Do you use a lab that offers you 50% off a customer’s second pair? If so, it’s obviously a good deal – compared to paying full price for both, that is. But how good of a deal is it really?
If the first pair and the second pair are the same price, you’ve gotten a 25% discount on the total purchase, allowing you to give the patient a second-pair discount, book some extra profit, or some combination of the two. But consider this: on average, only about 10% of patients buy a second pair at the same time as their primary pair. Even if your second pair rate capture rate is double that, the 50% discount on second pairs only amounts to 5% of your total lab bill, minus whatever second-pair discount you offer the patients. While a 50% discount always has a large perceived value, in this case the impact to your bottom line is much, much smaller.
Nonetheless, a discount is a discount. But at GSRx, we offer state-of-the-art lens and coating technology, and it’s always 40-50% off a typical lab bill. (We have lots of customers who will attest to those savings; look here if you want to read what they’ve said. Since our product are equivalent to (or better than0 any lab’s premium offering, this means that you’re getting up to a 50% discount on every pair. That gives you a lot more flexibility to make eyewear (including second pairs) more affordable for your patients, while maintaining or increasing your profitability.
We love the fact that we can offer you the best in optics for what it should cost. But we also love the fact that the perceived and actual value of our offering is the same. That kind of honesty helps our Marketing department sleep better at night. And saving $5,000 per month on your lab bill might help you sleep better, too.