Spectacles in the US

PROSPECTS

Spectacles grows thanks to the prioritisation of eye health

For the second year in a row, spectacles enjoyed growth in 2019, as consumers’ increasing knowledge of and concern for eye health drove sales of readymade reading glasses, spectacle lenses and spectacle frames. With the ubiquity of digital devices as a result of consumers of all ages increasingly depending on them for both work and play, the commonality of digital eye strain has led consumers to seek speciality spectacle lenses to alleviate symptoms and preserve the long-term health of their eyes.

Speciality lenses aim to combat digital eye strain

As consumers around the world increasingly prioritise exercise, nutrition and other healthy habits on the back of the global health and wellness trend, US consumers are extending their growing mindfulness to their eye health as well, especially as the use of digital devices becomes increasingly ubiquitous for both work and play. With eye care professionals and spectacle lens manufacturers alike using their websites and other communication methods to educate consumers about eye health and preventative eye care, many consumers have begun to opt for speciality lenses to provide additional protection, with manufacturers increasing product development to meet the growing demand.

Optical shops channel continues to dominate as internet retailing grows

Internet retailing continued to be the fastest-growing sales channel for spectacle frames in 2019 as the process to purchase prescription glasses online has become cheaper and easier over recent years. Catalysed by the founding of Warby Parker in February 2010, which has enjoyed rapid growth in both sales and popularity thanks to innovations such as its home try-on process, virtual try-on application, and its wide selection of affordable frames, there are now a vast number of pure-play e-commerce spectacle retailers present on the US market.

COMPETITIVE LANDSCAPE

Spectacle frames and spectacle lenses leaders complete merger

With a strong portfolio of prominent owned and licensed brands, an expansive retail network, including the LensCrafters and Target Optical brands, and its ownership of EyeMed Vision Care, the second largest vision benefits company in the US, Luxottica US Holdings Corp continued to lead spectacles in 2018 with sales dwarfing those of its competitors. Meanwhile, Essilor of America Inc’s sales of spectacle lenses also far exceeded those of its competitors, Carl Zeiss Vision Inc and Hoya Vision North America.

New players tout diverse USPs in a fragmented spectacle frames category

The spectacle frames category remains highly fragmented as consumers are motivated more by fit, function and value when it comes to spectacle frames than they are to the brand names and logos that dominate sunglasses. As a result, the US is seeing the emergence of new spectacle frames brands offering a wide range of unique selling points, from frames for under USD6 at Zenni to artistic designs at Krewe.

Telemedicine seeks to disrupt spectacles

While in-home and virtual try-on programmes have helped to propel spectacle sales through internet retailing in recent years, the channels’ growth has been largely inhibited by the necessity of visiting an eye care professional for an eye exam prior to renewing a prescription. Now, however, some companies, like Los Angeles-based Lensabl, are seeking to offer an alternative through ocular telemedicine, moving the entire ordering process, from exam to try-on and purchase, completely online.

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