LOOKING TO THE FUTURE
THE FUTURE, FOR EVERY KEY RETAIL CATEGORY
What does the 2017-channeling crystal ball predict for the main optical product categories in 2017? To get a clearer picture of what the new year may hold for optical retail sales—and to give you a stronghold on business planning for 2017—we checked in with three experts who weigh in here on the outlook for optical frames, spectacle lenses, and contact lenses.
BY STEPHANIE K. DE LONG
Bonus Intel
Interested in making an investment this year and want to know how the equipment category stacks up for 2017? Check out the predictions for this optical category by tuning into our Web Exclusive on the subject: eyecarebusiness.com/webexclusives.
RETAIL PRODUCT CATEGORY: OPTICAL FRAMES
Category Expert: Meera Dua, senior director of product, Luxottica Retail
MCM optical style MCM2626A from Marchon
2017 Prediction
With the introduction of online frame sales, customers have many more options available to them now when it comes to selecting their eyewear.
It is, therefore, more important than ever to have a well-balanced assortment of frame shapes, colors, and sizes.
That assortment also needs to be merchandised effectively so that there are a variety of choices from which customers can choose. Storytelling can help bring this to life.
Materials + Millennials
Acetate will remain in 2017, but we will see metal growing in popularity, too, as we move into next year.
That’s especially true given the popularity of double-bridge styles continuing to increase with the millennial customer base. Various shades of gold and gunmetal will be seen in that shape.
2.6%
Overall, the dollar volume of frames sales from June 2015 to June 2016 was up 2.6%. The only category that experienced a decrease in year-over-year sales was the
department store segment.
Source: The Vision Council
2017 BUSINESS TIP
“Look at everything through the eyes of your customer. Listen to what they are saying—direct feedback, surveys, social media, etc. All of these tools can help you build your business and ensure they stay a customer for life.”
—MEERA DUA,
SENIOR DIRECTOR OF PRODUCT, LUXOTTICA RETAIL
Shapes
In addition to the double-bridge styles, rounds will continue to be successful in certain brands for the 2017 consumer. Look, as well, for cat-eyes to fuel growth.
Trending Colors
While black and tortoise will continue to be top-selling colors, pops of color continue to be important and a key driver in drawing customers to the frame boards and getting them to try on more product.
• MEN. We see the continuation of the translucent gray trend for men into 2017.
• WOMEN. Look for twisted tortoise colorations with mixes of blues, purples, and greens for women.
RETAIL PRODUCT CATEGORY: SPECTACLE LENSES
Category Expert: Mike Vitale, technical director and Lens Division liaison, The Vision Council
The new Tribrid material from PPG is a hybrid of Trivex and high index
Image courtesy PPG Industries
2017 Prediction
When it comes to the current state of spectacle lenses, materials are pretty stable at this time. Looking ahead, however, we are seeing some “hybrid” materials being released that feature increased index of refraction as well as properties for filtering specific wavelengths of light.
Coating Advances
Where we should continue to see growth is in the coating technology arena. We should definitely expect to see increased market penetration for high energy visible light filtering technology. Specific filter technologies for low-light conditions are starting to show up in the marketplace as well.
Driving Dollars
Digital progressive lenses will continue to drive the increase in dollar sales. The lens design technology goes well beyond progressive lenses, however.
You will also see an increase in digital single-vision lens sales. Having single-vision lenses designed uniquely for the patient will give them the “Wow” factor in the same way it has done for progressives.
4.2%
In terms of dollars, sales of spectacle lenses rose 4.2% for the year ending June 2016. The biggest growth came among independent practices (three locations or fewer), whose reported lens sales were up 5.2% from a year earlier.
Source: The Vision Council
2017 BUSINESS TIP
“As an educator, I try to tell ECPs to experiment with various lens designs and coatings. Although it’s great to partner with their supplier, I also suggest they occasionally try new products from other suppliers to see what best meets customer expectations.”
—MIKE VITALE,
TECHNICAL DIRECTOR, THE VISION COUNCIL
Digital Trends
As for digital trends, I am not sure I would say that growth is coming from digital lenses unless we are talking dollars. Digital lens growth does continue as more labs invest in the technology needed to process the newer digital lenses.
Also, more lens manufacturers are releasing their new lens designs in digital technology only, and are not building inventories of what are referred to as traditional progressive lenses.
RETAIL PRODUCT CATEGORY: CONTACT LENSES
Category Expert: Clarke D. Newman, O.D., FAAO, Plaza Vision Center, Dallas
New technologies are providing expanded contact lens options
2017 Prediction
I have a specialty contact lens practice in Dallas and have been in private practice there since 1986. I am the chair of the AOA-Federal Relations Committee and a diplomate at the Academy of Optometry in the section on cornea and contact lenses.
I see a couple of advances ahead that have to do with scleral rigid lenses and soft contact lenses, with some one-day materials, primarily.
Expanded Options
What we are going to have is expanded options for treating presbyopia and dry eye, plus some new specialty designs. That means more technologies available to the average practitioner who treats patients who have distorted eyes.
The other thing I think that is going to be a big deal in either 2017 or 2018 is the FDA approval for myopia control and with corneal molding designs. They have already laid the groundwork for that. There is a pretty good mix of organizations behind this, so we’re heading in the right direction.
7.6%
The global contact lens market will experience a 7.6% compound annual growth rate between
2016 and 2024.
Source: Transparency Market Research
2017 BUSINESS TIP
“The best practice management tip is to be an expert. That will create a referral network and help you build a contact lens practice by bringing patients to you.”
—CLARKE D. NEWMAN, O.D., FAAO,
PLAZA VISION CENTER, DALLAS
Reducing Dropouts
The impact of improving the options will be the elimination of some of the issues that have caused patients to drop out of contact lenses, like dryness and presbyopia. This will impact prospective contact lens wearers on all ends of the age spectrum—from young wearers getting into contacts to presbyopes staying in them.
To grow their practices, eye-care professionals will have to be aggressive in prescribing technologies like scleral and multifocal contacts. It’s really a partnership. And, for their part, the companies and their surrogates have to be upfront and out front to get these products known to the public.