Monday, December 16, 2019 12:30 AM
It’s been 50 years since the renowned economist Milton Friedman published his signature 1970 essay, “The Social Responsibility of Business Is to Increase its Profits,” in The New York Times. The world has certainly changed over the past five decades, as has the view of the role business should play in a more socially conscious, consumer-empowered world. But one thing has remained fairly consistent: businesses are powerful. Indeed, perhaps more powerful than ever, according to a Kantar Consulting report, “Purpose 2020 – Inspiring Purpose-Led Growth.”
Monday, November 11, 2019 12:30 AM
NEW YORK—We are living in an age of specialization. Today we can get virtually anything we want from a business whose only business is delivering a certain type of product or service, whether it’s a vegan restaurant or Victoria’s Secret. Optometry, like many medical professions, is being reshaped by the specialization trend. Modern living has changed the way we use our eyes, and many optometrists, particularly those in private practice, have responded by developing specialties to address specific patient needs. Some specialties, such as pediatrics and low vision, have been long established in optometry, while others, like dry eye management and neuro-optometry are more recent additions. Yet all seem to be benefitting from the advent of new technologies and treatment methods which are bringing exciting changes to vision care.
Monday, October 21, 2019 12:30 AM
From health care to retail, data has become an invaluable resource for businesses and practitioners. It’s what many see as the key ingredient to better meeting, and exceeding, consumer or patient expectations, and it provides a critical yardstick for measuring success across a variety of metrics. In eyecare and optical retailing, the growing interest in data also has led to an increase in the number of options partner companies are developing that collect, track and analyze the data for ECPs to draw upon to manage their practice. From software and tech companies to alliances and large retail groups, a dashboard or other analytical tools have become part of the de facto offering to member ECPs.
Monday, September 16, 2019 12:30 AM
NEW YORK—The optical lab business, at its most elemental, has always been a numbers game.
Running a lab, though, is a complex undertaking that involves more than simply dollars and cents. It also about the number of prescription jobs per day it can produce, and the percentage of those jobs that are rejected because they don’t meet quality control standards. It’s about maintaining a job average that’s calculated based upon production yields and the average price per job. It’s about the cost of capital equipment, consumables, overhead, labor and dozens of other budget line items.
Monday, August 12, 2019 12:30 AM
In the world of optical retailing and eyecare, the arrival of the year 2020 might be seen as the best of times for the profession. Demographics, especially an aging population, higher incidence of diseases that may impact eye health (such as diabetes), and new areas of practice focus—namely myopia and blue light protection—are opening up avenues of opportunity for eyecare professionals.
Monday, July 15, 2019 12:30 AM
NEW YORK—We hear the term “influencer” a lot these days. It’s frequently used to describe celebrities, media personalities or the latest YouTube stars whose words and actions are magnified through the lens of social media. They connect with millions of people, but their impact is often fleeting, as our attention shifts to the next big thing.
Monday, June 10, 2019 12:30 AM
Many different forms of ocular telemedicine—also referred to as ocular telehealth—have emerged in the past few years. They create a dynamic but fragmented market in which different business models and service offerings compete for consumer dollars and buy-in from eyecare professionals. The proliferation of ocular telehealth options and the growing investment in the category leaves little doubt that it is gaining momentum, VM has learned for this special Megatrend report.
Monday, May 13, 2019 12:30 AM
NEW YORK—New attitudes among consumers toward purchasing in general and the rise of digital exploration and purchasing may have upended the general retail marketplace last year with many store closures and reorgs. But as the U.S. economy held its own, the optical industry’s total sales rose just slightly and remained stable.
Monday, March 11, 2019 12:30 AM
Let’s get personal. That’s what today’s patients and consumers are telling the brands and health care professionals they do business with. This means they want convenient options, of course, but it also means going the extra mile with a special fit, customized communication tools and, perhaps, even a curated assortment of options that consider their preferences and past product choices.
Monday, February 11, 2019 12:30 AM
NEW YORK—Influencer marketing has seen immense growth as social media platforms evolve, metrics become more sophisticated and brands lean toward creating more authentic connections with consumers. The continued dominance of influencers shows no signs of slowing down as a favored marketing tactic among brands both large and small.
Monday, January 21, 2019 12:30 AM
As recently as a decade ago, a mention of digital eye strain (DES) would have most people scratching their heads. Today it’s ubiquitous, a condition of modern life. From toddlers to millennials to seniors, from city dwellers to shepherds in remote mountain villages, no one is immune from DES and its effects, which include dry, irritated eyes, blurred vision and assorted aches and pains. More than half of American adults suffer adverse effects from overexposure to screens, according to The Vision Council, which coined the term digital eye strain.
Monday, October 22, 2018 12:15 AM
From Fitbit-type performance metrics to likes on Instagram and Facebook, Americans are infatuated with checking their status and/or tracking progress across various activities. While this tracking trend may be more common across personal activities, it’s becoming fairly standard in professional dealings, as well, to measure all kinds of performance. As the adage goes, you can’t manage what you can’t measure.
Monday, September 17, 2018 12:30 AM
NEW YORK—In today’s ultra-competitive service economy, the pressure to deliver products and services when, where and how consumers want them—the so-called “Amazon effect”—impacts all suppliers. Eyecare professionals and optical retailers are feeling the heat, and so are the labs they depend on.
Monday, August 13, 2018 12:30 AM
NEW YORK – Having the wherewithal to successfully compete as an eyecare professional and a business person can be a daunting challenge, particularly for independents.