Cy Corgan: Yes, retail sales can grow
Thanks to the shaky economy, consumers are saving more and buying less, but that's no reason for providers to let retail sales fall by the wayside, says retail mobility expert Cy Corgan. With effective marketing, providers can drive traffic to their stores and increase revenue. In his Medtrade session, "Retail Mobility--Best Practices for Success in a Turbulent Economy," Corgan will share his strategies for retail success.
HME News: Why focus on retail mobility, as opposed to retail for other product
Cy Corgan: Baby boomers are willing to pay cash for products, such as lift chairs and scooters, that will help them maintain their busy lifestyles. The business growth providers can attain via cross-selling opportunities alone are highly beneficial.
HME: Why is retail important in a turbulent economic climate?
Corgan: People are focused more on purchasing products they need vs. products they want. If a provider can offer a consumer financing plan, they can gain a strategic advantage in the face of a turbulent economy.
HME: How can providers advertise without going broke?
Corgan: E-mails to the existing customer base is an easy way to get the word out about retail products. If you are an oxygen provider, putting bill stuffers in your oxygen invoices are a simple way to advertise new products. Also, take advantage of merchandising materials available from manufacturers.
HME: If providers only have the time and the money to use one marketing tool, what should it be?
Corgan: Referral-based education. Since this is an ongoing strategy, it does not require any additional resources.
HME: How important is presentation when it comes to retail mobility?
Corgan: By making a showroom feel like a customer's home environment, providers are allowing customers to visualize themselves using the products at home. Using a showroom plan-o-gram is the best way to maintain your floor space.
HME: If providers take away one thing from your session, what should it be?
Corgan: If providers are going to focus on retail, they need to commit the resources to making it a success.