Question

What were the opportunities and threats in the optical industry? How did these trends affect industry growth?

Answer 1

Opportunities are:

1. The need for glasses since hereditary poor eyesight

2.While nearsightedness will grow slightly, the demand for far-sighted eye correction is projected to rise significantly in the next 50 years, bringing more consumers to suppliers and retailers.
3.While shopping is not necessarily an option for such a crowded industry, the internet retail market is now evolving, which will be an immense option for retailers.

4.Emerging economies are proving to be a huge opportunity, because many people in these countries are also unable to afford eyeglasses, which means that demand is fast here

Threats are:

1. Lasik and other surgical operations are added.
2. Contrast to the potential for development in the developing world, there is very little space for development in the developed world, which is a challenge to manufacturing.