17/11-05   -   Press releases

Online Prescription Eyewear Retailer

High street opticians are about to experience even more competition from online retailers as Specslab.com seeks a larger share of the £1.2 billion UK eye care marketplace. The company is launching an aggressive promotional partnership scheme throughout the UK and Europe to target consumers who need optical goods and would usually purchase them from high street opticians.

As the campaign begins, high street purchasers are made aware of the low prices they can obtain at Specslab.com by promotional crews who demonstrate Specslab.com services in town centres throughout the UK, working from highly visible sign-written Mercedes vehicles and ad trailers.

All promotional vehicles carry on board a sample range of ´own brand´ and ‘designer frames´ – with up to 100 different styles - so potential customers can try on the products and assess their quality. The vehicles also have WIFI connectivity and laptops, allowing crews to place online orders immediately if the customer has a prescription at hand.

Specslab.com offers prescription glasses from just 15 GBP per pair with a full 12 month money back guarantee and believes its prices are amongst the lowest in the market.

Specslab.com recently carried out a price comparison against rival online retailers using the industry standard own brand, metal, full rim frame fitted with a 1.56 (1.6) index lens, providing anti reflection and ultra violet protection together with a hard coating*. The results were as follows: Specslab.com 29.95 GBP; Myoptics.co.uk 45-75 GBP; PerfectSpecs.co.uk 75-85 GBP; SpecsOnTheNet.com 79 GBP; Budget Specs.com 80-100 GBP; Glassesonspec.co.uk £85; GlassesDirect.co.uk 85 GBP; BargainSpecs.com 90 GBP; Spex4Less.com 100 GBP; Specsavers.co.uk 141 GBP. Showing the significant savings that can be made by prudent online consumers, the surcharge for semi-rimless and rimless frames was found to vary from £25 and £45 at the lower end of the scale (Specslab.com) and 99 GBP to 169 GBP at the highest (Specsavers.co.uk).

Despite the recent trend for special offers such as ‘two for one’ deals on spectacles and contact lenses, market research suggests price remains the major motivator for more than two thirds of all consumers. Others select their spectacles based on reasons of style: thanks to designer licensing, specs are perceived to have a more fashionable image now than in the past. Specslab.com cleverly caters for both the price and style conscious consumer with its own brands and a hugely discounted range of designer frames - without compromising on the key factors of professional manufacturing, customer care and after-sales support.

David Newman, business development director at Specslab.com comments: ‘We intend to give popular retail outlets such as Spec Savers, Boots and Dollond and Aitchinson a run for their money by taking our product to traditional high street customers. The low pricing structure has been achieved by using marketing tools, such as our promotional partners.’

He adds: ‘In 2004 alone, Specsavers spent somewhere in the region of £14m on advertising, and this has to be reflected in the customer’s final purchase price. At Specslab.com, we provide value for money because our operating costs are realistic and we offer hard working individuals the training and opportunity to build their own promotional business. Incomes from this activity range from 25k to 120k GBP pa.

Specslab.com is currently experimenting with having qualified optometrists in its promotional teams who can carry out instant, free eye checks. The company is also offering low cost, home visit eye tests for elderly, disabled and infirm people who reside within each promotional team’s designated operating area.

• Details of the research methodology are available on request.
• (1.2 GBP Source: Euromonitor 2002/3 Market Report

Notes for editors
Specslab.com is a subsidiary of International Telecommunications Consultancy S.A. - or ITC S.A. as it is better known The parent company was formed in 1999 to provide consultancy services to the communications industry. It has grown considerably since then, creating several subsidiary businesses, and gaining involvement in a diverse range of entrepreneurial IT operations. ITC S.A. is based in Dubai and has 32 global consultants on board.

Specslab.com evolved in 2004 following ITC S.A.’s involvement with potential EU Accession countries advising on the commercial import / export implications of membership and FDI opportunities. ITC’s strategy was to understand fully each country’s production capabilities across a varied range of sectors and then compare these to existing member states to identify niche opportunities. Specslab.com addresses the over-production capability in the prescription eyewear sector.
Following contracts signed with optical practitioners throughout Europe, Specslab.com is launching local language sites in all European languages. ITC S.A. continues to work with various EU partners to create similar services throughout other sectors.