Frame buying typically accounts for our highest spend in the optical. The products are an investment, with profits captured only when properly paired with the right client. Purchasing decisions are often entrenched in existing habits and the ECP’s personal biases and preferences, sometimes at the expense of potential profits.
Overcome Personal Bias
Overcoming our own opinions is the first step in buying strategically and getting back to the basics of a well-balanced frame board. It might not be your first instinct to select the bright, bold orange frame to put on the board, but it is the frame that will be the siren song that calls clients to try it and interact with your inventory, leading to a higher likelihood of a frame purchase.
When selecting frames, try the 80/20 rule for inventory balance: 80% proven sellers (based on your practice data, these are styles, colors, shapes, and fits that consistently sell well); the other 20% of frames you buy should be experimentation (new color trends, fashion-forward shapes, or unique pieces) to differentiate your optical offerings and portray your commitment to keeping offerings fresh.
Tips for overcoming bias:
→ Involve the team in buying decisions. Invite those who work directly with patients for frame selections to get different perspectives on what is missing on the board and what clients have been asking for.
→ Buy more than one color and size. If tortoise is your top seller, buy the same frame in an additional, more eye-catching color. Clients naturally ask, “Does this come in another color?” Having an alternative option on hand may expedite decision-making and remove the need to order additional frames “on approval.” This also keeps your board from being a boring display of brown and black frames.
Use the Data
Prior to any buying appointment, pull your sales reports. Look at top sellers across all brands and within brands, and pull a “slow-movers” report. Ask your rep to come prepared with a list of their top sellers based on reorders; these can indicate market trends across a broader territory. By specifying based on reorders, you are learning valuable data about what is selling versus what is still sitting on someone’s board.
Tips for using the data:
→ Identify gaps. If your data shows that 80% of sales come from thin metal frames but only 30% of your inventory is metal frames, adjust accordingly.
→ Evaluate price tiers. What percentage of your sales are coming from low-, mid-, and high-end frames? Increasing the offerings within top-selling price points can further increase sales.
Lay It All Out
The general flow of most frame appointments consists of flipping frames in the trays, yet this technique can result in a lot of unknowns. It’s impossible to see how the selection comes together, and it’s easy to duplicate colors and create redundancies in sizes and shapes. The final tally of frames and the overall cost of the order is unknown until the invoice arrives. With small adjustments in the process, you’ll keep an eye on the selection and the budget.
Tips for presenting frames:
→ Skip the flip and stack. Rather than flipping through frame trays, pull each frame and lay them out as you would on your frame board. If you merchandise by men’s/women’s or by brand, size, or silhouette, organize them this way. This allows you to see how the sizes, styles, and colors vary and gives you a better visual of how they will work with the current inventory on the board.
→ Keep your budget in mind. Your rep will be able to tell you the average price of the frames in the collection, and with all frames laid out, a ballpark of the buying cost can be quickly calculated. Do not hesitate to ask your frame rep to write up the order and credit for exchanging stale or discontinued inventory before putting the order through. Keeping an eye on spending will prevent inventory overbuying.
Lean Into Reorders
When inventory hits the board, the excitement around new arrivals drives staff and clients alike to increase their attention on these models. This typically results in quick sales. Without immediately reordering the styles that sell quickly, they can be forgotten and an opportunity to repeatedly sell a style is lost. An instant reorder ensures the enthusiasm doesn’t wane. Sometimes we look to “sell down our inventory” before our next rep visit or buy. Unfortunately, this leaves our board void of top sellers and stocked with stale products. By immediately reordering, you will create data to find your optical’s top sellers.
Tips for reorder success:
→ Jot it down. Create a list where each employee can keep track of frames sold that they think should be reordered. This is a great gauge of the styles and collections your team is most enthusiastic about and are showing patients.
→ Schedule regular reorders. Follow a weekly or biweekly schedule. Use the reorder list or sales report to replenish. This can also ensure you hit minimums for free shipping.
→ Don’t be afraid to ask. Negotiate exchange rates to include reorders. Ask for free shipping for single frames and reorder incentives with reps and vendors.
