SUMMARY
The market has 3 major players: the still dominant independent opticians, the leading optical retailer Pearle Opticiens and Hans Anders. In 2016, we see traffic dropped for another year, despite a growing market, and we had trouble attracting new customers. Hans Anders is a constant threat, new entrants a growing challenge. Pearle’s market share is under pressure. We only have communication to turn the tide. Two types of new customers are most valuable:
Customers of the independent opticians: the hardest to convince, but with the most growth potential for Pearle, in volume and value. They know they are currently paying too much but keep doing so, because they have a relationship with their optician, lack trust in retail, don’t want to take risks, fear that buying from Pearle would damage their social image
First time buyers: hard to identify and reach but with potential to become lifelong customers.Pearle’s challenge is clear: stop the decline in traffic and grow again. Growth needs to come from converting customers from the independent opticians and gaining a bigger share of first time buyers. Without selling out or harming profitability.
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