#1 Reason your eyecare practice may go out of business in 5 years.
As I scroll through Instagram and Facebook each day, I can’t help but notice the constant emergence of new online optical retailers. Yet it’s still a mystery to see independent eye care professionals (ECPs) lagging behind in this evolving landscape. Yes, we “get it”—it seems unprofessional to you, and you question if the proper measurements can be taken or used for these online purchases. What about frame fit, adjustments, and all the important elements that go into a proper dispense? Guess what? Shoe retailers, clothing stores, and any merchandise you’d think needs to be tried on thought the same thing, yet today are witnessing explosive e-commerce sales from their digital stores.
Meet your patients where they are, and at their convenience. That’s online!
What used to be the 3 O’s (opticians, optometrists, and ophthalmologists) is now the 4 Os. The introduction of this fourth "O"—online—should be a wake-up call. ECPs need to embrace this change, and it starts with having their own private label frames (can’t be shopped online at the competition), better websites, and embracing digital transformation through social media. Stop running a modern-day business with old business practices. Meet your patients where they are—and at their convenience. That’s online!
The Online Revolution
The success stories of companies like Warby Parker demonstrate that online retail can thrive without sacrificing quality or customer care. They’ve disrupted the traditional eyewear market, offering convenience and accessibility that resonates with today’s consumers. Yet, many ECPs still cling to outdated beliefs that face-to-face interactions are essential for providing quality eyewear.
Stop running a modern day business with old business practices. Meet your patients where they are and at their convenience. That’s online!
Digest These Numbers
These figures highlight the rapid expansion of online eyewear retail, which underscores the importance for independent eye care professionals to adapt to the evolving digital landscape. What represented 21% of eyeglasses sales iin 2020 amounted to 26% in 2023. The gap is narrowing between online and offline.
The Reluctance to Adapt
I understand the hesitation. ECPs are trained professionals who value personal relationships with their patients. However, this mindset may be holding you back. The reality is that the optical industry is changing rapidly, and consumers are increasingly comfortable purchasing eyeglasses online. The argument that personal interaction is necessary to make glasses is becoming less convincing as online retailers continue to prove otherwise.
Blockbusters digital demise led to bankruptcy for failing to recognize market changes. Don't be the next Blockbuster
The Case for Private Label
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One of the most effective strategies for independent ECPs is to develop their own private label eyewear. This not only allows practitioners to offer unique products that reflect their brand but also fosters customer loyalty. By creating a distinct line of eyewear, ECPs can capture the attention of consumers who might otherwise turn to online retailers. It’s the perfect solution for hybrid business models or just minimizing the number of patients who shop the famous brands online because they're convinced they can find them cheaper elsewhere. NEWS FLASH: They probably can.
Learn From Other Industries
We’ve seen what happens when independent pharmacies fail to adapt to the digital transformation of their industry. Many have struggled against the rise of e-commerce competitors, leading to a significant decline in their market share. ECPs must learn from this example and take proactive steps to avoid a similar fate.
Embracing the 4th O
It’s time for independent ECPs to embrace the fourth "O" by integrating e-commerce solutions into their practices. Here are some actionable steps:
Yes, the emergence of online eyeglass retailers is a challenge, but it also presents a vast opportunity for independent ECPs. By recognizing the importance of the fourth "O" and taking actionable steps to adapt, they can thrive in this competitive market. Let’s not follow the path of independent pharmacies but instead carve out a new future for eyewearthat combines personal care with the convenience of e-commerce.
Embracing this change isn’t just about survival; it’s about thriving in an evolving landscape. It’s time for independent ECPs to step up and seize the opportunity that lies before them.
For more information on private-labeling: https://yourbrandeyewear.com
For tips on building a successful eyecare professional website: Read my thoughts entitled, "Your Website Sucks". https://www.dhirubhai.net/pulse/your-website-sucks-mark-graham-iw7jc/
Senior Business Consultant
2 个月Insightful!
An Ophthalmic Executive with vast work experience and a proven track record,
2 个月I agree
Passionate Sales Consultant representing exclusive independent brands and services to the eye care market in New England
2 个月Very informative
Doing things - Branding, Marketing & E-Commerce ??
2 个月Great post - I've been in the e-com optical space for nearly 14 years now. We've built and managed online stores for other ECPs as well as our own. The biggest hurdle to adoption is the lack of understanding how optical retail, both online and in-store, functions today. It is a different beast than it was 5-10 years ago. Those that can grasp and respect this will do great in the next 5-10 years.
Director of Sales; ACEP, USA: Trylive POP, SmartMirror
2 个月Very well said Mark