Look around you, reader. Can you find someone who is wearing glasses? Yes, you must because there is a 90% chance for you to see someone wearing some sort of eyewear when you are outside.
But have you ever wondered why there has been a huge boom in people wearing glasses? Half the world’s population is set to wear glasses by 2050. Nearly 2 billion people wear glasses or contact lens in the present time. The need for glasses was not required to this extent 30 years ago. What changed this? The answer is technology.
Technology has been the deciding factor for several businesses. It has massively revolutionized the automobile industry. The medical field is heavily advanced because of technology. But the one industry that grew due to the shortcomings of technology was the eyewear industry. It is proven that more than 6 in 10 people need to wear glasses. This is due to the rise in mobile phone usage and the internet boom in the past 20 years.
The eyewear industry is a multibillion-dollar industry and has been growing over the years. Many still do their shopping in brick-and-mortar stores. But with advancing technology, the online part of the eyewear industry is becoming more attractive by the day. The online eyewear business is still a fresh area to be explored despite being worth more than $131 billion. But it is growing at a rapid pace. This blog will look at the success stories of a few top online businesses in this industry. But first, let us look into the eyewear industry in detail
As we already mentioned, technology has aided the eyewear industry massively. By aided, we mean the technology revolution that took place in the last decade. After 2010, there was a huge rise in the sale of mobile phones. Mobile phone sales went from 296 million in 2010 to 1.5 billion by 2021. Mobile phones led to an increase in screen time. The average US adult spends 3 hours and 43 minutes on their cellphone.
This was the pivotal turning point. While teens and adults together strained their eyes and dedicate lots of time to their phones, they did not realize the effect it can have on their eyes. The eyewear industry boomed rapidly throughout the years. The eye care industry in the USA is currently worth $34.50 billion. This is how the bane of technology became the boon for eyewear.
The online eyewear field also rose quickly. The traditional method of having a prescription and going to the doctor and then getting your glasses or contacts was replaced by online consulting. Features like 3-D try-ons, customizable frames, and so many others made the online eyewear industry irresistible. This was followed by delivery of your glasses to your doorstep. As ironic as it may seem, you just have to face your laptop screen for 1 hour to have your eyes checked and get your glasses right to your hands! Technology has monumentally changed the phase of online shopping.
Few online startups in the eyewear field rose to new heights than ever before. They started from the roots and they climbed up to be in the place they are today- the top. Let us look into these startups better.
Founded by Oregon-based investor Jason Bolt, Revant Optics was formed on the idea of sustainability. Sustainability is becoming a challenge for companies but Jason and Revant Optics have brilliantly tackled this problem. Revant Optics is dedicated to providing an excellent consumer experience by smart customer marketing. Jason Bolt founded Revant Optics because he wanted to create affordable lenses that are better for people and the planet. Created for such a noble cause, Revant Optics is truly succeeding in the online eyewear industry.
Revant Optics provides a sustainable solution for the wastage of frames due to damaged lenses or expired prescriptions. They ensure their customers have the option of replacing their lens instead of throwing away the frames. Throwing away frames leads to severe environmental problems. Jason Bolt formed this company when he faced a mountain bike accident in 2010 and broke his sunglasses lenses. Later, he could not find a replacement for the lens. Hence, he took inspiration from this incident and found Revant Optics.
A truly innovative and inspiring foundation for an online eyewear store that is rising to the top. Jason Bolt and his company are reaching new heights every year.
The European eyewear market is worth £20 billion and one of the biggest players in this market is Glasses Direct. Glasses Direct are part of one of Europe’s largest optical retailer, MyOptique Group. Glasses Direct were found by Jamie Murray Wells. His reason for forming Glasses Direct in 2004 was a good
quality pair of glasses would put a huge hole in your pocket. People couldn’t afford to pay for them. Keeping this in mind, Glasses Direct currently is the leading online prescription glasses in the UK.
Jamie’s Glasses Direct provides customer services that boost their market. Features like Home Trial service where customers can wear up to 4 pairs of glasses delivered to their home and a 120-day return policy, Glasses Direct truly know to capture the heart of their customers They go by the motto “improving lives by improving sight” and we go by their revenue and sales, they are very well improving lives. Glasses Direct will continue being one of the biggest online eyewear retail stores for years to come. They have set their path to bigger things.
We cannot miss Lenskart when we are speaking about successful startups. Lenskart revolutionized the eyewear field in India. We can credit Lenksart’s success to their virtuous cause. Founded by Peyush Bansal, Amit Chaudhary, and Sumeet Kapahi, Lenskart was created to satisfy the need for
vision correctness in India. More than 500 million people suffer from vision correctness and Lenskart aims to provide directly to the consumers removing the retailers in between.
Lenskart aims to supply high-quality glasses manufactured by themselves and distributing all over India. Lenskart was worth $1.9 billion in 2019 and has a net income of $2.57 million as of 2020. They can be considered the big fish in the ocean of eyewear. Their aim to give every Indian access to high-quality glasses without spending more than they should soon be a reality. With evolving technology and Lenskart being ahead of everyone, they can accomplish this noble mission.
Every blood, sweat, and tear spilled by Lenskart goes to a good cause. With this, they have risen directly to the top of the e-commerce eyewear ladder. Any online store can take inspiration from Lenskart and work towards the top.
The eyewear industry is said to be worth nearly $180 billion by 2026, and this is the sign for you to take part in the eyewear revolution and be the next big name in this segment. Eyewear products are now one of the most iconic consumer goods of the decade all over the globe. With technology aiding the eyewear industry, it is the perfect time for anyone to get into this business as people from different zones, and vast demographic differences are becoming consumers of the global eyewear market. However, it is not as easy to rise in the eCommerce business, you need to target the right customers at the right time with a message that is personally crafted for everyone. Seems like a challenge? Try Enalito for free and experience it yourself. With the smart campaigns and recommendations running and growing an eCommerce business will become a cakewalk for you.