Blog
Blog
 
 
 
 
 
 
 
 
 
 
 
Blog
IDOC actively shares industry-focused articles, blog posts, podcasts, videos and other thought leadership with our members and other optometric practitioners. Below, you will find links to our growing library of educational materials and multi-media assets written and created by IDOC's team of seasoned industry experts.
Ximara Vega | 3/12/2021
LINGERING PRODUCTS? LET’S DIG A LITTLE FURTHER!

What should a practice do when they have lingering product? Well, 1st we have to identify what lingering product is. In my world, lingering product includes all frames that have been sitting on the shelf for a minimum of 6 months. I like to evaluate product every quarter to identify overall performance. If you feel a frame line has potential to be more successful than it has proven to be a few things need to happen:

  • Staff education
    • Make sure that all consumer facing staff are well versed in the story behind that brands
      • Why is it worth what you are selling it for?
      • What are some fun facts about the brand?
    • Product positioning
      • How many frames from that line do you have?
        • It takes 24-36 frames to effectively demonstrate a line’s brand story.
      • Are all of the frames merchandised together or are they scattered throughout the optical?
        • If scattered, bring them together.
      • Create a fun display that will pull people in.
      • Try keeping a couple of pieces on display at the front desk and develop talking points for your front desk staff to use to highlight that brand.
      • Feature them on social media.
    • Evaluate success
      • Review performance results at the close of the quarter.

What happens if the frames don’t move and all efforts have been unsuccessful and they have been sitting in your boards between 6 months and a year?

  • Try to get credit or exchange for new styles.
  • For moderate and high-end frames:
    • Reprice (not mark down) frames to the next lower price bracket, giving them a different grouping of frames they will be compared to.
    • Reprice (not mark down) frames to $149-$199 making them available at a low or no copay for most vision plans.
    • Offer frames at half off if purchased as a second pair, or for updating eyeglass rx for contact lens patients.
    • Use frames to provide OTC solutions:
      • If the frame would make a great looking sunglass, have plano polarized lenses made and sell as non-rx sunglass.
      • Have plano blue light blocking lenses made.
  • For more desperate measures (frames sitting for 18 months or more):
    • Many vendors exchange old inventory for a 50% discount to order new product.
    • Include the frames in your Medicaid or Save The Sale selection.
    • Donate to a nonprofit.

Lingering products are a pain point for many practices. Reviewing frame performance quarterly and taking action will eventually eliminate the need to aggressively discount or give away product.

 

Ximara Vega
Merchandising Manager
Ximara is an ABO Certified Optician and lecturer with over a decade of experience in both consumer relations and staff management in the optical industry. As an Optical Management Consultant with IDOC, she works with practices to develop processes designed to motivate and inspire positive change in areas such as staff training, goal setting, sales and inventory management. For insight into her approach feel free to read her IDOC blogs and the articles she has written for Pentavision's Optometric Management Tip of the Week.
Trending Blogs
 
 

5/19/2022 | Author: Steve Vargo

As research for launching a new service called IDOC Specialty Services, I interviewed several industry experts of various specialties. At the end of each call, I asked everyone the same question: “What prevents more ODs from succeeding with a specialty?”

Their answers were insightful.... Read more


5/3/2022 | Author: Amy Alvarez

The pandemic has caused many changes in private practice, affecting everything from the way we see our patients to what we expect from our employees. Although some of these changes serve us well, others may feel like a barrier. While attendance issues are not new... Read more


4/25/2022 | Author: Lana Greene

Do you ever wonder if the same amount of effort goes into selling eyeglass frames vs. selling lenses and treatment options? I certainly do. Speaking from experience as an optician, I remember always being so excited when new lens technology was released. I couldn’t wait to fit our... Read more


4/8/2022 | Author: Steven Festa

Alright, I will come clean on something very few people knew about outside my family.  I’m OK with sharing this with the world now as it helps prove a point about the importance of being present in local searches.

Ever since COVID started, my wonderful wife had started... Read more


4/4/2022 | Author: Jelissa Brooks

Expanding your staff is an exciting step in independent practice growth. If you’ve recently added a new OD to your practice, get the word out to your audience through social media!

Promoting a new associate OD through your social media channels is an effective strategy in... Read more


3/15/2022 | Author: Nathan Hayes

In case you haven’t noticed, the Consumer Price Index was up 7.5% in January, as compared to 2021. In short, this means that a basket of goods like food, energy, and other consumer goods cost 7.5% more in 2022 than the year before.

Practice owners feel the squeeze in multiple... Read more


2/28/2022 | Author: Steve Vargo

Are you experiencing burnout in your professional career? It’s okay, you can admit it. You’re not alone. In fact, studies have found that approximately 50 percent of physicians are suffering from burnout.

Twelve billion dollars. That’s a conservative estimate of the cost incurred to... Read more


2/17/2022 | Author: Amy Alvarez

The last few months have been filled with rising wages, steep job competition, and continued uncertainty. Practice owners are being approached by staff about pay increases and are receiving higher wage requirements from job candidates. Many businesses are advertising their starting pay,... Read more


2/7/2022 | Author: Lana Greene

I often hear from ODs and opticians that their patients are taking their prescriptions and purchasing eyewear at Costco, Warby Parker, or other online retailers. Rarely do I hear the reason why. Finally, the opportunity was in front of me so I could ask questions to a consumer regarding the... Read more


1/24/2022 | Author: Steven Festa

Does hearing SEO make your eyes glaze over a bit and cause your mind to wander? If you answered yes, then you are not alone. While tough to grasp initially, SEO is important for your practice, and as providers of Read more

© 2022 IDOC. All Rights Reserved