It’s crucial that your frame brands align with your patient demographic.
How can you ensure your range plan or frame brand mix is effective?
To guide your decision-making on which frame brands to carry and in what quantities, consider the following checklist as a starting point for your range planning process:
- What steps do you take to create a balanced mix of brands for your customers?
- How do you identify your patient demographic, and what criteria do you use?
- How often do you review your product mix, and what is the process?
- How do you manage your product spending? Do you have a budget, and how is it determined?
- Can you describe your retail pricing strategy? What formula do you use, and do you always price based on margin or sometimes on volume potential?
- How do you manage the replenishment of best-selling items? Do you utilise ProSupply for supply and fit solutions?
- Does your display mix accurately reflect your sales mix (e.g., gender split, styling categories)?
- What is the ideal balance of value, fashion, and premium brands?
- Is there a logical price point progression in your overall pricing and ranging strategy?
- Does your brand mix provide good cross-sell opportunities (e.g., alternatives for similar styles)?
- Are you confident that there are no styling gaps (e.g., women’s petites for progressives, men’s metals, prescriptible sunglasses, diverse color options)?
- Which brands are your slowest movers, and why do you believe they still hold relevance? What is your plan for these brands?
- Are you aware of which suppliers are committed to supporting you with local marketing activities?
- What products do you purchase outside of Preferred Suppliers, and why?
- Is there an opportunity to source similar products from within Preferred Supplier partners?
- Would newly appointed Supplier brands introduce something fresh to your consumer offering?
- How many Preferred Supplier partners have you yet to meet with to review their ranges?
- Could you be acquiring Preferred Supplier brands at a better price than some of your existing brands?
