VisionPlus India

With refractive errors on the increase, the addressable segment remains to be served by the business and newer opportunities waiting to be grabbed by the coming generation of the optician community. This of course would mean newer ways of doing business, adapting, and embracing technology, the act of innovating being referred to as ' Jugaad ' – a practical solution the Indian way. If I may add, independent retailers must stand together while maintaining their independent identity and capitalize on the opportunities ahead. In conclusion, India's optical market has witnessed significant growth and transformation over the years. The pioneers, such as Tata group and GKB, played a crucial role in introducing plastic spectacle lenses and shaping the industry. With the dominance of plastic lenses, the market has evolved with various offerings and innovations. However, challenges like high rentals and intense competition pose profitability concerns for retail stores. The e-commerce policy draft holds the potential to level the playing field and create new opportunities. In this dynamic landscape, independent retailers must adapt, embrace technology, and collaborate while maintaining their unique identities to capitalize on the future prospects. through the roof in metros and tier cities, the challenges are there for all to see. The retail optical stores in India today face a situation wherein in terms of the number of stores to the population ratio is like anywhere in Europe and the US and hence accessibility is no more an issue as it was felt a decade back and there is a mushrooming of newer entrants where the market is overheated already. It is totally a different matter if we get into smaller towns and villages and a one-fit solution would not work in a country as diverse as India. Pure Online business as a standalone business and its profitability is a question mark as large players are also having physical stores to close the loop of customer purchase and enhance the average selling price. Single vision and mass Sunglass businesses would certainly be the ones to watch as how the purchase behavior molds with the youth of the country. The new draft policy that is likely to be announced soon by the Govt of India promises to level the e-commerce playing field. As of now, India allows 100% foreign direct investment in the marketplace model of e-commerce wherein companies act as a technology platform connecting buyers and sellers. It is to be noted that no FDI is permitted for the inventory-based model where platforms are selling directly to the consumers, but they cannot allow third- party vendors. 32 VISION PLUS INDIA EDITION