Bottom Line: 2010
A glance at some of what EB's readers told us about the challenges of the year and their hopes for years to come
By Stephanie K. De Long
| 2010… |
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| With the year almost over, we thought it fitting to take a look at some of the research conducted and presented by Eyecare Business in the last 12 months. Following is a glance at just some of what you told us about the challenges you have faced and, looking ahead, the opportunities you see. Don't miss follow-up surveys next year, where we'll trend your responses to questions we've posted during the past several years. |
| OVERCOMING BUSINESS CHALLENGES |
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"Stressing customer service" is by far the most common way respondents are attempting to overcome business challenges. Opticians are also very focused on re-assessing their inventory mix and offering quality over quantity. ODs are postponing some equipment purchases while investing in money- and time-saving equipment.
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OVERCOMING COST OBJECTIONS
Most popular response to cost objections is moving patients toward lower-cost options or discounting products. More opticians than ODs offer discounts to overcome cost objections. ODs are more apt to move patients to lower-cost options.
*Patient education/discuss quality of product, second-pair discount, rebates, package-pricing discount, stress service
Effect of Economy on…
Re-Use of Old Frames vs. Purchase of New
| REVENUES |
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Eyecare professionals realize the largest portion of their revenue from eyewear sales. Revenue by product category has not changed significantly over the past 12 months.
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Out-of-Pocket Costs to Patients
Sixty-four percent of eyecare professionals tell us that 20 percent to 60 percent of patients' payments are out-of-pocket (not covered by insurance).
Pricing Strategy
The vast majority of ECPs plan to keep prices stable over the next year. Seventy percent of survey respondents say the economic slump has created a new brand of cautious consumer that requires a new selling story.
| Fastest Growing Products |
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Prescription sun products were found to be the fastest-growing product category, according to respondents. Results were similar for both optometrists and opticians.
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