One of the reasons to stay in touch with ResearchRecap and the AlacraStore is the range of niche industries we cover. Today we take an excerpt from the latest Key Note report on Ophthalmic Goods. Key Note is a well known publisher of deep industry reports and this one is deep at 110 pages.
“In 2009 and 2010, an already consolidated market for ophthalmic goods and services experienced another period of acquisitions and mergers. This is a healthy market, underpinned by strong levels of government subsidy, which encouraged major players such as Specsavers, Vision Express and Optical Express to expand their store portfolios. The other two major retail opticians, Boots Opticians and Dollond & Aitchison (D&A) announced a merger in May 2009 and, during 2010, began the process of converting D&A stores under the Boots Opticians retail brand.
The value of the market stood at an estimated £2.93bn at the end of 2009, having grown by 11.2% since 2006. Despite the economic recession, which started in 2008, confidence has held up fairly well in this market. Purchases of spectacles are often partly essential and partly discretionary, since the amount an individual can spend on them is variable. The market is buoyed by NHS subsidies, which funded around 74% of eye tests in 2009 and issued more than 5 million vouchers redeemable for spectacles and contact lenses. Since 2006, the level of this subsidy has risen year-on-year.
However, it is not only the public purse that has supported growth in market value; strategies on the part of the opticians themselves have encouraged greater take-up. Consumers have a strong interest in designer frames, and retailers have encouraged high volume sales by promoting glasses on two-for-one offers, often pitching prices at around the value of NHS vouchers. Although this market is highly competitive and has not seen any…”
Key Note’s comprehensive report is 110 pages, and contains 32,629 words.
Purchase this report on Britain’s Ophthalmic Goods and Services.