Optical Retail in India

The Indian markets account for about 1% of the worlds consumption of optical products. There are millions of people suffering from eye disorders and vision impairment and need treatment. Highest number of cataract patients in our country. There has been a noticeable shift in consumer purchases for eyewear from form and function to form and fashion. Focus of omestic !anufacturers is to produce sophisticated" high #uality $ elegant eyewear by making use of hi% tech materials combined with aesthetic designs and master craftsmanship. The compounded annual growth rate &'()*+ of the global eyewear industry is about ,- per cent. However" the Indian eyewear market is growing at around .- per cent '()*. The si/e of the Indian eyewear market" comprising optical products such as contact lens" intraocular lens" lasik" lens cleaning solutions" spectacle lenses" frames and sunglasses" is set to more than double by ,-10. From *s.,1"--- crore now" it is poised to touch *s.1."--- crore in three years" according to the (ssociated 'hamber of 'ommerce and Industry of India. The contact lenses market in India is growing at '()* of about ,0 per cent. (s per an industry estimate" sale of disposable contact lenses is rising at about .- per cent. In the sunglasses market" premium sunglasses sales are growing at 1-% and account for .-% of the overall sunglasses market. Types of 2ptical 3roducts 4pectacle 5enses $ Frames 'ontact 5enses 4unglasses 5ens 'leaning 4olutions Formats 6randed showroom7 There are various speciality stores owned by various brands like7 Titan 8ye 3lus" Himalaya. These branded stores are generally found in urban areas and metro cities. 2ther than these branded stores there are various small retailers available in urban as well as rural areas. There are various eyewear brands who sell their products in malls and other optical stores. 2nline Formats7 There are many online stores available where we can find eye wears 8g7 5ens9art.com " smartbuyglasses.com " fashionnyou.com " etc.

Two Optical Retail Chains chosen for study

1. Himalaya Optical
Founded in 1:.0" the company operates in more than 0- optical retail stores spread across the country in all ma;or metros. It is the most trusted eye and vision care brand" driven to ignite the imagination of people in India through range of spectacle frames and sunglasses. *eason for choosing this company is that it has been a pioneer in field of eye and vision care" for decades an undisputed leader in its field and has also served more than 1-- million satisfied customers.

2. Titan Eye Plus

Titan 8ye < is the third ma;or line of consumer business from Titan Industries 5td" ventured into the eyewear segment in ,--=. It offers wide range of stylish and contemporary eyewear through e>clusive optical stores across the country. 6enchmarked against the best in the world" Titan 8ye< will herald standardi/ation Titan 8ye <" in sync with Tata ?s principles of #uality and trust" offers international #uality standards and practices coupled with various aspects such as transparency in pricing" style and contemporary design in the eyewear segment and new practices in the highly fragmented and undifferentiated Indian optical retail segment. *eason for choosing Titan is to study how it manages online and in store customer e>perience and straddle the marketplace with e>acting #uality standards" unparalleled in Indias eyewear industry.