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Independents' retail prices for soft contact lens stable in '07
The average price per box for soft contact lenses charged by independent eye-care professionals (ECPs) was unchanged during 2007, according to data from the most recent ABB-Con-Cise Soft Lens Retail Price Monitor.
Coral Springs, FL-The average price per box for soft contact lenses charged by independent eye-care professionals (ECPs) was unchanged during 2007, according to data from the most recent ABB-Con-Cise Soft Lens Retail Price Monitor. Among the major soft contact lens categories, pricing of clear sphere and colors was unchanged compared with 2006, as soft toric pricing declined 1% and multi-focal pricing increased 1%.
The ABB-Con-Cise Soft Lens Retail Price Monitor is a quarterly audit of ECPs' pricing of more than 30 leading soft contact lens brands. Included in the analysis are prices for 27 brands that were continuously monitored over the past eight quarters.
Average per box retail price of independents for the 27 brands was $43.92 in 2007, compared with $43.99 in 2006, a slight decline of 0.2%.
"Market analyses show that typical independents earn a 45% gross profit margin from soft lenses. Through competitive price monitoring and adoption of a consistent margin strategy, ECPs are able to raise the profit margin to 48% with no loss in business. For an average size practice that translates to a $5,000-$6,000 profit improvement," said Alvarez.
