TREND #1: BUSINESS IS UP…SO IS STRESS.

It was a good year for more than 70% of ECPs who report their bottom line rose year over year in 2022. Despite mostly positive results, 73% reported feeling stressed about business. Most pegged their stress level at 5.7 out of 10. That’s up from 4.6 in 2021, but not nearly as bad as the 6.5 out of 10 that ECPs reported in 2020.

TREND #2: PRODUCT POSITIONING…THE PUSH TO PREMIUM.

Higher-end product is getting the nod in all categories. Last year, practices reported that 25% to 30% of their frame inventory was in high-end product. That compares with 28% in 2021 and 26% in 2020. The same holds true in spectacle lenses, with ECPs reporting that premium product accounted for 51% of their PAL sales in 2022.

TREND #3: TECH TALKS…AND SELLS.

Covid-19 has had a lasting impact on remote work. Forbes reported that 25% of professional jobs would be remote by the end of 2022 and that number will continue to rise in 2023. This reality has had a big impact on spectacle lenses and explains why two categories are seeing quantum leaps in usage. Nearly half (47%) of ECPs said “computer glasses” were their fastest-growing category in 2022. That’s up from 38% a year earlier. Another quarter (26%) gave the nod to Rx blue light eyewear.

TREND #4: FAITHFUL OR FICKLE? VENDOR RELATIONS.

Survey respondents currently work with an average of 10 frame companies. During 2022, 21% of ECPs added more frame vendors, while 32% eliminated some. Going forward, 31% report plans to decrease the number of vendors with whom they partner.

The reputation of and relationship with a vendor play a big part in determining whether to continue or cut relations. When it comes to working with spectacle lens companies, for example, 42% of respondents said a vendor’s reputation is very important, and 26% also cited their relationship with that vendor as very important.

TREND #5: PRICING PATTERNS…THE PANDEMIC’S LINGERING IMPACT.

Adjustments in product positioning are also reflected in pricing trends. In the contact lens category, for example, 65% of respondents reported that they charged more for the same product in 2022 than a year earlier. They’re also still seeing the uptick in sales that began two years ago with more patient requests for contacts due to Covid-related mask and fogging issues.

The pandemic also impacted sunwear sales, with 27% of ECPs reporting they have experienced increased demand since Covid began. As categories shift in popularity and/or pricing pressure, their contribution to the bottom line shifts as well. Take sunwear, for example: While ECPs report that 18% of total dispensary sales are attributed to this category, 27% of them also say they’ve seen an increase in sunwear sales since the start of the pandemic.

TREND #6: SOCIAL SOARS…FREQUENCY DOESN’T.

Three-quarters of ECPs (76%) use social media to market their business. Facebook is overwhelmingly the outlet of choice at 76%. Instagram is second at 45%, and Twitter ranks third at 14%. The majority of ECPs (51%) using social media post anywhere from once a week to a few times a month. That frequency is down from a year ago when 19% of ECPs reported posting a few times a day, with another 30% posting once a day. Perhaps staffing shortages are also taking a toll here.

TREND #7: ONLINE...BEAT ’EM OR JOIN ’EM?

Four out of 10 practices surveyed report they’re going head-to-head with their online competition by selling both plano sunwear and contact lenses online. And, those website sales totaled approximately 14% of their optical product revenue in 2022.At the close of 2022, 17% of ECPs surveyed weren’t selling anything online. However, 84% reported they’ll be doing so within two years.

Some ECPs have raised prices to compete with their online competition. More have lowered them. Here are the steps they took in 2022.

TREND #8: THE BIG PRODUCT CHALLENGE? COST.

Asked about their biggest challenges in terms of the jobs they produce, cost tops the list for both frames and lenses. Here are the five biggest problems ECPs report facing in each of those categories.

TREND #9: IN-OFFICE FINISHING STAYS TRUE.

A substantial number of ECPs (41%) don’t do any in-office finishing work with spectacle lenses. According to EB’s just-released focus group, 44% of ECPs in that group don’t ever intend to consider it, either. Among those who do some finishing, however, the average is 25 jobs edged in-office per week.

TREND #10: FOCUSING ON THE WINNING CATEGORIES.

Consumers continue to spend, but what if there is a purchasing slowdown in 2023? How will practices react?

The majority of focus group respondents said they’d emphasize their current fastest-growing categories, ranked in order as Rx sunwear, computer eyewear, Rx sports eyewear, and high-tech wearables. That’s a big change from 2021 when kids’ eyewear came out on top.

Looking further ahead, respondents said that over the next 24 months, they expect to see their greatest growth in two spectacle lens categories: progressives and computer eyewear.

The bottom line? Track trends and stay up on category as well as product sales. What’s hot this month may be losing some sizzle six months from now.

EB is here to help by continually tracking trends and reporting on what’s new and next in ongoing focus groups and trend reports.

Join us here for a deep dive into the trends that will impact your business over the coming months.