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What is the future of the online eyewear industry post-pandemic?

Last updated :
March 10, 2024
/

minutes read

Peering into the Future: The Post-Pandemic Boom in Online Eyewear

In the aftermath of the pandemic, the online eyewear industry is on the verge of a revolution. Are you ready for the spectacle?

In a world where pandemics redefined normalcy, industries adapted, innovated, and transformed. One such industry, often overlooked yet essential, has charted a course for a promising future - the online eyewear industry.

The Digital Vision

The COVID-19 pandemic accelerated the shift to digital retail in many sectors, including eyewear. Amid lockdowns and social distancing, consumers turned to the convenience and safety of online shopping. As per a report by Grand View Research, the global online eyewear market size was valued at $4.66 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 15.1% from 2021 to 2028.

This surge was supported by technologies like virtual try-on, AI-powered recommendations, and AR-based product visualisation. Gone are the days when choosing glasses or contact lenses was a tedious task. The digital revolution, augmented by the pandemic, has made it convenient and even fun.

A Clear Perspective on India

In the Indian context, this industry has immense potential for growth. According to the Vision Council of India, nearly half of India's population requires vision correction, but only 25% of those have their vision corrected.

The reasons are manifold - lack of access to eye care services, particularly in rural areas, limited awareness about eye health, and affordability issues. This is where the online eyewear industry can play a pivotal role.

By providing affordable, high-quality eyewear with the convenience of home delivery, online platforms can bridge the gap. Innovative solutions like eye-tests at home and on-demand optometrist consultations are already being offered by some online eyewear retailers.

Roadblocks on the Horizon

However, the path forward is not without challenges. Trust issues are prevalent among consumers when it comes to online eyewear shopping. Questions arise about the accuracy of prescriptions, the quality of products, and the fit and comfort of glasses bought online.

To address these concerns, online eyewear companies are focusing on improving their customer service and offering flexible return policies. Some are even incorporating cutting-edge technologies to ensure precision and comfort.

In the Pipeline: New Vision

Despite the challenges, the future of the online eyewear industry looks bright, particularly in a post-pandemic world. The continued growth of internet penetration in India, coupled with a growing acceptance of online shopping, paints a promising picture.

Companies are already investing heavily in technology to enhance the virtual shopping experience. For instance, Lenskart, an Indian online eyewear retailer, has developed a 3D try-on feature, enabling customers to try glasses virtually from different angles.

Moreover, with the increase in digital screen time, the demand for blue light glasses is expected to rise, providing a fresh avenue for growth. Additionally, the trend of eyewear as a fashion statement is catching on, opening up opportunities for niche, designer eyewear e-retailers.

The Spectacle Ahead

The online eyewear industry has weathered the storm of the pandemic and is now poised for accelerated growth. As the sector continues to innovate, the line between offline and online retail may blur even further, leading to an exciting era of hybrid retail models.

To tap into this potential, companies will need to stay agile, continually innovate, and most importantly, keep the consumer at the heart of their business model.

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