1.1 Definition and scope of the study
The optical market includes all articles and accessories used for the eyes. Optical products can be used as a fashion accessory, for protection or to improve the user's vision.
The three largest categories in the eyewear industry are the following:
- Eyeglasses (corrective or non-corrective);
- Contact Lenses.
The study on the online eyewear market therefore refers to a very specific distribution channel in the optical market which is e-commerce. This sub-segment is highly dependent on the changes and trends affecting the global optics market, and therefore includes all the players and products involved in the sales of eyewear (including lenses, frames or both).
The worldwide increase in the number of eyewear users (due to several factors such as the aging of the world's population, time spent in front of screens, fashion etc.) coupled with the explosion in online sales makes this distribution channel a particularly promising segment.
In France, three quarters of the population have a visual impairment and 44 million French people wear glasses, which must be renewed on average every two years. [Les Echos] On the other hand 87.5% of Internet users reported having made an online purchase in the first quarter of 2019 alone. [Crédit Agricole] The optics market, which ended 2019 with 1.4% growth in France, should therefore be able to take advantage of these trends to accentuate its growth in e-commerce.
1.2 World and European online eyewear market
The global optics market is growing rapidly. In **** it was valued at $***.* billion, and going forward it is estimated to demonstrate a compound annual growth rate of *.*% from **** to ****, driven primarily by a growing demand in Asia Pacific. [***]
The United States' eyewear market is the largest, valued at €**.** billion, followed by ...
1.3 The French market in progress
Due to the many definitions that the optical market may have, the projections and results of the optical market change depending on what is included or not included. This is why we can find different market sizes depending on the sources. However, all agree that this market is growing strongly in ...
1.4 Unbalanced foreign trade
It is impossible to know how much of the exports and imports of the eyewear market in France is due to online trade. However, there is no reason why trends in foreign trade in the overall optics market should differ from those in the online optics market.
In order to best ...
2.1 Summary of the demand
The eyewear industry has many sub-segments, a relevant distinction in the context of demand analysis is based on the purpose of eyewear :
Non-corrective use (***) Corrective use (***)
The proportion of the population benefiting from the product is undoubtedly a relevant variable influencing the current and future turnover of the industry. Nevertheless, there ...
2.2 The French are buying more and more online
The proportion of French people who consume online is increasing year after year, as is the turnover generated by e-commerce. There is also a growing share of transactions carried out on mobile terminals, reinforcing the importance for online shops to have sites or applications adapted to telephones. Indeed, today, more than ...
2.3 Eyewear consumers in France
A large part of the French population wears glasses today. More than * out of ** French people say they wear them (***) but it contrasts with the more mixed success sunglasses in the country, with **% of French people who say they wear them compared to an average of **% in Europe. [***]
2.4 Purchasing criteria
When French people buy glasses there are several criteria that are taken into account. The most common are price and comfort (***) and must therefore compensate by using other criteria to try to convince buyers and capture market share.
Important criteria when purchasing eyeglasses France, ****, % Source: ****
3.1 Market organization and dynamics
The breakdown of the market into categories shows the importance of eyewear, and more specifically of glasses sales (***). It is by far the heaviest segment of the market ahead of frames, sunglasses and lenses.
Structure of the optics market France, ****, % Source: ****
The market is driven upwards in terms of overall ...
3.2 Pure-players rely on cross-channel strategies
In order to strengthen their reputation, pure online sales players such as Direct Optic, Sensee and Polette are choosing to adopt cross-channel or brick and mortar strategies distribution companies that have set up traditional physical activities (***)
The Acuitis group for example, which acquired Direct Optic in ****, has equipped it with a ...
ANALYSIS OF THE OFFER
4.1 Physical sales outlets in a bad patch
Today there are ***** eyewear retailers in France but for the past three years, that number decreased of *** stores per year which were forced to close, despite the fact that more and more people need to wear glasses. The situation evolves differently depending on the nature of the store (***). In fact, store ...
4.2 A wide range of prices
The prices of eyeglasses (***) vary from optician to optician, which makes the average prices non-representative of the market. In fact, a study shows that there are price differences of **% between different shops. [***]
You can still differentiate between different price ranges for the frames:
Bottom of the range / Middle of the range: ...
4.3 Online shops use technology to their advantage
Without being able to offer customers the opportunity to try on their glasses, more and more online stores (***) offer a virtual online eyewear fitting service . Customers, thanks to their webcam, can see what the glasses would look like on them in any position.
Following the fitting, customers can get a preview ...
5.1 Legislation on online sales
Since September **, **** the online sale of eyewear in France has become legal .
According to Acuité́ the law number ****-*** of ** March **** (***). Each patient with this prescription can then order directly online.
Also, online eyewear sellers must act in the same way as traditional sellers. The services offered include: offering information and ...
5.2 The zero charge remainder frames the optics market
The project of the ***% health law, voted in **** and gradually implemented by ****, promises full reimbursement of eyeglasses for French citizens (***). The measures in place since January **** stipulate that :
Mounts without "uncovered remainder" (***). The calculation of the maximum price for a ***% refund will be based on the customer's vision and the nature ...
POSITIONING OF THE PLAYERS
*Direct Optic and Sensee have both been acquired by the Acuitis Group over the last two years. Acuitis does not communicate the global turnover of its group but announces to have a turnover of *** thousand euros on average per store out of ** shops, which gives ** million euros just on its physical ...
- Krys Group
- Optic 2000 OK
- Optical Center
- Direct Optic/Groupe Acuitis
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