Accessory Sales
Following on from a recent article featured in OT (carried out by Reed Business Insight), we thought you might like to see the revealing statistics relating to accessory sales that emerged.
NB : Accessories include – lens cleaners, micro fibre cloths/cases/chains etc…
65% of practices view sales as a potential revenue stream yet only 2% of independent practices actually asked every patient about a purchase.
25% (approximately) of patients buy accessories when purchasing spectacle frames.
74% of practices never actively run promotional campaigns aimed specifically at accessories.
Currently independent practices assert that 3.8% of annual turnover is a result of accessory sales.
Between 80-90% of independent practices stock accessories as part of their inventory.
25% of practitioners are not aware that rimless glasses can be damaged by certain cleaning agents.
From the above we can surmise that there is clearly a want / need for these products amongst the buying public but we can also see some massive discrepancies between potential and realised sales.
The current scenario seems to be that you have the items that are wanted / needed in stock, they account for a relatively small contribution to the bottom line and there is a reticence to ‘push’ such products.
Clearly, as there is a want / need and the products are already sitting ‘on the shelf’ this potentially lucrative revenue stream should be pushed further up the priority list and actively promoted to each and every patient.
Most patients would welcome advice on how best to look after their new specs and would be grateful of your recommending specific products to do just that – they trust you to give them the information they need.
Display your accessories boldly (in or around reception reaps the greatest rewards according to the data from the survey) and promote the benefits with every sale of a pair of specs.
3.8% could easily turn into 10% of annual revenue and that is an easy way of increasing your bottom line for minimal outlay / effort – got to be worth a try ?
NB : Accessories include – lens cleaners, micro fibre cloths/cases/chains etc…
65% of practices view sales as a potential revenue stream yet only 2% of independent practices actually asked every patient about a purchase.
25% (approximately) of patients buy accessories when purchasing spectacle frames.
74% of practices never actively run promotional campaigns aimed specifically at accessories.
Currently independent practices assert that 3.8% of annual turnover is a result of accessory sales.
Between 80-90% of independent practices stock accessories as part of their inventory.
25% of practitioners are not aware that rimless glasses can be damaged by certain cleaning agents.
From the above we can surmise that there is clearly a want / need for these products amongst the buying public but we can also see some massive discrepancies between potential and realised sales.
The current scenario seems to be that you have the items that are wanted / needed in stock, they account for a relatively small contribution to the bottom line and there is a reticence to ‘push’ such products.
Clearly, as there is a want / need and the products are already sitting ‘on the shelf’ this potentially lucrative revenue stream should be pushed further up the priority list and actively promoted to each and every patient.
Most patients would welcome advice on how best to look after their new specs and would be grateful of your recommending specific products to do just that – they trust you to give them the information they need.
Display your accessories boldly (in or around reception reaps the greatest rewards according to the data from the survey) and promote the benefits with every sale of a pair of specs.
3.8% could easily turn into 10% of annual revenue and that is an easy way of increasing your bottom line for minimal outlay / effort – got to be worth a try ?
Summer is in full swing
And with the Olympics upon us, now is the time to be showcasing this very latest in sports frame and sports lens technology.
The legacy of the games will be a renewed interest in all things sport related and performance eyewear should be in the forefront of peoples minds.
Set aside a prominent area within your practice (and don’t forget to highlight your sportswear products in your window area) and push your expertise in this specialised sector.
Keep in mind security of course – these types of frames are highly desirable to the undesirables – contact Lynx for a range of quick and simple security solutions to stop unwanted stock leakage, from keylocking frame bars to full remote controlled devices, or even LED colour change glass showcases – all have their place and all will add perceived value to your sports frames.
The legacy of the games will be a renewed interest in all things sport related and performance eyewear should be in the forefront of peoples minds.
Set aside a prominent area within your practice (and don’t forget to highlight your sportswear products in your window area) and push your expertise in this specialised sector.
Keep in mind security of course – these types of frames are highly desirable to the undesirables – contact Lynx for a range of quick and simple security solutions to stop unwanted stock leakage, from keylocking frame bars to full remote controlled devices, or even LED colour change glass showcases – all have their place and all will add perceived value to your sports frames.
How to showoff !
Attention grabbing point of sale devices are a remarkably powerful tool in a practice.
This month sees the launch of Lynx IDG’s new LED light box – an ultra thin aluminium case designed to showcase your own (or suppliers) printed artwork to maximum effect.
Simple to install and highly visible due to the very latest LED constraint light source technology. From sizes A4 right through to A1 format, here is a light box to suit any requirement with the added benefit of up to 100,000 hours use (up to 10 years) – low energy use between lamp changes.
These light boxes outperform previous generations fluorescent lit devices on every level and will create a real talking point, either wall mounted or suspended as part of a window display.
Call 0800 387287 for details and how to ‘show off’ your promotional material at a fraction of the cost of similar, less effective devices.
