$17.6bn
$XXX.Xm
141k
10,532
$X.Xbn
Rising incomes and an aging population have translated into revenue growth for eyeglasses and contact lens stores in recent years. Higher incomes allow consumers to afford the out-of-pocket for eyeglasses not covered by their vision benefits. Two central events have also been influencing the performance of eyeglasses and contact lens retailers – the 2018 merger of EssilorLuxottica and accelerating e-commerce sales. The merger between Essilor and Luxottica created an eyewear behemoth, shifting the competitive dynamic of the industry. While value-based optical chains in Costco and Walmart stores have grown steadily, independent retailers have struggled to compete. COVID-19 rapidly accelerated online eyewear sales in 2020, with online and in-person eyeglasses and contact lens sales becoming more entwined since. Industry revenue has been declining at a CAGR of 3.0% to an estimated $17.6 billion over the past five years, including an expected 0.7% jump in 2024.
Industry revenue has declined at a CAGR of 3.0 % over the past five years, to reach an estimated $17.6bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Essilorluxottica | 4,947.1 | 803.9 | 16.2 | |
Costco Wholesale Corp | 3,162.6 | 110.5 | 3.5 | |
National Vision Inc. | 1,611.9 | 112.2 | 7.0 |
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Industry revenue is measured across several distinct product and services lines, including Frames, Eye exams and Contact lenses. Frames is the largest segment of the Eyeglasses & Contact Lens Stores in the US.
Prescription lenses are the top seller for eyeglass and contact lens stores
Operators in this industry sell eyeglasses, contact lenses, sunglasses, safety eyewear and optical accessories. These retail stores may also provide fitting and lens processing services. The industry excludes the manufacture of lenses, online and mail-order retail of optical goods and sales at optometrists’ offices.
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NAICS 44613 - Eyeglasses & Contact Lens Stores in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Demographic and economic trends are influencing eyewear sales. Rising incomes and an aging population are behind rising spending on eyeglasses. A challenging economic environ...
Learn about an industry's products and services, markets and trends in international trade.
Prescription lenses are where eyeglass retailers generate the most sales. No alternatives can substitute for lenses, leading eyeglass wearers to pay for new ones or upgrades ...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The Southeast has the most eyeglasses and contact lens retailers in the US. As the most populous region in the country, eyeglass retailers have access to the largest pools of...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
A handful of major eyeglass retailers dominate the eyewear market. Leading retailers like EssilorLuxottica and National Vision have well-defined competitive strategies that s...
Learn about the performance of the top companies in the industry.
EssilorLuxottica is the global leader in eyewear. The company’s vertical integration makes it difficult for other retailers to compete.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Eyeglass and contact lens retailers face a more stringent regulatory environment than other retail industries. Retailers’ connections to insurance providers and private healt...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Eyeglass retailers are paying more for inventory from upstream suppliers. Supply chain disruptions, elevated transportation costs and higher input prices have increased the c...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Eyeglasses & Contact Lens Stores in the US industry in United States is $17.6bn in 2024.
There are 10,532 businesses in the Eyeglasses & Contact Lens Stores in the US industry in United States, which has grown at a CAGR of 1.3 % between 2019 and 2024.
The market size of the Eyeglasses & Contact Lens Stores in the US industry in United States has been declining at a CAGR of 3.0 % between 2019 and 2024.
Over the next five years, the Eyeglasses & Contact Lens Stores in the US industry in United States is expected to grow.
The biggest companies operating in the Eyeglasses & Contact Lens Stores market in United States are Essilorluxottica, Costco Wholesale Corp and National Vision Inc.
Prescription lens retailing and Contact lens retailing are part of the Eyeglasses & Contact Lens Stores in the US industry.
The company holding the most market share in United States is Essilorluxottica.
The level of competition is moderate and increasing in the Eyeglasses & Contact Lens Stores in the US industry in United States.