Annual Report 2019

Emerging trends

While we focus on managing existing risks, we always keep an eye on emerging risks and opportunities that can significantly impact our business. In 2019, we identified several emerging trends.

A main driver is the favorably developing global economy, yet rising nationalism and populism can impact the economies of specific regions or countries. From an operating effectiveness perspective, we need to ensure our people hold critical positions to drive continuous improvements for the customer journey experience.

We also identified a trend of continued increase of regulations and compliance requirements in many areas, and more specifically with data privacy.

Furthermore, optical markets are becoming less subsidized by healthcare systems as governments focus on containing healthcare costs.

In global retail, an ongoing and very important trend is the shift of customer behavior to digitalization, which leads to increased price transparency in the market — which we welcome.

Finally, there is an increased scarcity of talent, particularly of qualified opticians.