Optometry Business Insight

Over the past couple of years, and even more so in the Covid19 era, some pundits are ringing the gloom and doom bell over retail. “Retailing is dead,” they say. Well, certainly if you look at the recent performance (and bankruptcies) of such retailing giants as Target, Macy’s, and J.C. Penney, you might come to that conclusion. And with 5 times the retail space per capita as that of our European counterparts, combined with the transformational results of the Covid19 pandemic, it’s easy to be uneasy about the future of retailing. But should the eyecare community be concerned about the future of retail?

In recent weeks, I’ve shared with you the importance of looking ahead with an eye towards innovation. Covid19 has opened our respective eyes to many new possibilities. I’m proud to learn of the many service and product modifications that you are executing. The words of Plato from 2500 years ago ring true today, “necessity is the mother of invention.”

If you’re like me, the past two months have been a whirlwind of activity. As a firm, we’ve been totally immersed with assisting you in navigating the Covid19 rapids. We’ve designed and executed digital wisdom-sharing meetings, personal coaching, and a slew of webinars to help you weather this storm. Near as we can tell, you’re in a pretty good place.

During my interactions with clients over the past month, it’s become abundantly clear that Covid 19 has delivered a great deal of stress. Change can do that. But I believe that uncertainty is a large contributor. And these are uncertain times.

The Covid19 forced shutdown has provided you with the opportunity of time. Yes, along with this challenge has come some financial pain and agita. That’s natural because, in the words of Dr. Spencer Johnson, “someone moved your cheese.” And we humans don’t like change. But it’s been served up on a silver platter. The real question is “will you be a victim or an opportunist? The choice lies squarely on your shoulders.

As we finish up the first month of Covid19 closures, you’ve now likely began navigating your way through the various support programs that have been put forth by our government. Whether its PPP, EIDL, DOL or scores of other acronyms, there seems to be a program for everyone. But is there enough money? That’s a question that only time will answer.