Optical Industry Purchasing Up Slightly

While purchasing activity for general retail goods is moving up significantly from 2009 levels, purchasing activity for the optical industry is only increasing slightly in response to the continued weak improvement in the economy, according to the latest VisionWatch Economic Survey, just issued by The Vision Council in a report to its members.   The October 2010 survey of 9,599 consumers about their general and eyewear purchasing habits reflects results largely the same from the VisionWatch/Vision Council April report.

There continue to be certain demographics (men, residents of the Northeast US, Americans from higher income households, and Americans with managed vision care coverage) whose eyewear purchases have been less affected by the state of the economy, the report noted.  “Unfortunately, the purchasing activity of the two main demographic groups that drive the eyewear industry in the U.S.—women and Americans over the age of 45—continues to lag behind other consumers as a result of the weak economic recovery.

“A majority of American consumers (62.5 percent) are concerned about both the current condition of the U.S. economy and the future prospects of the U.S. economy,” the report stated. “With regard to eyewear purchases, consumers still seem to be most concerned with “losses/declines in their personal savings, retirement accounts or stock portfolio” or “rising unemployment.” Younger Americans, and Americans from lower income households, reported that they are more concerned with rising prices and the unemployment rate when considering eyewear purchases, while older Americans and Americans from higher income homes are more concerned about declines in the stock market and losses/declines in their personal savings, retirement accounts or stock portfolio.

Source: Vision Monday

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About Arthur De Gennaro

My friends call me Art. Welcome to my blog. In this space you’ll find information and comments on the ophthalmology world, the optical industry, the hearing industry and medical practice management. My intent is to provide information you can use to improve your business and your own performance. Please visit often and feel free to join the discussions by leaving comments.

You can learn more about me and my consulting company, Arthur De Gennaro & Associates, LLC by visiting my web site www.adegennaro.com

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December 2010

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