- The retail optical industry in the US includes about 14,000 retail stores with combined annual revenue of $7 billion. The retail industry is highly fragmented but concentrated at the top: 90 percent of companies operate a single store, but about a dozen chains operate more than 100 and account for half of industry revenue.
The profitability of an Optical Retail Store depends on efficient operations and whether or not they have an optometrist practices in addition to selling glasses and contact lenses.
The Optical Retail industry is one of the few industries which offer products & services spanning from being a necessity to luxury – all depending whether you need glasses / lenses for reading or shades.
Fast changing fashion trends, an extremely cost sensitive consumer, stiff competition from departmental store with well-appointed optical departments; as well as general merchandise discounters such as Wal-Mart, exert additional pressure on the optical retailer to remain competitive.
As a business, an Optical Retailer is faced with the challenge to:
- Keep in touch with the fashion industry – ensuring that the stores have the right mix of styles, colors and sizes
- Manage inventory levels cautiously and judiciously
- Periodically run promotions & campaigns to increase footfall and decrease slow moving items
- Remain closer to the consumer and analyze his needs, preferences, and overall sales trends.
Operationally the retailer is faced with the challenge to:
- Maintain and manage Optometrist Setup and Scheduling
- Track Prescription and Non- prescription Sales
- Schedule Exam Appointments
- Advanced After Sales Service Module
Such a balance requires an integrated business management solution that allows flexibility to cater to the diverse & unique demands of Optical Retailers. An Optical Retail Software that seamlessly integrates all business processes from the POS at store to the planners at the Head Office lowering the overall cost of operations, simplifying expansion and enabling the Optical Retailer maintain his unique proposition and positioning.
