Spend on optical goods forecast to increase

Consumer spending on optical goods and services is forecast to increase from £3.39m in 2019 to £3.84m by 2024, according to the Mintel Optical Goods Retailing report 2020.

The market insights company has predicted steady growth for the optical sector, which is being helped by an increasing, ageing population.

It highlighted that product innovation is aiding practitioners in offering added benefits from eyewear, such as tailor-made spectacles, quality varifocal lenses and more comfortable contact lens materials.

Mintel said that the sector is dominated by Specsavers, Vision Express and Boots Opticians, and highlighted that over 100 independents have joined the Hakim Group.