Close

VGM’s Retail Science Roadshows Help Members Battle the Big Box Guys

Posted on in Growth Strategies

By Rob Baumhover, director of Vendor Programs, VGM Group, Inc.

“Why would we want our clientele purchasing from Walmart, Walgreens or Amazon when they could be purchasing from us?”

We’ve been hearing questions like this from members all over the country. And, it’s generally followed by a question like, “But, how do we get them to do it?”

We recently got a chance to sit down with a Retail Science Roadshow attendee and got their thoughts on the event and the industry as a whole. The insight they shared answers these questions perfectly.

VGMR: “What motivated you to come to a Roadshow?”

Member: “The industry has changed so much over the past five years, almost a complete 360 degree of sorts. So, in order to run a successful medical supply company, you’re required to stay at the forefront of these changes. I believe that having a retail presence is one of the most important evolutions of the medical supply industry. With lowering reimbursements and more detailed coverage criteria, having cash-only retail items makes it fun again. Let’s face it, at the end of the day, retail is just more fun!”

VGMR: “How did you become interested in retail for your medical supply company?”

Member: “I believe this industry thought it would never need to be a retail powerhouse, as most of the sales were generated from our referral sources. That no longer is the case. To survive, we need to understand the science of retail and do our very best to perform like a ‘big box retailer.’ I’m not there, but I sure am trying. And, the Retail Roadshow is exactly what I needed to spark my interest and love of retail.”

VGMR: “What’s your biggest take away from the Roadshow?”

Member: “Currently, we are in desperate need of more focused marketing. I think my biggest takeaway was the importance of creating a game plan and getting it up and running. It isn’t just about creating a beautiful showroom. It’s that plus marketing, training, customer service, great products, location and so much more. Retail truly is a science.”

VGMR: “Any other thoughts you’d like to share?”

Member: “Educational and fun…what else can I say? The industry needs all the help it can get at this point. With the demographic tipping in our favor, now is the time to grasp onto retail and ‘caretail’ as many customers as we can. Why would we want our clientele purchasing from Walmart, Walgreens or Amazon when they could be purchasing from us?”

We couldn’t have said it better ourselves!

One suggestion for the event this attendee did have: “More freebies and samples!” We’ll work on that, we promise!

There are two more Retail Science Roadshow opportunities in 2016: Dallas on Sept. 13 and Atlanta during Medtrade on Oct. 31. Click here to register and for more information.

 

Tags: