Thursday, January 24, 2013
The Growing Online Market in Britain
“When Mitesh Patel started selling contact lenses online in 2008, his company hit a snag: potential customers did not think such a service existed. ...But once Lenstore got the message across that high street opticians did not enjoy a monopoly in the UK, the business grew rapidly. It has been profitable every year since 2009, recorded revenues of £7m last year, and has attracted more than 100,000 customers,” reports the Financial Times about the online optical market in the U.K. “Lenstore has joined a number of online optical stores that are challenging the dominant high street outlets – and having some success. Sales of eyewear via the web have more than doubled since 2007, and last year accounted for almost a tenth of the market, according to Euromonitor International, the market research company.” Read more.