2. Is my eyeglass inventory diverse, right for my demographics, and price-competitive?
An affirmative response to this question is critical. Time and again, I’ve heard patients complain that their physicians’ dispensaries don’t carry the right frames for them.
The inventory needs to contain enough variety to ensure the needs of each and every patient can be met. This means carrying a variety of shapes, sizes, colors, and price points. It’s important to stay abreast of current trends, as many patients like their eyewear fashion to stay as up-to-date as the rest of their look.
When it comes to price point, many practices today choose to offer a price-protection guarantee stating they will beat the price of any competitor for same or similar items—whether that seller be another brick-and-mortar retailer, or a spectacle e-tailer.
Admittedly, this can be dangerous, as some cost-cutting online outlets seem to exist solely to disrupt from a pricing standpoint rather than provide comprehensive service. At the very least, eye practices need to be cognizant of the discount landscape and price certain frames accordingly.
It’s also important to note that many customers want to own second and third pairs of glasses—ones they can keep in their cars or offices, for instance. This is yet another reason for maintaining inventory that varies considerably in style and price, as customers tend not to overindulge on so-called “spare pairs.”