ACCESSORIES: Measuring Up and Cashing In

Getting the best bottom line by utilizing your selling space to its fullest

By Amy Spiezio

Clip-ons and OverRx eyewear are two accessories categories that ensure those who aren't ready to buy sunwear still have a potential add-on for their eyewear purchase

Getting into the accessories game can be a two-pronged practice benefit: First, your operation becomes a total optical operation for your patients. Second, you tap into a potentially rich vein of profits that impact your bottom line in a way that simply filling prescriptions will not.

"People use a million and one reasons why they don't use accessories. But they should be full service," says Corinne McCormack, owner of an accessories company and presenter of the recent International Vision Expo West course, "Increasing Revenue Through Accessories."

With a small investment in space and product, ECPs can not only increase sales but also offer better service and more options to their patients.

When it comes to starting in accessories, the pros say it doesn't take much space, but it does take some planning. The first step is to take a chance and get started. Because accessories items are generally inexpensive wholesale, they present an opportunity to take a chance with a new look, cutting edge style, or impulse-tapping product.

Once you get inventory on hand, keep that inventory ready to move on the selling floor. "Are you going to buy a pair from people who have three pair or a hundred?" McCormack asks. Keep accessories fixtures full and keep on buying those things that are selling.

OVERRX & CLIPS

About 80 to 90 percent of those purchasing prescription frames do not purchase a second pair of prescription sunglasses. That leaves a lot of potential business on the table. OverRx sunglasses and clip-ons are accessories that will add to the sales revenue of any dispensary without eating into the valuable retail space that is generally in short supply. Space Demands: Clip Kit footprint: 19.75" × 11.75" OverRx eight-piece display footprint: 7.5" × 8" According to representatives from Live Eyewear, OverRx sunglasses have an MSRP of $44.95 and clip-ons $34.95. The average dispensary retails 10 to 15 OverRx sunglasses and 15 to 30 clip-ons a month, for about $975 to $1,725 in additional monthly sales.

Readers, Chains, & Cases

Readers, chains, and cases are three of the accessories powerhouses. Putting them together and keeping them in view of patrons is key to making sales happen. Investing in product and fixtures—or enough product that manufacturers provide a free fixture—is the starting point for a potentially profitable effort.

When it comes to planning, dispensers can reach a 10 percent incremental increase in their overall sales if they successfully invest in accessories. Although that's not the figure you will hit with a simple basket of readers at the checkout station, even a small investment in getting started in the accessories segment will pay.

Getting Started: A simple setup near a dispensing station or the checkout area can yield a nice profit.

Desktop unit: 7″ wide × 9″ deep × 24″ tall

Units like Hilco's reader display generates an additional $236.00 in revenue with at least a 51 percent profit margin ($120.01 in profit dollars per turn), company reps note.

Ramping Up: If you're ready for something a little larger, a little more space may mean quite a bit more profit.

Freestanding unit: 18 square inches

A freestanding unit can deliver a 1x to 2x turn, so you get $2,500 to $5,000 in sales off of that unit, notes Corinne McCormack. There is about a $2,000 to $2,500 worth of product investment to hold readers cases and chains, she says, with the caveat that leaving a fixture with empty product spaces can actually act as a turnoff, so keep units refilled.

Fully Accessorized: Taking accessories to the next step means integrating your product with other items in stock, such as Rx frame displays.

Accessories department: Space on a counter, shelf, or tabletop that would be roughly 2 feet by 3 feet in size. That size can be adjusted up or down based on the amount of commitment which the office is willing to make in accessories.

Offices making an initial investment of $1,500 to get an array of accessories have seen annual revenue in the $12,000 to $14,000 range with an approximate gross profit of 55 percent, or $6,600 to $7,700, note representatives from Cinzia.

At left is a rundown of some potential accessories product categories and the details behind making the extras a true bonus for patients and practice alike. EB

Getting started in accessories taps into patient needs and impulses. The countertop Try Me Care Center, below, from Nanofilm features Clarity Clean and other products. Left, top to bottom: Hilco's readers unit, samples of the latest from Corinne McCormack, and Cinzia's portable five-piece display setup

CLEANING KITS
Cleaning products are a low-cost impulse item that can generate sales without consuming space. Space Demands: Under 1 square foot A countertop unit including products such as moist towelettes, lens care kits, sprays, and microfiber cloths provides a lot of cleaning options in a small space. According to Nanofilm, products like their Try Me package generate over $220 of additional income per turn.