Page 7 - Envision November-December 2020
P. 7

Cover Story

                                                                                          C ONSUMER NEEDS

                                                                           / The Optical Boutique - Clients in the waiting area of the store observing COVID protocol  /

            September was largely unchanged and, as of this writing, October stats have
            yet to be revealed. As of late October, with the second wave in full spate and the
            promise of a COVID-19 vaccine in the offing, it is anyone’s guess how things
            will unfold. More than ever it is wise to understand what consumers want and
            need and be creative in your response.                                    “    One thing, for sure:
            One thing, for sure: consumers are saving at an unprecedented rate. A Reuters    consumers are saving
            article, published on Aug. 31, 2020, quoted Greg Peterson, assistant chief    at an unprecedented
            statistician responsible for Economic Statistics at Statistics Canada: “Prior to
            the pandemic, Canadians saved just 2-3 per cent of their disposable income,                  rate.
            but that jumped to 28.2 per cent in the second quarter of this year.”                                 “
            And what are consumers with money in their pockets spending it on?
            Automobile sales soared last summer, and the housing market continues to
            set records in many cities, both small and large, across the country. More to
            the point, eyeglass sales, particularly in the high-end price range, have done
            remarkably well and this shows no sign of abating.

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