In the frame: Increasing demand for lower priced eyewear has supported industry revenue growth

The Online Eyeglasses and Contact Lens Sales industry has benefited from operating in the rapidly expanding online retail space over the past five years. The internet provides shoppers with an array of retail options at varying price points, which has contributed to online shopping's rapid growth. Many industry operators have reaped the rewards of online retail's lower operating cost structures. As a result, online eyewear retailers have been able to offer greater discounts on their products compared with their bricks-and-mortar counterparts, which typically have higher labour and utility costs.Although Australia's ageing population represents a key market for bricks-and-mortar optical stores, older demographics only account for a small portion of online sales...read more.

Industry Statistics & Market Size
Revenue
$99m
Annual Growth 14-19
5.8%
Forecast Growth 19-24
Profit
Employment
229
Businesses
45
Market Share of Companies

Industry Threats & Opportunities

  • Online eyewear retailers have been able to offer greater discounts on their products, boosting sales
  • Industry websites have offered customers virtual fitting rooms to improve the shopping experience
  • Corrective vision surgery will become increasingly affordable, limiting long-term industry demand
  • Industry Report - Industry Analysis Chapter

    The Online Eyeglasses and Contact Lens Sales industry has recorded strong growth over the past five years, on the back of robust growth across the entire online retailing landscape. Technology advancements, particularly in ecommerce platforms and website interactivity, have contributed to an increasing number of consumers shopping online over the period. In addition, consumers are increasingly considering eyeglasses to be a fashion accessory, which has reduced the average purchase cycle of eyeglasses over the past five years. This trend has benefited industry players that stock an array of designer brands over the period. In addition, new retailers have increasingly designed their own products and outsourced their manufacturing over the past five years. As ...purchase to read more.

    Additional Insights for the Online Eyeglasses and Contact Lens Sales Industry

    IBISWorld has determined the most important Key Success Factors for the Online Eyeglasses and Contact Lens Sales are:

  • Effective product promotion
  • Having an integrated operation
  • Having a loyal customer base
  • IBISWorld analysts also discuss how external factors such as Real household disposable income and Private health insurance membership in the Online Eyeglasses and Contact Lens Sales industry impact industry performance..

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    What's in this report

    What is the Online Eyeglasses and Contact Lens Sales Industry?

    Industry firms primarily sell optical and eyewear goods over the internet. Firms purchase merchandise from manufacturers or wholesalers to onsell to consumers. The industry also includes sunglasses sold online.

    Industry Products
  • Contact lenses
  • Eyeglasses
  • Sunglasses
  • Other products
  • Industry Activities
  • Sale of eyeglasses
  • Sale of contact lenses
  • Sale of sunglasses
  • Sale of contact lens accessories
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Real household disposable income
  • Private health insurance membership
  • Internet connections
  • Median age of the population

  • Current Performance
  • A favourable trading space
  • Demographic differences
  • Technological and product changes
  • Insurance claims
  • Chart: Revenue Growth

  • Industry Outlook
  • Growth constraints
  • Industry participants
  • Table: Online Eyeglasses and Contact Lens Sales Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Online Eyeglasses and Contact Lens Sales Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Optometry and Optical Dispensing
  • Photographic and Optical Goods Manufacturing

  • Products & Services
  • Contact lenses
  • Eyeglasses
  • Sunglasses
  • Other products
  • Chart: Online Eyeglasses and Contact Lens Sales Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Consumers aged 25-44
  • Consumers aged 45-54
  • Consumers aged 55 and over
  • Consumers aged 24 and under
  • Chart: Major Market Segmentation for the Online Eyeglasses and Contact Lens Sales Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Marketing
  • Shipping and handling
  • Depreciation and other
  • Chart: Cost Structure Benchmarking – Sector vs Online Eyeglasses and Contact Lens Sales

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Online Eyeglasses and Contact Lens Sales Industry

  • Industry Globalization
    Coastal Contacts (Aus) Pty Ltd,
  • Table: Coastal Contacts (Aus) Pty Ltd - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Online Eyeglasses and Contact Lens Sales Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Online Eyeglasses and Contact Lens Sales Industry
    Includes:
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Wages (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Bifocal Lenses
  • Eyeglass lenses with two distinct optical powers. These lenses are typically used for correcting short-sightedness and far-sightedness.
  • Cataract
  • Clouding of the natural lens of the eye, usually caused by aging in conjunction with other risk factors, such as exposure to the sun's UV rays, smoking, steroid intake and diabetes.
  • Glaucoma
  • An eye disease in which the optic nerve is damaged and can lead to blindness if left untreated.
  • Macular Degeneration
  • A disease of the retina resulting in loss of central vision.
  • Toric Contact Lenses
  • Specially designed soft contact lenses used to correct astigmatism.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Online Eyeglasses and Contact Lens Sales market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Online Eyeglasses and Contact Lens Sales:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Online Eyeglasses and Contact Lens Sales market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Online Eyeglasses and Contact Lens Sales, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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