How to succeed in the retail orthopedic market?
As an independent operator of a healthcare retail facility be it an HME, O&P clinic, or other specialty retailer, competing in the orthopedic retail bracing segment is challenging. It is not an easy task to compete with a flood of big box retailers from Walmart to Dick’s Sporting Goods along with every pharmacy chain and grocer. Layer in the endless options on the internet and it may seem daunting. How does one compete with their purchasing power and brand recognition for a retail sale?
The answer is simple. Play to your strengths. Provide a quality product, service the customer with knowledge and care, then follow through on the referral side when applicable. None of your competitors stand a chance to win at this level. So let’s flip the narrative and make orthopedic product purchases centered on healthy outcomes and not price points.
What are the most important factors to consider when selecting an orthopedic vendor?
Today, there are several factors to vendor selection from product availability, customer service, quality, and price. And there are many angling for the opportunity. Here are the most important considerations when evaluating orthopedic vendors:
Unique product offering helps differentiate you from the masses. There are many contract manufacturers that supply brands that have the same product in the larger competitors. So, select a vendor that has unique products that are preferably made in the USA. The unique features are also selling points that help sell the product and create positive patient outcomes.
A targeted product line keeps inventory in check and simplifies product selection for staff members and customers. Too many choices can be confusing and frustrating.
A reliable vendor with impeccable service levels in today’s market. Out-of-stock items can cost you more than time and money; it’s your reputation that counts most.
Training and support for staff members is essential when selling a premium product. It also helps solidify your position in the market as the top service provider within the referral community.
Eye-catching merchandising and sales tools help create a quality look and feel prior to a consumer engaging with the staff or sampling the product. Get started on the right foot with a positive first impression.
Equally important is consumer-friendly packaging that speaks to the product’s use and key features. This assists staff while reassuring the consumer they are receiving the correct product.
Nothing shows consumers more confidence than a solid product warrantee and satisfaction guarantee. Staff members will find this is their sales closer.
Competitive pricing must be a factor when making any purchasing decision. Get all the facts on terms, discounts, and shipping before making your final decision.
Wall Merchandising
It is important to create an inspiring shopping environment to develop that positive first impression. The combination of crisp, clean packaging and display accents make for an inviting display. Our modular designs allow for customization to each unique floor plan and wall space commitment. Let our design team work up a planogram for you. Give us your medi product selections and the square footage and we will do the rest. Here are some examples of our makeovers.
