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Business Updates

VM's News Quiz for the Week of Oct. 18: Halloween Eye Safety, the Hunt for a COVID Cure and the Get Out the Vote Movement

By Staff
Tuesday, October 27, 2020 12:15 AM Did you follow the optical news this week? Take VM’s News Quiz to see how much you know. This week's quiz takes a look at Halloween eye safety, the hunt for a COVID cure and the get out the vote movement. Click here to take the quiz.

Blue Light Fashion Isn’t Going Anywhere

By Staff
Friday, October 23, 2020 2:30 PM NEW YORK—There’s no doubt about it: screen time has become more or less unavoidable. While this might not be the best news for eye health, one upside has been recently emerging: the popularity of blue light glasses. Whether you feel strongly about their effectiveness or not, blue light glasses have undeniably become a fashion trend as well as a health device. Online, social media influencers partner with brands to advertise their blue light glasses, and many fashionistas with flawless vision who just love the look of glasses have found blue light to be the perfect compromise. Plus, with Coronavirus cases rising throughout the country and another full lockdown looming, it’s looking like the perfect blue light storm is upon us. Read More

How the Pandemic Helped Zenni Hit Record Eyewear Sales

By Staff
Friday, October 23, 2020 2:22 PM We’d initially seen a downturn around February, along the early Covid-19 outbreak impacting our China factory. However, starting in April and May, new customer acquisition and retention exceeded projections. That’s when order volume went up by more than 54 percent year-over-year, and we saw a 35 percent growth in overall unit sales. With so many optometrist locations still only open at a limited capacity, customers are finding more reasons to turn to an affordable e-commerce alternative.

Many Positive Indicators for Retail Holiday Sales, Even With Uncertainty

By Staff
Tuesday, October 20, 2020 12:49 PM While we are in a recession, Americans are relatively flush with cash as we go into this holiday season. Bank accounts are not looking as bad as we thought, we had a historically large stimulus, and people have not been out spending as much as historically.

The Vision Council Announces Dates for the 2021 Virtual Executive Summit: January 26-28, 2021

By Staff
Tuesday, October 20, 2020 12:30 AM ALEXANDRIA, Va.—The Vision Council today announced that the 2021 Executive Summit will take place from January 26-28, 2021. Presented under the banner of “An OPTImistic View of the Future,” the 2021 Executive Summit will be conducted in an all-new, virtual format designed to accommodate the needs of attendees from around the globe. “While we would typically be looking forward to gathering in person for this important annual event, The Vision Council is committed to offering the same unparalleled opportunities for meaningful networking and leadership development to the leaders of our community,” said Ashley Mills, CEO of The Vision Council. 

VM's News Quiz for the Week of Oct. 11: Mido Moves on to 2021, Health Care Cancellations and a New 'Hire'

By Staff
Monday, October 19, 2020 10:00 AM Did you follow the optical news last week? Take VM’s News Quiz to see how much you know. Last week's quiz takes a look at Mido's Plans for 2021, a new "hire" at The Eyeglass Lass and healthcare cancellations due to COVID. Click here to take the quiz for the week of October 11th. VM's News Quiz is published every Saturday as part of VMAIL Weekend. Read More

What We Know So Far About Masks and Coronavirus

By Staff
Monday, October 12, 2020 6:20 PM

VM’s Summit Examines Seismic Changes in Optical Landscape Due to Pandemic

By Mary Kane and Mark Tosh
Monday, October 5, 2020 12:45 AM For the first time since its inception 14 years ago, Vision Monday held the opening session of its Global Leadership Summit on a virtual platform due to the pandemic. So it was only fitting that the theme of the four-part, month-long Summit, titled "AFTERSHOCKS: Remaking Healthcare's Future, Vision Beyond 2020," took “attendees” on a quest for answers to the many business challenges and urgent questions facing ECPs and vision care decision makers in light of the virus. If the first session was any indication, Vision Monday more than delivered on its promise to serve up a thought-provoking program and bring together a wide range of noted experts to address big trends and practical tactics in the face of COVID-19. Here is a top-line look at some of the messages.

Safilo Group Issues COVID-19 Pandemic Business Update, Forecasts Return to Profit in Third Fiscal Quarter

By Staff
Friday, October 2, 2020 12:33 AM PADUA Italy—Safilo Group (Reuters SFLG.MI) issued a statement yesterday about the results of its third financial quarter and said "based on the business rebound recorded in July, its performance in August and preliminary data for the month of September, the Group’s management expects total net sales (including acquisitions) for the third quarter 2020 to grow mid-single digit at constant exchange rates compared to the same quarter of the previous year. The positive trend in total sales also supports the forecast for the quarter to return to a profit at the adjusted EBITDA level."

Organizers of Vision Expo Announce New Dates for Vision Expo East 2021: May 25 – 28, 2021 at the Javits Center in NYC

By Staff
Thursday, October 1, 2020 9:13 AM ALEXANDRIA, Va.—The Vision Council and Reed Exhibitions, organizers of Vision Expo, today have announced that Vision Expo East 2021, originally scheduled to take place from March 18-21, will now take place May 25-28, 2021 (Education: May 25-28; Exhibition: May 26-28) at the Javits Center in New York City. The date change reflects a proactive decision by the show’s organizers "in the interest of providing more time for companies to effectively plan their participation during this challenging period for the optical marketplace," the announcement said.

DaTE Proves Restart Is Possible

By Staff
Friday, September 25, 2020 12:25 AM The 8th edition of DaTE, the showcase event for eyewear of the future, closed on September 21 in Florence. 1,000 pre-registered professionals and select buyers visited the show, meeting organizers’ expectations and confirming the importance of in-person events.

VSP Global’s COVID-19 Patient Care Grant Program to Help Offset Pandemic Expenses Is Now Available to ECPs

By Staff
Thursday, September 24, 2020 12:27 AM RANCHO CORDOVA, Calif.—VSP network doctors can now apply for the recently announced VSP Global COVID-19 Patient Care Program, which offers grants to help practices offset expenses and financial hardships due to the pandemic.

Fading Fiscal Stimulus Restraining U.S. Consumer Spending

By Staff
Thursday, September 17, 2020 12:51 PM Consumers are being increasingly cautious with their spending. If Congress is unable to extend fiscal aid to households in the coming weeks, the economy will be particularly susceptible to a cutback in consumer spending, especially from the lowest-income families.

Jobson Tracker: National ECP Revenues and Category Indexes Decline Nationwide

By Staff
Wednesday, September 16, 2020 12:33 AM NEW YORK—For the third week in a row, optical sales experienced a decline on the national level. This past week’s substantial decreases in optical sales can be attributed to the Labor Day holiday, which was the first day of the most recent week for which metrics were tracked (Sept. 7-Sept. 13). All service/product categories were down by index points in the mid-teens.

'Leadership Lessons From Healthcare's Front Lines: What's Next for Payors, Providers...and Vision Care?' Learn More at the VM Global Leadership Summit

By Staff
Monday, September 14, 2020 12:27 AM NEW YORK—The upcoming Vision Monday Global Leadership Summit will examine the big themes and urgent questions facing ECPs and vision care decision makers in light of the pandemic which has created new challenges on so many levels. Titled "AFTERSHOCKS: Remaking Healthcare's Future, Vision Beyond 2020," the VM Global Leadership Summit will comprise four two-hour sessions to be held over four consecutive weeks, starting Sept. 30, Oct. 7, Oct. 14 and Oct. 21, from 3:00 p.m. to 5:00 p.m. each day. This very special event will bring together a wide range of noted healthcare professional and executive leaders as well as accomplished vision care leaders and professionals to address big trends and practical tactics.