French Optical Market Resists in 2009, Despite Shop Average Turnover Decline

The French Optics market generated a 5.242 billion euro (VAT included) turnover in 2009, representing a growth of 3.1%. This sector is still benefitting from the growth of the French population and the support from State medical insurance. Nevertheless this trend is carried only thanks to the growing number of optical shops on the French market.

Average revenue per POS under 500K€/year

Over the past 5 years, the average turnover per shop has undergone a downturn. In 2009, this average revenue has gone under the symbolic line of 500K€ per shop per year. Despiste the regular and steady growth of optical expenses, the number of optician shops has grown even more rapidly ; the growth of number of points of sales (net growth comparing openings and closings) is even stronger in 2009 than in 2008 !

Spectacle lenses: Volume sales are stable (+0.3%). In spite of the growing number of glasses wearers, sales keep on being spread out along time. Still, the market is undergoing a technological switch to more and more elaborated products such as high index (+15.5% in value) or coated glasses (1 out of 2 glasses being coated). The average price is increasing, hence the value growth.

Contact lenses: Depsite the economic crisis, the demand for this product has kept on growing (+1.6%). But consumers are more regarding towards the price of the products and tend to buy tradebrands or equivalent products at a less expensive price. Care products, on the contrary, have beneficiated from a change in the mix which resulted in the growth of liter price. The market value grew 1.5% for the first time in years.

Economic crisis or not, opticians stay optimistic with a confidence index of 61 (vs. 54 in 2008). Even though consumers have slowed down their equipement renewal of changed their way of spending, the optical market has managed to shift consumption to a higher range of products… and more expensive.

If local competition is higher due to the growing number of point of sales, the optical sector is still a preserved market. Neverthless it will have to rationalized and face the new consumption issues especially facing the possible development of online sales.