HERE ARE 10 WAYS TO TRY TO
GET PRODUCT MOVING:
1. Put it on sale
This sounds obvious and it is.
However, small business owners are
often reluctant to discount product
and lose margins. Taking a hit on the
margin is much better than putting
it into a drawer three years later be-
cause it didn’t sell. Think like a retail
store and start by offering 25 per cent
off, then move it to 50 per cent off
and so on. Try putting a dollar figure
instead of a percentage off, for ex-
ample $50 or $100 off frames. Sound
like more even though it might be the
same discount.
2. Bundle it
Make it a package price - frame and
lens for $259.
This could be your value package and
you move frames you want to get rid
of into this value package special
and at the very least you are getting a
small profit on the entire sale. Plus,
you have kept a price-conscious cus-
tomer who might have left if you did
not have a value option.
3. Give it away
Give the frame away free with the
purchase of fully coated lenses.
Yes…you might be losing on the
frame profit, but you should make up
for it on the lens side. This could be
an anniversary event or special occa-
sion sale where you put 100 of your
frames on this promotion
.
it $100 to a new price and bingo!…
it sells. It put it into a category that
was a more economical option for
someone who was looking for that
style, but would likely have not paid
the higher price.
5. As a second pair
Offer the frames free on the second
pair. Buy the first pair at full price
and pay for only the lenses in the sec-
ond pair out of a special selection of
frames that are your blow-out stock.
This works very well to not only get
people into a second pair but to pro-
mote sunwear as an option.
6. Contest
Especially for high-end, well-known
designer product, put a monthly
contest on for a particular frame or
sunglass and give it away. It gives you
a chance to market it on your social
media and hopefully draw additional
exposure that you carry those brands
in your office.
7. Highlight it in the office
We often showcase new products
in the best spots and build all of our
displays around the newest arrivals.
Flip this around and put the stock
you want to clear out front and centre
in the most prominent displays.
Give it the full attention of the optical
and continue to move it around to
places where it will get the best views.
4. Change the price 8. Incentivize staff
Try lowering the price. This actually
works sometimes where the price
was too high before and you lower Give staff a bonus if they sell a par-
ticular model you want to move out.
It could be $10 or lunch with the boss,
but making your staff aware that you
want to move the frames and that
there is an incentive to do it makes
them more interested in showing it.
You can also have a competition
between staff. Whoever sells the most
of the blow-out product gets half a
day off.
9. Give it to staff
You likely give staff a free pair of
glasses every year, so you could make
this one a freebie. If they have al-
ready received their free pair for the
year, they can pay for the lenses. Hav-
ing your staff wearing the product
helps sell the product.
10. Make it into
a sunglass
If all else fails, send it to the lab and
have them put a pair of plano-tinted
or polarized lenses in frames and sell
it as a plano sunglass.
Last note: Old inventory is inevitable.
Become a savvy optical retailer and
find ways to turn that old product into
cash. Hopefully this gave you some
creative ways to clear the frame boards
and get some revenue in the process.
Trudi Charest is the co-Founder of
4ECPs, a business resource company
for eyecare professionals. 4ECPs has
six divisions, marketing, training,
social media, eyecare jobs,
payments & events.
OPTICAL PRISM | November 2018 29