The Evolution of HME Retail a Great opportunity GAMES 2012 Annual Convention August 6 th 2013 By:...
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Transcript of The Evolution of HME Retail a Great opportunity GAMES 2012 Annual Convention August 6 th 2013 By:...
The Evolution of HME Retail a Great opportunity
GAMES 2012 Annual Convention
August 6th 2013By: Jim Greatorex
HME Retail Topics Discuss the Retail Vision and Culture Discuss the opportunity and market What product catagories have the best
potential and what SKU’s move Marketing to all potential customers Hiring and retaining Great retail staff
When you want to sound intelligent steal some quotes!
"The mighty oak is just a nut that held its ground."
"To accomplish great things, we must not only act, but also dream, but also believe.“
"Every vision is a joke until the first man accomplished it; once realized,
it becomes commonplace."
Opportunity is all around you
If you don’t like change, you will like irrelevance less
Think about turning yourself into a marketing company who happens to sell HME
HME Retail - what is it
Retail- the sale of goods to the public in relatively small quantities for use or consumption (Oxford Dictionary)
HME Retailer- A company who sells and markets Health and Wellness aids to the general public in their store at a price in which consumers will buy.
The Myths to HME Retail
You are limited in what you can sell by Medicare rates and rules
Nobody will buy the bigger ticket items
You must bill insurance for everything possible
The product offering is limited and therefore so is the market
HME Retail is evolving Where competitive bidding is stifling
innovation in HME, retail is where the new technology is at
We are where people go to get products, advice, training, a trait that embraces the local company
For success we must be great marketers, product experts, and have great execution
Seize the opportunity
We must bring new technology to new prospective customers
Retail Marketing is different and evolving
Seek out new technology We must have great retail sales
people We must be marketing 24/7
The Retail Culture You can’t be afraid to ask people to
pay for things The philosophy should be gauged
around bringing people into the store. STOP DELIVERING EVERYTHING!
LIVE, EAT & BREATHE ABN’S Incorporate what you already do
well into retail opportunities.
KNOW YOUR MARKET
ROBUST SENIOR POPULATION? HOW MANY ASSISTED LIVING
PLACES AVAILABLE REASONABLE
COMMERCIAL REAL ESTATE MAKE YOUR EXPECTATIONS MATCH
YOUR MARKET
WHO’S REALLY BUYING 35-55 YEAR OLD
WOMEN!! SOME OF MY
FAVORITE PEOPLE!
ACTIVE SENIORS
AND…..
YOUR EXISTING CLIENTS
Traditional SKU’s you move STAIRGLIDES SEAT LIFT CHAIRS ROLLATORS SCOOTERS ORTHOPEDIC SOFT
GOODS SUPPORT HOSE PRIVATE RENTALS SAD LIGHTS TUB SEATS BP SETS &
STEHESCOPES
TRANSPORT WHEELCHAIRS
BEDS ALL TYPES POWER WHEELCHAIRS FOOTCARE MANUAL WHEELCHAIRS CANES PILLOWS HOT/ COLD PRODUCTS 20% OF DME PRODUCTS AIR PURIFIERS HELP ME I CAN’T GET UP POP DISPLAYS
New Markets to consider
Wellness and Pain Relief Products Incontinence Diabetic’s Accessibility Patient Handling Recurring Cash Sales
The Pain Market
30% of all US Adults greater then 18 years old report having Joint pain or stiffness
17% report the pain in the knees 9% report the pain in the shoulder A recent report stated that 116
million Americans have on-going pain issues
Back Pain is everywhere! In the United States, back pain is
reported to occur at least once in 85% of adults below the age of 50. Nearly all of them will have at least one recurrence. It is the second most common illness-related reason given for a missed workday and the most common cause of disability. Work-related back injury is the number one occupational hazard.
Customers Pay for Pain Relief! Find Products that
are proven helpful in helping people relieve pain
Everybody Sleeps! Compliment this
line with back, neck, knee, and cervical pillows
Look for New Technology
New Products New Referrals Find niche products that require sales
expertise Inside- Out Approach Must develop an outside promotion
program Doctors do not like to prescribe non-
covered items Do we truly know how to prospect? Inside sales people need to be product
experts
Best Marketing Opportunities
Home Shows Sales people calling on referrals for
retail products! In store promotions Web Site Promotion Infomercials
Incontinence and Diabetes
8640 Baby Boomers turn 65 every day Retail Incontinence is a 3 Billion dollar
market per year Figure out how to capitalize 23.6 Million People have Diabetes-8% Be the resource for their cash needs
Accessibility Products
People will pay for these products in order to stay in their home
Sell, rent, and buy back these products
Promote in Senior Publications, print, web site, and with Contractors
Know your competition
Patient Handling Products
This product line has a corporate and in home market
Hospitals and Nursing homes have Capitol budgets for these products.
Stimulus Money was made available specifically for this
Market to health facilities and online
Keep the Senior Home Help me I’ve fallen and can’t get up
products All the staples, Bath Safety, Seat Lift
Chairs, Transport chairs, etc.. Many sales of these products are the
introduction to the future products Would you like some steamed
mushrooms with that FOOD???
The Internet and HME Retail
Internet hits for HME retail products are on the rise.
Internet sales are slowly rising Baby Boomers are a common web
buyer Get on staff person to be your
companies web master
Demands on Manufactures Demand some market exclusivity Demand protected web pricing. Demand Sales Training In turn, we must give them a planned
detailed marketing plan and follow through.
Our best chance for continued success is promoting products that require a trained sales person
HME Sales Employees tips Don’t make it the bottom rung of the ladder Train them to be product experts Great hires are Big Box Store workers Average pay between $28-35K Build in spiffs and bonus programs Give them ownership on in-store marketing $30-35k per mo. Retail sales volume is a
goal
Questions?
Visit us in Portland Maine Contact info:
Tel# 207-400-8023 Happy retailing