This Tracker Got A Make-Over!

When we launched this tracker, our goal was to monitor the optical industry through the pandemic. While the road ahead is still unknown, it appears we, as a nation, are moving forward.

Now, the tracker compares more than just week to week. The tracker now measures sales trends comparing pre-pandemic, during the pandemic, and post-pandemic.

We selected 1,500 optical locations that have been operating and reporting their sales to our partners, GPN and ABB Analytics, since 2019. We re-based the index to an average week in 2019. This new index base will be used as an arbitrary benchmark and assigned a value of 100.

GROSS REVENUE 3-YEAR TREND

Even though national optical sales declined last week (May 24-30), overall gross revenue generated during Week 22 of this year still remained substantially higher than during the comparable weeks of both 2019 and 2020. This is primarily due to Week 22 of 2020 being in the midst of the pandemic and because Memorial Day fell within Week 22 of 2019.

BUSINESS METRICS

All categories of optical sales declined last week (May 24-30) at nearly comparable levels. Three categories (gross revenue, frame units, and lens pairs) fell a substantial -4 index points, and exams/refractions declined by -3 index points over the course of last week. Contact lenses lost only -1 index point in sales. These decreases in optical sales occurred even while 98 percent of practices are open and 76 percent observe a decrease in the amount of COVID-19 cases in their area, according to the latest Jobson Optical Research Coronavirus ECP Study.

SNAPSHOT

Following a brief uptick in some optical sales categories, all were down by varying degrees this past week, with most decreasing substantially by either -4 or -3 index points. These declines in optical sales occurred even while three-quarters of survey respondents indicated that more than half of their staff have been vaccinated and practices continue increasing their allowable walk-ins (vs. appointments only), to 37 percent for eye exams and to 69 percent for dispensing / eyewear purchases, according to the latest Jobson Optical Research Coronavirus ECP Study.

*The index baseline was developed by Jobson Research from total sales from an average week in 2019. This index baseline is equivalent to a score of 100. All other time periods going forward are calculated as a percent increase or decrease from the 100 baseline index of that period. This index is intended to show directional and magnitudinal change that the market is experiencing. Actual index scores are arbitrary meaning the baseline of 100 is simply used as a benchmark. Jobson Research shall not be held liable for any use or misuse of the data described and/or contained herein.

Please note that practices that use practice analytic systems tend to skew a bit larger and have higher revenue than practices that do not.

Source: GPN/EDGEPro and ABB Analyze contributed anonymous sales data used to determine gross revenue, exams/refractions, frame units, lens pairs, and contact lens boxes. Data was collected from approximately 1,500 independent eye care practices.

For more information from Jobson Research contact jwaller@jobson.com,

you may also reach out to GPN/EDGEPro and ABB Analyze directly.