Business is looking good for optometrists in Goa

Everyone needs it at some point in their life. Some spend money trying to avoid it and others have to use it from a very early age. Unlike many other industries in the State unable to grow due to the slowdown in the economy, the need for spectacles is growing at a healthy pace. In fact one could say the stress of modern life is increasing the number of people who find it necessary to use spectacles to lead a normal life.   

From the time when Panjim had just one store selling spectacles to the present scenario where there are approximately 30 stores, the business, it can be said, is certainly growing. One of the oldest establishments in the city, Frank Opticians has been witnessing a healthy growth in business with the overall market growing by 10 to 15%. For Russel and Kenneth Dias, the next generation of the Dias family taking business forward, these are exciting times. Kenneth Dias was of the opinion that since he and his brother were optometrists, they were able to provide proper advice to prospective clients. The market in Goa, Kenneth felt was divided into those who wanted value for money and then those who were willing to pay top money for famous brands. The brothers have just inaugurated a new showroom a shop away from their old outlet. The new outlet promotes brands as diverse as Ray Ban, Carrera, Burbery, Versace, Prada and Dolce Gabbana to name a few. There were he said a growing number of people from the salaried class buying expensive brands. From a base price of Rs 5000 which could buy you a Rayban, there were also consumers willing to spend up to a lakh for a frame. Goa, he said had all kinds of consumers. 

The major players which were now coming in the country were tying up with local players to increase their reach in the market. Frank Opticians have recently tied up with a European major which will provide them with training, systems as well as an opportunity to sell world class products in a fast growing market. 

Asked about the trends emerging in this market Kenneth said his customers seemed to have a soft corner for a retro feel. Spectacles that were round or cat eyed were very fashionable. In his stores he had brands like Chopard that retailed for anything between Rs 38,000 to 42,000 for the frame to a Montblanc which could be well over Rs 50,000 to a lakh. 

In terms of materials being used for frames, consumers he said were expressing a liking for full plastic frames in bold colours. A representative of an American company in the eye care industry who was in the store and was not authorised to speak for his company said like in other parts of the world there was an organised as well as unorganised sector in the industry. For every Ray Ban there was a Roy Ban made in China which could be available for a quarter of the price. He however was not able to provide an estimate of the size of the problem that afflicted the industry.   

Vision 360 has several outlets all over the country. Headquartered in Goa the company manufactures lenses. At its outlet in Panjim customers can buy the lenses along with the branded frame. The manager at the outlet Nilesh Naik said the customers who visited the outlet were largely price sensitive with the consumer interested in price as well as style. The younger consumer wanted plastic frames while the older customer preferred the classic look. The average bill he said usually never exceeded Rs 2500. Amrita Kosembe the proprietor of OptiCare a retail outlet in Panjim said “Being in this business means that 95% of the time I am generally happy since business is continuously growing. I have an outlet in Panjim and Candolim. The drop in the flow of tourists into the State meant there was a dip in sales at the Candolim market.” Consumers she said wanted a good brand at a reasonable price. The Goan consumer she said was very price sensitive. Brand was important but price was always a consideration. 

One of the largest eyewear stores in the country Lenskart has a presence in the State with outlets in Mapusa and Panjim. Prasanna Bhandagi, the franchisee who has put up both the stores said business was good with Panjim experiencing a growth of 15% every quarter. This was also due to the nature of the clientele in the city. With a large percentage of floating population quite attuned to evolving global tastes, the sale of the some of the funkier colors is rising. It was not usual for customers to buy frames anywhere between Rs 1000 to Rs 35,000 from the store. Tough he admitted the regular ticket sale at the outlet was in the price range of Rs 1000 and Rs 7000. People he said were looking at it as a fashion accessory which was apparent in the styles and colors that were sold. Mapusa had a more traditional customer base.   

With regards to the next five years, Prasanna said business would triple with over 70% of the population needing glasses. Given the current state of the economy and the state of various business sectors, one could say it is heartening that there is at least one sector expressing happiness and confidence for the future.