Unlocking the benefits of overstock eyewear for your Optometry Practice
In the competitive world of optometry, one strategy that’s gaining traction is the implementation of overstock eyeglasses. Traditionally, overstoc frames were often seen as less desirable; however, with companies like ODsUnited offering full one-year warranties on all frames, optometrists can now confidently provide high-quality, desirable name brand frames at a fraction of the cost. Here’s why incorporating overstock eyeglasses into your optical offerings is a smart business move and how it can give your practice a competitive edge.
1. Maximizing Margins to Compete with E-Commerce and Big Box Stores
Optometrists face constant competition from online retailers and big box chains that can afford large discounts and sales. By acquiring overstock frames at heavily discounted rates, optometrists can offer more competitive pricing without sacrificing quality. This strategy not only allows them to cater to a broader range of budgets but also to sell to patients with vision insurance, where budget considerations are often paramount. With the right pricing structure, practices can position themselves as a strong alternative to online retailers, offering the added benefit of in-person service and expertise.
2. Providing Value Without Compromising on Style
Eyewear trends do evolve, but not as rapidly as in other fashion industries. The reality is that many patients can’t distinguish between frames that are in-line and those from a previous year’s collection. Classic shapes and colors—like black, brown, and tortoise—remain best-sellers year after year. In fact, today’s styles often draw from retro designs, making it possible for overstock frames to appear just as fashionable as newer collections. Styles like the timeless aviator have remained popular for decades, proving that quality and aesthetic appeal can outlast fleeting trends.
3. Increased Flexibility with Vision Insurance Patients
Patients with vision insurance are often looking for value, and overstock frames can help you cater to that need. When you purchase overstock frames at significant discounts (typically 30-70% off wholesale), you’re in a position to offer quality frames within the price ranges covered by most insurance plans. This flexibility ensures patients can find frames they love without having to pay substantially out-of-pocket beyond their insurance coverage. As a result, practices can improve patient satisfaction and loyalty while retaining profitability.
4. Adding a Competitive Sale Section
Offering a sale section or a “budget-friendly” collection in your optical display can serve multiple purposes. First, it appeals to cost-conscious patients or those looking for a second pair. Even in high-end luxury offices, having a budget-friendly section can drive sales, particularly for patients who may want to explore different styles without a large financial commitment. This approach allows you to expand your patient base, cater to more demographics, and increase the frequency of repeat visits.
5. Ensuring Financial Health in a Competitive Market
Optometry practices located in highly competitive markets—especially those with a high proportion of vision insurance patients—should aim for 20-60% of their optical selection to come from sources that offer 30-70% off wholesale. This ratio will depend on the level of competition in your area and the insurance profile of your patient base. By sourcing a significant portion of your selection from discounted frames, you’re ensuring that your practice can thrive despite market pressures, ultimately contributing to financial health and longevity.
Embracing Overstock as a Smart, Strategic Choice
Optometrists today have access to better deals, warranties, and flexible purchasing options that allow them to maintain a robust selection of frames without stretching their budget. Buying overstock frames has evolved from a cost-saving measure to a strategic choice that can elevate patient satisfaction, improve margins, and help practices remain competitive in a saturated market.
In the end, the frames you offer are only part of the equation—your expertise and in-person service add tremendous value. By leveraging overstock options, you can continue to deliver on this value while meeting the needs of a diverse patient base.
