers, many online retailers will expand their software that enables consumers to virtually try on products, or try on frames at home. Furthermore, some online retailers will invest in software that allows consumers to obtain their PD measurements online, rather than have to visit an optometrist, driving demand for online purchases of eyeglasses and contact lens.

For more information, visit IBISWorld’s Online Eyeglasses & Contact Lens Sales in the US industry report page.

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IBISWorld industry Report Key Topics

This industry sells optical and eyewear goods over the internet. Merchandise is generally purchased from domestic (in some cases international) manufacturers and wholesalers, and it is then sold to the public.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

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Gavin Smith
IBISWorld
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