Are You Guilty of This Common Merchandising Mis-step?

Date: October, 19, 2012 / Author: Jennifer Anderson
Categories: Do's and Don'ts, Ask The Expert, Growth and Profit Tips, Office Design FAQ, Productivity Tips

This is a reprint of a real message that I sent to a real client who reported a smaller than average revenue increase after moving to the new office we designed for him. Are you making the same mistake as Dr. "Smith"?

Dear Dr. Smith (not his real name),

When I visited your office last week I was puzzled when I checked out the brands on display in your new high end showcases. Most of the frames in there were priced around $300 or less. Your optician wants to bring in more higher priced designer names but hasn’t gotten your approval to place the orders. There was only one lonesome Gucci frame left. Apparently that brand sold very well, but never got re-ordered.

You may not realize that the people who live in your practice zip code have some of the highest incomes in the entire country. I am certain that you are missing out on thousands of dollars of frame sales every week because you don’t have the high quality fashion brands that these folks are looking for. You should have no problem selling frames that retail for $500, $800, even $1000+. 

Coach and Calvin Klein are NOT high end and do not belong in your high end showcases. Honestly, you are LOSING BIG MONEY every week that goes by without better product in those showcases. 

Attached are the lifestyle demographic reports that we use to research who your patients are. Your office is designed to attract the wealthy patients who live right in your neighborhood. I’m sure some of them are coming in for eye exams, but leaving without buying any eyewear because you don’t have the great high quality frames they want! They could be spending those dollars in YOUR dispensary. Instead your competitors are getting the $1,000+ frame sales that should be YOURS.

Please study these reports on your top 5 lifestyle groups: 2 of the 5 groups have median family incomes of $100,000 per year and above. That means half of them earn WELL OVER $100,000 per year. You are not doing a good job of serving your patients if you don’t offer them the higher-priced frames that they’d be HAPPY to buy from you!

Consider adding a few of these brands:

David Yurman, Kata (from Legacie)

Alexander McQueen, Bottega Veneta, Balenciaga, Dior, Giorgio Armani, Gucci, Marc Jacobs, Yves St. Laurent, Jimmy Choo, Hugo Boss, Pierre Cardin (from Safilo)

Burberry, D&G, Dolce & Gabbana, Chanel, Bvlagari, Persol, Prada, Tiffany, Versace (from Luxottica)

Alain Mikli (from Alain Mikli International)

Bring in at least one of these brands with some "BLING!"  (Women in big cities and small towns alike go nuts over these brands—seriously!):

Daniel Swarovski (from Marcolin Group)
Caviar (from UltraPalm Optical)
Judith Lieber (from Legacie)

If you don’t believe me, just try it and see what happens. Your optical is primed for success, but it will never live up to its potential without the right merchandise.

Dedicated to Your Dream,

BARBARA WRIGHT DESIGN, INC.
Barbara L. Wright, CID
President

P.S. Why aren’t the beautiful photos we took of your office on your HOME PAGE?!!!! Patients look at websites to choose a doctor. Photos of a great-looking optical often are the deciding factor in whether they call YOU or somebody else. Did you misplace them? Just ask and we’ll send you more copies. You’ve got a great practice marketing tool in those photos but if they are not on your website they can’t help you. Come on, doctor--WAKE UP!!!

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