Independent optician and optometrists tips for 2023
As independent optical businesses continue to operate in a tough economic climate, the ability to anticipate and respond to challenges and opportunities will be key.
Accelerated by the pandemic, practice owners have had to stay resilient and find ways to thrive, this will be equally as important in 2023. To help you make the most of the opportunities ahead we’ve put together our top 3 tips
- Affordable sustainability
Many independents have invested in sustainability in 2022 and plan to do more in 2023. One of the biggest incentives is changing consumer behaviour. Customers are increasingly choosing to live more sustainably and buy just what they need, driven by concern around the climate crisis and the rising cost of living. They’re also choosing brands that share their ethical and environmental values and ditching those who don’t. Embracing circularity is a key part of the shift towards sustainability, along with reducing waste. Consumers are choosing durable products that can be repaired and reused, rather than just recycled.
However, affordability is also one of the main barriers to consumers adopting sustainability. As the cost-of-living crisis continues to bite, consumers will be looking for more affordable sustainable products and services, along with more help and support around sustainability.
Small businesses such as independent opticians are well-placed to provide more sustainable options – from sustainability conscious suppliers, to trusted information and advice.
Top tip for 2023: Focusing on the deeper trends within sustainability, such as affordability, durability and circularity, will help you spot gaps and new opportunities to grow and connect with your patients. Remember, sustainability involves ethical factors as well as environmental ones. Consumers value brands that champion human and workers’ rights; as well as net-zero.
- Green supply chains
Optical suppliers will be expected to help meet brands’ sustainability targets. As the world moves towards net zero, optical brands are increasingly looking to green their supply chains. In the UK, 82% of FTSE 100 companies[1] now aim for net zero emissions by 2050.
Proving your credentials as a sustainable business will put you in a better position to be chosen as a green eyecare provider. In addition, many larger optical brands are committed to helping their suppliers become more sustainable, so you may not have to go it alone. For example, Alcon offers its customers a sustainability discount if practice’s reduce the percentage of returns. Sea2see design and produce optical frames and sunglasses entirely made with recycled marine plastic collected by fishermen. Eyespace has introduced the Eco Conscious range of frames, with a new certification classifying the acetate used as being fully biodegradable. Glaskar supplies an optic dispenser where patients can choose their own re-useable bottle, which they can refill themselves on visits to the practice, at no charge. This kind of sustainability incentive is likely to become a key trend within supply chains, as brands look to reach net zero.
Switching to environmentally friendly suppliers will make your business more sustainable, but that’s not the only benefit. It could also help you innovate, grow and future proof your business. For example, by introducing the next generation of sustainable materials into your products.
Top tip for 2023: Choosing suppliers with good eco-credentials will help you boost your ESG credentials by reducing your carbon footprint.
- Deeper digital transformation
The pandemic has accelerated the digitalisation of small businesses. Research by Sage[2] found that 8 in 10 SME’s now need digital tools to start, survive and grow their business – across all sectors and parts of the UK.
In 2023, technology can help small businesses navigate a range of challenges and opportunities. From improving customer experience and driving operational efficiencies, to using data for increased sustainability. However, there are a number of barriers to greater tech adoption, including lack of time, expertise and money to invest.
ONS data[3] shows that while we’re still spending more online than before the pandemic, consumers have also returned to shopping in-store. This makes it even more important for small businesses to deliver a hybrid customer experience, across multiple channels. Taking a deeper dive into e-commerce trends will help you reach new and existing customers, and spot gaps in the market. For example, social commerce, re-commerce, and subscription commerce are all expected to grow.
Top tip for 2023: The government’s Help to Grow: Digital scheme[4] could help and is now open to more small businesses. It provides free and impartial advice and a £5,000 discount to invest in productivity-enhancing software including e-commerce, customer relationship management and accounting software.
Where next?
The trends above are opening up new opportunities for independent practice owners. Taking a deep dive into the small business trends will help you identify potential gaps in the market. Data will be key. For example, search engine data can help you find the optical products and services customers are looking for. It can also help you spot challenges that your business could help solve. Alongside this, patient feedback data is a goldmine of information, helping you to improve your marketing, your products and services and identify emerging trends. This insight is invaluable, regardless of how big a practice you are.
2023 will be challenging but also full of opportunities for independent optical practices with the agility to respond fast to changing trends.
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