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Why Not Best? Boomers Want it and Will Pay for It

Posted on in Growth Strategies

By Staci Langel, VGM Retail Services

We’ve heard it time and again: baby boomers are changing the game of HME. From being more internet and tech savvy than the generation before them, to being more physically active and wanting to stay young and healthy for longer, baby boomers are causing us as an industry to shift to accommodate them. But, there’s one thing about baby boomers many of us haven’t thought about: Boomers want the best and can and will pay for it.

Here’s what we know:

  • Boomers control the majority (70 percent) of the nation’s wealth.
  • The percentage of revenue received from Medicare has dropped 15 percent in the last eight years.
  • Boomers are more concerned with quality, comfort and style than preceding generations and are willing to pay more for things they WANT, not just what they NEED

Help Your Staff to Excel

While offering high-end, cash health and wellness, pain management and daily living products is a start, a sales program and customer service training around these products are the keys to success. The VGM Retail Services team secret shops in stores every day. Some of the biggest selling faux pas we see are “feature-dumping,” not taking the time to build a relationship and immediately telling the customer the items they’re looking at aren’t covered by insurance.

With a “why not best” selling program, these types of situations won’t convince a boomer to buy big. Train your staff in these five areas to help them excel:

  • Build a relationship.
  • Explore and understand their unique situation.
  • Listen to the customer and ask questions.
  • Suggest a bigger and better solution.
  • Be honest, upfront and ask permission.

To ensure your staff continues to hit these points, have a trusted friend or someone unfamiliar to your staff or even the VGM Retail Services team to secret shop your store. Do your employees stay cash focused? Do they recommend add-on products that will make life easier? Are they in the “Why not best” mindset?

What are Some of the Best?

The following retail products would be a great addition to your product mix and high-end sales program:

Vionic Shoes

Most people – active boomers especially – have some sort of foot, ankle, knee or back pain that can be eased with supportive shoes. But no one – especially boomers – want to wear ugly, old fashion orthopedic shoes. With podiatrist-designed technology built into each pair, Vionic creates stylish shoes that feel great, too…perfect for boomers.

Golden Technologies – DayDreamer Lift Chair

Golden Technologies’ DayDreamer, featuring the exclusive PowerPillow™, pairs incomparable position control with style, design and comfort of a recliner. Baby boomer customers will love that they can have the ease of use and the comfort of a lift chair without sacrificing their personal style.

ComforTek- Titan Swivel Chair

Similar to the lift chairs, ComforTek’s swivel chairs are stylish and beautifully designed so as not to look like a mobility product. With easy movability and locking swivel features, it allows users to comfortably move to and from the table.

Are You Asking Yourself, “Why not best?”

Are you asking yourself, “Why not best?” Come join us at an upcoming Retail Services Roadshow and find out why you should be. Vionic, Golden Technologies, ComforTek and several other of our supplier partners will be there to show off their products and answer any questions as part of the day-long, retail-focused education session. There’s a Roadshow scheduled for next week – Tuesday, July 19 – in Louisville. We’ll follow those up with Roadshows in Dallas on Sept. 13 and Atlanta on Oct. 31 (during Medtrade Fall). To learn more and to register for one of these events, please click here. We look forward to seeing you!

 

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