buyer's forum

The Philosophy of Pricing

Amy Spiezio

Taking control of your frame boards for the best returns and customer satisfaction might mean making some changes along the way. This year, the respondents to Eyecare Business' annual Market Trends Survey reported that some of their biggest changes would be to revamp the pricepoints of the products they carry. Not a single region in the nation—Northeast, South, Midwest, and West—reported that their pricing strategies would remain unchanged. In fact, nearly 60 percent of respondents have decided to expand their frame pricing plans for 2011.

- GOING UP: Nationally, 19 percent are adding higher-priced products only. In a market where value is seen as more than a price tag, high-end items speak of quality and provide a reason to buy one of the last truly affordable luxuries in the fashion marketplace.
- GOING DOWN: Despite an eye for quality, the market downturn has undeniably created a demand for low prices, particularly related to maximization of healthcare benefits. Items with a lower price tag help patients see that they have options and can buy new even when their budgets are tight. About 14 percent of U.S. ECPs are expanding in lower-priced product.
- SOMETHING FOR EVERYONE: Nearly 26 percent of respondents who are making changes are opting for both additional higher- and lower-priced products, truly offering something for everyone.