Optical Stores are great shopping center tenants! The expansion of vision offerings is growing in demand for both functional and fashionable eyewear. Eyewear is essential across all demographics and is available at all price points from value based to high end. The sector continues to benefit from America’s growing older population which continues to fuel demand for health care services across the board. Optical Stores offer different options and sell a variety of products ranging from trendy designer frames to various types of eyewear to include bifocals, traditional lenses, computer glasses and blue blocking glasses.
Eyeglass retailers continue to expand and look for locations that include malls, community centers, freestanding stores and store in store vision centers. Did you know that Italy-based Luxottica dominates the US market? It’s US operations account for approx. 4,330 units and includes brands such as LensCrafters, Oakley, Sunglass Hut and Pearle Vision. The activity in the eyeglass sector is good for shopping center owners as they can be a driver to the center for eye examinations and create repeat visits for other treatment services. I expect eyeglass brands to remain successful and continue to grow in popularity due to a wider range of products and the incorporation of new technology. Eyeglasses can be purchased online, but the service and treatment component must be done in store. This is a great use to incorporate into a shopping center tenant line up due to its compatibility with other uses and its resiliency to the internet.