Why you should care
Because 150 million Americans wear glasses, and that’s 150 million people overpaying.
According to the American Vision Council, Americans spend over $15 billion on eyeglasses annually. That does not include contact lenses. It turns out, though, that much of that $15 billion is pure profit. Eyeglass frames are routinely ranked as one of the five most marked-up products anywhere. So before you go to LensCrafters again, take a look at these figures:
Base cost: What it costs to manufacture a pair of frames (even designer models) in China.
Wholesale price: What stores pay on average for the frames that they sell to you.
Retail price: The average cost you’ll pay for a pair of designer frames.
Online price: The approximate price that Warby Parker, Firmoo, Mezzmer, Eyefly and other online companies charge for the same $300 frames.