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A few months back the so called ‘Credit Crunch’ was
written off by many as a handy piece of alliteration to fill doom mongering
journalists’ column inches. Something that would only affect a few, and probably
nobody we knew.
Wrong. The economic
climate of high food prices, high fuel prices and rising inflation is leading to
a reduction in the amount of high street spending and that inevitably includes
the optics sector. The bottom line is our patients are feeling the pinch and, in
Eyeplan’s recent experience, independent opticians are starting to report
quieter practices and an inclination amongst patients to ‘make do’ rather that
spend on new eye wear. Spectacles in particular are considered a deferrable
purchase and this deferring attitude is starting to be felt in the market.
For the independent sector to remain healthy
there is a need now to address the issues created by the poor economic climate
(in addition to those created by the increasingly aggressive competitive
landscape). Even if the effects have
not yet been felt we can be reasonably confident that they will be in the next
few months. What independent
opticians should be considering now is the strategies that they will adopt to
secure their patient loyalty and their practice income. Eyeplan has been in the
business of doing exactly this for 10 years now.
A regular, contracted, monthly payment for eye care from
patients is an excellent means of both securing income and loyalty. In addition;
as a result of the ‘value exchange’ that can be established with patients,
Eyeplan improves dispense rates and dispense values. When the pinch is being felt, the
value for money on spectacles and lenses that can be offered by operating a care
scheme, such as Eyeplan, is very much appreciated by patients and can often mean
the difference between a dispense and a deferred purchase, or loyalty and
‘shopping around’.
Certainly times ahead for both the independent opticians and
the companies that support them are set to be challenging to say the least.
Whilst it most certainly is not yet time to panic, it is time to seriously
contemplate securing the future. Regular, secure monthly income for the
provision of eye care has to be part of that future.
Eyeplan has enjoyed significant growth over the last 12
months in terms of both opticians adopting the Eyeplan Business Model and
patients becoming members. The value
of contracted income is now widely recognised and acknowledged in the
independent optics sector and with the economic climate and forecast as they are
the case for schemes such as Eyeplan has never been stronger.
One word of advice that Eyeplan will offer is this; Eyeplan
is not a ‘quick fix’ to a short term problem but a strategy whose benefits can
take time to be felt. The economic
situation we might find ourselves in means procrastination is no longer an
option!
Eyeplan will be
exhibiting at the Independents Day event at the
National Motorcycle
Museum on the 3rd July.
By Chris Clemence
Commercial Director, Eyeplan Ltd.
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