Here’s a couple of numbers to contemplate:
U.S. per capita consumption of footwear – $145.46. Every man, woman and child in the U.S., on average, invests this much money, each year, for shoes. That’s a market of $44.3 billion. And that doesn’t even include the medical side of feet, like podiatry, etc.
The U.S. Eyecare Market is $28.6 billion. That means that every man, woman and child in the U.S. invests about $94.70 in their eyes and eyewear.
OK, so some simple math says that we consider each foot worth $72.73 a year but we only value each eye at $47.35. Now, if we want to match the footwear industry, we can accomplish it by two routes.
a) we can convince the consumer that they’re eyes are at least as valuable as their feet or;
b) we can ask our patients if they will fore-go vision in one eye (therefore, about equalizing their investment on a per unit basis).
What’s wrong with us that we can’t convince the consumer that their eyes are at least as important as their feet?
What might we learn from this? What actions might we take?
I’d love to hear your thoughts.