Understanding Optical Patient Expectations. Think Like A Patient! Think Like A Patient. What Do People Feel is Very Important in Choosing Eyeglasses?

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1 Understanding Optical Patient Expectations Edward De Gennaro Midlothian, Virginia Ed De Gennaro Director of Professional Content First Vision Media Group 1 2 Think Like A Patient! 3 4 Think Like A Patient Why are they here? Super duper doc On their HMO plan Eye disease Well eye exam Want glasses, cl s You re the cheapest What Do People Feel is Very Important in Choosing Eyeglasses? 6 1

2 What s important? MARKET RESEARCH FINDINGS Many Lifestyle / Experiential Vision Needs Are Not Being Met Percent ranking as very important DRIVING COMPUTER Comfort or fit of eyeglasses Strength or type of Rx Durability of eyeglasses Type of work I do How I look wearing glasses Hobbies or recreation Safety features Cost of eyeglasses Night vision is inadequate for driving Difficulty seeing at night LEISURE Eyestrain, irritation tearing or burning. Glare or reflection problems. SPORTING Warranty, repair, refund policies Recommendation from eye doctor Having vision coverage to help cover cost Perceived quality of a brand of eyeglasses Wanting features or options Wanting frames that are fashionable Wanting glasses made of new materials Types of glasses family / friends wear A well known designer frame brand Noticing advertising about eyeglasses What Do 27 Consumers Feel is Very Important in Choosing Eyeglasses? TV viewing is important Reading is important Social dancing Object to the look of glasses Hunting Fishing Target shooting 7.1 Billiard, snooker, pool Changing attitudes towards spending If you asked a patient what they thought about the eyewear shopping experience, what would they say? Compared to their parents generation, consumers today see shopping as being less enjoyable and having less social value 8 of dual-earner parents wish they could reduce their shopping time 0 say that shopping adds stress to their lives 61 of consumers claim convenience is the number one reason why they choose to shop at a particular store 9 Dispensing Eyeglasses Too Many Decisions Too Confusing Takes Too Much Time How long (how many minutes) is the average eyewear selection process? 2 1 Avg. = 24 min. 13 Avg. = 12 min. M ale Fem ale 0 A ve ra g e tim e n e e d e d to A ve ra g e tim e n e e d e d to se le ct fra m e s se le ct le n se s Source: Transitions Optical 2

3 WHY DO THEY WANT NEW SPECS? What was the most important reason for purchasing prescription eyeglasses? Rx changed 71.8 Why do they want new specs? Frame damaged / lost Lenses damaged / scratched Spare pair needed / wanted To use employee benefit Wanted new look / style Other 0.4 No reason SOURCE: VCA SURVEY 14 VC Fashion vs Function Survey Report released Dec 08 (08 data) 7,00 surveys 7,394 returned 86.2 of consumers who purchased and regularly wear Rx eyeglasses see them as a medical necessity only 1.9 view eyeglasses as primarily a fashion accessory 11.2 view eyeglasses as being both a medical necessity and a fashion item VC Survey con t Among both groups, the fit of their eyewear is the most important factor considered when making a purchase Functional factors consistently outrank fashion factors such as durability, material, UV absorption, and lens color vs uniqueness, style, wardrobe compatibility and brand/designer name 1 16 Which consumers value the fashion/style/appearance of eyewear most? Women People under the age of 4 People from higher income households People who currently wear contact lenses People who have had a refractive surgery procedure People who intend to buy eyewear during the next six months Are you willing to pay extra money for a pair of eyeglass frames that are produced by a top-name designer? Among Respondents That Wear Rx Eyeglasses 60.4 not willing to spend extra money Similar to previous VC studies 7.9 would pay extra 31.1 would possibly pay extra Those that would pay extra Younger people, MVC, higher income people

4 Are consumers taking fashion cues from celebrities and the eyewear they wear? Only -7 of recent eyewear buyers were influenced by celebrities and their eyewear Same groups who favor fashion fall into this group How important is the brand and designer name? Most consumers value the functional attributes of eyewear more than the brand name or designer name Only 8 - of eyewear buyers explicitly mentioned the brand name or designer name Brand/designer name seems more important for sunglasses More important among the demographics that value the fashion aspect of eyewear 19 Think this market is small? In 12 (June), 68.4 million pairs of Rx eyeglasses were sold in the US About 18 billion dollars in total Rx sales in 12 Is optical product branding strong? Model 888 Model So what can you do about this? The brand is not primary, FABs are! Brands get their attention, FABs make the sale Use quality branded products they provide the best value Educate the patient about the brand s FABs Match FABs to lifestyle

5 Thanks For Attending!!! Edward De Gennaro Midlothian, Virginia (804)

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