2023
9
UK Optical Goods Retailing Market Report 2023
2023-04-05T04:06:04+01:00
OX1154829
2195
162153
[{"name":"Retail","url":"https:\/\/store.mintel.com\/industries\/retail"},{"name":"Vision and Eye Health","url":"https:\/\/store.mintel.com\/industries\/health-wellbeing\/vision-optical"}]
Report
en_GB
“Outside of the downturn caused by the pandemic, the optical goods industry has been witnessing slow yet steady growth. The cost of living crisis is setting back growth seen in…

UK Optical Goods Retailing Market Report 2023

£ 2,195 (Excl.Tax)

Description

Despite the necessity of the industry towards health and wellbeing, the UK optical goods market is not immune to the ongoing cost-of-living crisis. Businesses will need to adapt in order to encourage consumers to keep spending. Mintel’s UK Optical Goods Retailing Market Report explores the current and future trends in the industry, and provides the expert analysis and recommendations needed to future-proof your business through ongoing economic difficulties. Read on to find out more.

Optical Goods Retailing Market – Current Landscape

Mintel’s market analysis found that the optical goods market recovered the loss seen in the height of the pandemic in 2021 and early 2022, with pent-up demand for eye appointments and updated prescriptions helping to fuel growth.

However, rising interest rates and a challenging economic climate present a challenge to opticians and the UK eyewear industry to maintain purchasing levels when consumers are increasingly looking to budget.

Optical Goods Market Trends

Despite the optical goods industry being widely regarded as healthcare and therefore an essential spend, consumers, younger ones in particular, will forgo purchases and appointments as their finances are put under pressure.

  • Optical goods consumer behaviour: A quarter of consumers agree they have postponed eye tests as a direct result of the cost-of-living crisis.
  • Optical goods retail consumer attitudes: Expertise is highly valued by optical goods consumers, with 57% saying knowledgeable staff was an important factor when choosing an optician.
  • Eyewear retailing shopping habits: In 2022, early 90% of shoppers buying prescription glasses did so in-store.
  • Optical goods market segmentation: Prescription glasses remain the most popular corrective eyewear, accounting for almost 65% of consumer spending on optical goods and services.

UK Optical Goods Market Opportunities

Mintel’s analysis of the UK optical goods retailing market found that the preference for in-store purchasing remains a key factor in driving growth, with consumers valuing customer service and expertise. With a strong return to the high street, opticians have the opportunity to focus on consumers’ priorities and emphasise their staff expertise in order to encourage in-store spending.

Read on to find out more about the content of our UK Optical Goods Market Report, or if you’re interesting in learning more about the UK retail sector, take a look at our extensive market research.

Quickly Understand

  • Market performance and the effects of the cost of living crisis
  • What optical goods are being purchased, and what channels are being used
  • Channels and retailers used to purchase optical goods
  • Establishing purchase and appointment drivers
  • Analysing attitudes and behaviours towards glasses/lenses purchasing.

Products and Brands Covered in this Report

Products: Eye tests, prescription sunglasses, spectacle frames and lenses, contact lenses, contact lens solutions, non-prescription sunglasses.

Brands: Specsavers, Boots Opticians, Vision Express, David Clulow, Optical Express, Cubitts.

Expert Analysis from a Specialist in the Retail Sector

This report, written by Fiona McDonald, a leading analyst in the retail sector, delivers in-depth commentary and analysis to highlight current trends in the UK eyewear market and add expert context to the numbers.

Outside of the downturn caused by the pandemic, the optical goods industry has been witnessing slow yet steady growth. The cost of living crisis is setting back growth seen in 2021, however, as customers rethink new purchases and tighten budgets. The emergence of new disruptor brands is set to challenge the purchasing journey for spectacles and lenses both on and offline, as well as online services offering customers additional touchpoints for eyecare.

 

Fiona McDonald
Retail Analyst

Table of Contents

  1. Overview

    • Key issues covered in this Report
    • Products covered in this Report
    • Excluded
  2. Executive Summary

    • The five-year outlook for optical goods
      • Figure 1: Category outlook, 2023-27
    • The market
    • Market size and forecast
      • Figure 2: Market forecast for optical goods and services, 2017-27
    • Sunglasses sector returns to growth as international travel sees boost
      • Figure 3: Market forecast for non-prescription sunglasses, 2017-27
    • Market segmentation
      • Figure 4: Estimated consumer spending on optical goods and services, by category, 2022
    • Companies and brands
    • High street retailers the most highly regarded
      • Figure 5: Key metrics for selected brands, 2023
    • Advertising spend exceeds pre-pandemic levels
      • Figure 6: Total above-the line, online display and direct mail advertising expenditure on optical goods (£m), 2018-22
    • The consumer
    • Number of consumers attending eye examinations sees gradual decline
      • Figure 7: Percentage of people going for an eye or hearing test in the last two years, 2019-22
    • Convenience and familiarity are key factors considered when choosing an optician
      • Figure 8: Reasons for choosing an optician, 2021-22
    • Glasses purchasing sees an increase, while contact lenses remain level
      • Figure 9: Eyewear and hearing aids purchasing in the last two years, 2021-22
    • In-store the clear preference for eyewear purchasing
      • Figure 10: Channels used to purchase eyewear, 2020-22
    • Specsavers the most used optician
      • Figure 11: Channels used to purchase eyewear, 2022
    • Expertise highly valued in opticians
      • Figure 12: Important factors when choosing an optician, 2022
    • Most purchase eyewear after having had an appointment
      • Figure 13: Attitudes towards eye appointments and purchasing, 2022
  3. Issues and Insights

    • Cost of living will impact budgets, but most are prioritising eyecare
    • Increased screen time heightens demand for eyecare
    • Opportunities within the online space
  4. Market Size and Performance

    • Recovery strong, but economic pressures hinder consumer spending
      • Figure 14: estimated consumer spending on optical goods and services, 2017-22
  5. Market Forecast

    • Cautious consumer spending sets back strong post-pandemic growth
      • Figure 15: Category outlook, 2023-27
    • Necessity of the industry fuels steady upwards growth
      • Figure 16: Market forecast for optical goods and services, 2017-27
      • Figure 17: Estimated consumer spending on optical goods and services, 2017-27
    • Sunglasses sector returns to growth as international travel sees boost
      • Figure 18: Market forecast for non-prescription sunglasses, 2017-27
      • Figure 19: Estimated consumer spending on non-prescription sunglasses, 2017-27
    • Learnings from the last income squeeze
    • Forecast methodology
  6. Market Segmentation

    • Spectacles make up the bulk of spending, but contact lenses are recovering
      • Figure 20: Estimated consumer spending on optical goods and services, by category, 2022
      • Figure 21: Estimated consumer spending on optical goods and services, by category, 2015-22
  7. Market Drivers

    • Average weekly earnings fall well behind inflation
      • Figure 22: Real regular pay, by consumer price index, January 2010-January 2023
    • Aging population drives market growth
      • Figure 23: Trends in the age structure of the UK population (000s), 2022-31
    • Increased screen time means the category can offer solutions
    • Inflation will continue to eat into consumer spending power over the course of 2023
    • Further interest rates increases will hit mortgage-holders
    • High inflation and rising interest rates will compound the impact of the slowing recovery
    • Consumer spending power will be curbed
    • Low unemployment is helping underpin
    • Consumers’ financial wellbeing has fallen from the highs of 2021…
      • Figure 24: Household financial wellbeing index, 2016-23
    • …and most people are feeling the effects of price rises
  8. Market Share

    • Specsavers continue to hold the majority share
      • Figure 25: Estimated share of the UK optical goods and services market, 2022
  9. Launch Activity and Innovation

    • Product and service expansions
    • Asda become the first UK supermarket to offer diabetic eye screening
    • Specsavers introduces myopia management offering
    • Ace & Tate ventures into ski goggles
    • Johnson & Johnson Vision launches new Acuvue lenses
    • New stores and product launches
    • Dita opens its debut European store in London
      • Figure 26: Eyewear brand Dita’s debut London store, 2022
    • Affordable eyewear brand IOLLA launches eco collection at Manchester store
    • Bloobloom eyewear to add five more London stores
    • Charitable collaborations
    • Specsavers teams up with Crisis for Christmas 2022
    • Mika & Me encourages people to donate old glasses for cancer charity
    • Technology and 3D printing in eyecare
    • University of Strathclyde researchers develop 3D imaging device
    • Fauna, a brand of smart glasses with built-in speakers
    • XRAI Glass offer smart glasses with real-time captioning
      • Figure 27: XRAI Glass software via phone-tethered augmented reality smart glasses, 2022
    • Maison Acuitis using 3D printing to make bespoke glasses
    • Eyoto announces launch of Theia remote slit lamp
  10. Advertising and Marketing Activity

    • Advertising spend exceeds pre-pandemic levels
      • Figure 28: Total above-the line, online display and direct mail advertising expenditure on optical goods, 2018-22
    • 84% of sector advertising comes from top three retailers
      • Figure 29: Leading optical goods retailers’ above-the-line, online display and direct mail advertising spend, 2018-22
    • A third of expenditure focused on TV advertising
      • Figure 30: Total above-the-line, online display and direct mail advertising expenditure on optical goods, by media type, 2022
    • Key campaigns
    • IAPB launches 2022 Love Your Eyes campaign
    • Specsavers’ playful campaign focuses on kissing with glasses on
      • Figure 31: Specsavers’ campaign to highlight free contact lens trial, 2023
    • Scotlens launches Valentine’s Day campaign asking patients to #GoNaked
    • Outside Clinic launches first television advert in almost a decade
    • Nielsen Ad Intel coverage
  11. Brand Research

    • Brand map
      • Figure 32: Attitudes towards and usage of selected brands, 2023
    • Key brand metrics
      • Figure 33: Key metrics for selected brands, 2023
    • Brand attitudes: Boots Opticians well trusted
      • Figure 34: Attitudes, by brand, 2023
    • Brand personality: High street retailers associated with being easily accessible
      • Figure 35: Brand personality – macro image, 2023
    • Cubitts a cutting edge brand
      • Figure 36: Brand personality – micro image, 2023
    • Brand analysis
    • Specsavers the most well-known brand
    • Vision Express favoured by younger demographics
    • Boots Opticians viewed as good value
    • Optical Express gets a positive endorsement from female customers
    • Nearly a fifth of consumers view David Clulow as innovative
    • Cubitts a stylish and fun brand
  12. Leading Eyewear Specialists

    • High street opticians lead the market
      • Figure 37: Leading optical goods specialists net revenues (excluding VAT), 2017-22
    • M&S rolls out 35 opticians
      • Figure 38: Leading optical goods specialists outlet numbers, 2017-22
    • IOLLA opens in Manchester
    • Cubitts expands into Scotland with two new Edinburgh stores
  13. Eye and Hearing Tests

    • Number of people getting examined declines
      • Figure 39: Number of people going for an eye or hearing test in the last two years, 2019-22
    • 25-44s least likely to have had an eye test in the past two years
      • Figure 40: Percentage of people going for an eye or hearing test, by age group, 2022
    • Lower socio-economic groups least likely to have an eye test
      • Figure 41: Percentage of people going for an eye or hearing test, by socio-economic group, 2022
      • Figure 42: Eligibility for NHS sight tests, by socio-economic group, 2022
  14. Reasons for Choosing an Optician

    • Familiarity remains a key factor
      • Figure 43: Reasons for choosing an optician, 2021-22
    • Recommendations more valuable among younger consumers
      • Figure 44: Reasons for choosing an optician, by age group, 2022
  15. Purchasing of Eyewear

    • Purchasing of glasses rises
      • Figure 45: Eyewear and hearing aids purchasing in the last two years, 2021-22
    • Contact lens purchasing remains steady
      • Figure 46: Eyewear and hearing aids purchasing in the last two years, by age group, 2022
    • Majority only purchasing one category
      • Figure 47: Repertoire of eyewear and hearing aids purchasing in the last two years, 2022
  16. Retailers and Channels Used

    • Online increasingly used to purchase contact lenses …
      • Figure 48: Channels used to purchase eyewear, 2022
    • … with the online channel growing in popularity
      • Figure 49: Channels used to purchase eyewear, 2020-22
    • Purchasing by age groups
      • Figure 50: Channels used to purchase contact lenses, by age group, 2022
      • Figure 51: Channels used to purchase glasses, by age group, 2022
    • Specsavers the most popular retailer for eyewear
      • Figure 52: Channels used to purchase eyewear, 2022
  17. Important Factors When Choosing an Optician

    • Over half value expertise …
      • Figure 53: Important factors when choosing an optician, 2022
    • … and higher still among older age groups
      • Figure 54: Important factors when choosing an optician, by age group, 2022
    • Younger consumers more likely to value sustainable ranges
      • Figure 55: Important factors when choosing an optician, by age group, 2022
    • Promotional activity more important to sunglasses buyers
      • Figure 56: Important factors when choosing an optician, by type of eyewear purchased in the last two years, 2022
  18. Attitudes towards Eye Appointments and Purchasing

    • Nearly two fifths of consumers wait until a change in eyesight
      • Figure 57: Attitudes towards eye appointments and purchasing, 2022
    • Young males more likely to wait for eyesight changes before testing
      • Figure 58: Optical Goods Retailing – CHAID – Tree output, November 2022
    • Most interest in at-home appointments comes from younger consumers
      • Figure 59: Attitudes towards eye appointments and purchasing, 2022
  19. Appendix – Data Sources, Abbreviations and Supporting Information

    • Abbreviations
    • Consumer research methodology
  20. Appendix – Forecast Methodology

    • Market forecast and prediction intervals
      • Figure 60: Forecasted consumer spending on optical goods and services, 2022-27
      • Figure 61: Forecasted consumer spending on non-prescription sunglasses, 2022-27
    • Market drivers and assumptions
    • Forecast methodology
  21. Appendix – CHAID Methodology

    • Methodology
      • Figure 62: Optical Goods Retailing – CHAID – Tree output, November 2022
      • Figure 63: Optical Goods Retailing – CHAID – Table output, November 2022

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

Market

Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.

Consumer

Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

Brand/Company

Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.

Data

Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.

*databooks not available with UK B2B Industry reports.

Below is a sample report, understand what you are buying.

Click to show report
2024 Sample Consumer Cover

Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.

Trusted by companies. Big and small.

Want to speak to us directly?

Contact us with your enquiry and our expert global team can help.

Get in touch