Oct. 28, 2020 — VSP Global has announced the evolution of its hub for innovation. Formerly known as The Shop, the VSP Global Innovation Center is a physical space (based at The Cannery in Sacramento, pictured) and corporate division, which will focus on creating innovative products, services, and experiences that respond to global market shifts with the goal of advancing the eyecare and eyewear industries.
"The Global Innovation Center is all about harnessing VSP Global’s expertise and combining it with new technology and external partnerships to bring transformative products and services to our clients, members, and network doctors,” says Earnie Franklin, VSP Global’s chief operating officer. "Innovation is an important part of our 65-year history, and we look forward to using the invaluable insights we’ve gained in that time to ensure that VSP remains at the forefront of an ever-changing industry."
The Global Innovation Center will focus on four areas:
- Digital Supply Chain: Applying digital solutions to improve supply chain speed and fulfillment of products and services.
- Health Focused: Exploring new care models to meet patient access needs and optimize customer experience.
- Personalized Vision: Enabling data-driven products, services, and experiences to maximize value of eye care and eyewear.
- Smart Glasses: Leveraging the company's strengths to help grow the smart glasses category.
To align with the transformation of its innovation center, VSP Global, in partnership with research and data company CB Insights, has launched a “Futurist Report,” outlining consumer trends and predictions in health and wellness experiences. Among other findings, the report shares that “retailers, products, and services are differentiating by integrating experiences, which will elevate consumer expectations for cultural sensitivity, product customization, and brand promises.”
"Innovation for innovation’s sake is meaningless. At the VSP Global Innovation Center, we’re working to solve real industry challenges, and that includes identifying needs that may not even exist yet," says Ruth Yomtoubian, senior director of the VSP Global Innovation Center. "The Futurist Report provides our team with a comprehensive look at the consumer trends influencing and impacting our industry today and into the future."
Access the report here: vspglobal.com/dms-inline/pdf/futurist-report.pdf.