How new tech and strategies are disrupting the eyewear market

Eyewear has been growing in demand for various reasons, ranging from an increase in eye conditions to a bigger interest in fashion.

In 2023, the UK's eyewear market is set to reach a value of £4.59 billion and will grow at an annual rate of 0.43% from 2023 to 2027.

While big names in the industry are still going strong, more startups are also emerging. The innovative, accessible solutions these businesses are pursuing have been making waves in the eyewear landscape, changing the way people shop for glasses and sunglasses.

Here’s how new tech and strategies are disrupting the eyewear market...

1. Product versatility

The eyewear market is one that can easily become saturated, and it can be difficult to find a competitive edge that allows brands to stand out. 

But, by keeping an eye on current trends and needs in the market, startups in this sector can meet consumer demands and find their niche. 

The Dorset-based Startup Times showcases how a common eyewear struggle, like broken arms, can become a jumping-off point for an innovative solution. Its adventure sunglasses have no hinges to break and don’t fall off. The flexible strap keeps them on the face, and it can double as a neck strap since the shades can fold flat to be hidden under a shirt or jacket when not in use. The business also recently hit its funding target, making it possible to more quickly manufacture and ship these sunglasses. Constant innovation from startups like this allows new and unique products to be developed and hit the market, even in such a vast industry as eyewear.

Virtual try-ons using augmented reality filters can simulate how glasses or sunglasses may look on a customer’s face, and this can easily be done using a smartphone or computer camera. 

Some retailers allow customers to try on glasses at home. Glasses Direct’s unlimited free home trial enables people to have four frames of their choice sent to their homes, and they can keep them for up to seven days to sample each one. A free home trial helps boost confidence when selecting a frame and minimises the need for a return or refund.

3. Accessible care

New tech and strategies in the eyewear market aren’t just bringing new products to the scene or improving the shopping experience. They’re also making eye care more accessible. 

When WALDO was established in 2017, the startup’s aim was to provide high-quality contact lenses in an accessible and affordable manner. 

To achieve its goal of reaching more people with its services, WALDO acquired the mobile platform Placid0 to develop EASY, an eye assessment mobile application. The app will work closely with optometrists, eye doctors and in-store opticians to close the data gap between patients and their eye care professionals. 

By integrating familiar technology—like smartphones—into eye care, people can easily connect with essential eye services, making eye care a more significant part of everyday life.

Eyewear and eye care startups are constantly using new tech and strategies to improve business models, influencing and shaping the market in turn. 

However, to continue bringing important products and services to a growing consumer base, they need the right support to help them keep going.

Transmit Startups is working with the Start Up Loans company and their Business Support Partners to deliver Start Up Loans in the UK, helping them reach their funding goals.

• Borrow £500 - £25,000, customised to your needs

• ...and take a second loan, if your business needs it

• Funding specifically available for businesses that are not trading, or those that have been trading for less than three years

• Applications open to all those age 18+ based in the UK - whether you are working full-time, part-time or are currently unemployed

• Professional advice and mentoring given free of charge.