BUSINESS Cost-Cutting Measures by Patients and Stubborn Inflation Numbers Continue to Affect ECPs’ Business Prospects in the Latest Q3 ECPulse Survey From Jobson By Staff Tuesday, November 7, 2023 12:27 AM NEW YORK—Concerns about the economy, and specifically still high inflation numbers and its effect on patients/consumers’ behavior, were among the concerns within the most recent Q3 ECPulse Survey conducted in September 2023 by Jobson Optical Research. Some 79 percent of the ECPs surveyed said they have noticed patients are still trying to save money due to inflation, which does not seem to be budging. The new ECPulse Survey of eyecare professionals across the country was started by Jobson Research in June 2022, as a new quarterly research series which monitors a range of factors influencing ECPs' business. The Q3 2023 ECPulse report, conducted in September 2023, surveyed 388 ECPs. Respondents included independent ECPs as well as regional and larger (more than 20 location) groups. It examined general business trends, practice profitability comparability by month and quarter, a closer look at specific business trends, ECPs’ predictions for how 2023 sales will compare to 2022 and more. When asked in which areas patients were trying to save money, frames, spectacle lenses and contact lenses led the way at 91 percent, 68 percent and 60 percent, respectively. Trying to save money on contact lenses saw the biggest jump from 52 percent in Q3 2022 compared to 60 percent in Q3 2023. When queried about what impact the economy has had on practices, 34 percent of respondents said they were greatly impacted by the state of the economy versus 57 percent of respondents who said their practices were only slightly impacted by the health of the economy. Only 9 percent of respondents felt their practices were not impacted by the current economy. Looking ahead to the end of the year, 44 percent of respondents predict business will be up from 2022, 28 percent said business will be down in comparison to 2022 and 28 percent predicted business will be flat. These numbers were very similar to the responses from the June 2023 ECPulse Survey results. To download the Q3 2023 ECPulse Survey, click here. To learn more about the ECPulse Surveys, contact Jennifer Waller, director research and business analytics at Jobson Research at firstname.lastname@example.org or visit Jobson Research for more information and details.