Eyecare Business

AUG 2016

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EB 64 E y e c a r e B u s i n e s s . c o m August 2016 F E A T U R E A M E R I C A N D E M O G R A P H I C S B U I L D I N G B U S I N E S S . "We're starting a myopia control clinic to help increase revenue lost by participating in vision plans." —SOUTH ECP THE SOUTH: THE BIG PICTURE So, how does Dixie look outside the optical realm? ✔ JOBS. Though the South still has the second-highest unemployment rate in the country for the year, the good news is that its numbers have dropped—from a high of 5.1% in January to a low of 4.8% in May, according to the Bureau of Labor Statistics (BLS). ✔ COSTS. The South saw an average Consumer Price Index of 230.3 in the first quarter of 2016, a 0.71% increase over late 2015, according to the BLS. ✔ REAL ESTATE. First-quarter vacancy rates in the retail sectors of both the South Atlantic and Southwest came in near the top of the nation, at 9.7% and 10.9% respectively, according to Reis, Inc. Asking rents were $17.75 per square foot in the Southwest vs. $19.19 per square foot in the South Atlantic. NORTHEAST SOUTH MIDWEST WEST SOUTH: The Optical Picture in Focus SOUTH TH SOUTH WHAT IS YOUR PRACTICE'S FASTEST-GROWING CATEGORY IN SPECIALTY CARE? 60% 50% 40% 30% 20% 10% 0% KIDS SPORTS DIGITAL/ BLUE LIGHT SUNWEAR 51% NORTHEAST NE 40% 37% 33% 47% 43% 33% 22% 20% 13% 11% 10% 0% 13% 16% 7% SOUTH SOUTH S S WHAT TYPE OF LENS MATERIALS DO YOU USE THE MOST? HIGH INDEX TRIVEX POLYCARBONATE PLASTIC 80% 70% 60% 50% 40% 30% 20% 10% 0% 78% 60% 56% 50% 35% 23% 16% 8% 19% 11% 9% 8% 9% 6% 6% 5% SOUTH S S S HOW OFTEN DOES YOUR BUSINESS POST TO SOCIAL MEDIA? NOT AT ALL MONTHLY WEEKLY DAILY FEW TIMES/ DAY 35% 30% 25% 20% 15% 10% 5% 0% 40% NE 40% 38% 34% 22% 35% 34% 31% 23% 28% 22% 15% 14% 19% 9% 9% 5% 0% 0% 3% 3% SOUTH SOUTH SOUTH S S MY FRAME PRICING HAS... REMAINED THE SAME EXPANDED TO INCLUDE HIGHER PRICE POINTS EXPANDED TO INCLUDE LOWER PRICE POINTS EXPANDED TO INCLUDE BOTH 60% 50% 40% 30% 20% 10% 0% 53% 51% 45% 45% 31% 26% 21% 20% 27% 23% 23% 13% 13% 6% 3% 0% SOUTH SOUTH SOUTH S WHAT TYPE OF FRAME IS CURRENTLY MOST POPULAR IN YOUR PRACTICE? 80% 70% 60% 50% 40% 30% 20% 10% 0% PLASTIC METAL RIMLESS 78% 74% 65% 56% 19% 15% 15% 0% 0% 3% 6% 6% METAL/PLASTIC 20% 19% 15% 12% SOUTH S S S HOW DID 2015 SALES COMPARE WITH 2014? UP DOWN FLAT 80% 70% 60% 50% 40% 30% 20% 10% 0% 80% 71% 64% 53% 21% 16% 6% 6% 31% 24% 15% 14% SOUTH S S

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