Pros and Cons of Buying Eyeglass Closeouts

The Optical Journal - Optical News With Independent Views
Optical Closeouts

Both Shirley and I love closeouts- I buy clothes and other things at TJ Maxx, Marshalls and other discount stores. I even shop the ‘day old’ rack at grocery stores. As the economy and consumers tighten up their wallets- is this an opportunity for you? Buying eyeglass closeouts is a completely different purchasing and mark-up strategy. Closeouts have a certain risk factor, usually you buy in bulk and you can’t return. In many cases- you can’t pick out the product or styles. 

Pro’s of Buying Optical Closeouts

  • Great way to bring down cost of sales.
  • Financially Challenged?- Good way to fill up the Frame Board
  • Way to increase 2nd and even 3rd pair sales- or even offer a family plan
  • Offer quality eyeglass products for insurance programs
  • Way of getting free ink (Publicity) 
  • Good Promotional tool for optical marketing events
  • Provides a competitive edge against online eyeglasses sellers 
  • Provide- online sales strategy like selling on ebay 

Cons of Buying Optical Closeouts. 

  • No Returns
  • Parts availability may be limited
  • If not listed in Frames, could be a problem with insurance coverage  
  • Usually have to purchase a minimal amount. 
  • Don’t get to choose which products you want. 
  • Could get ‘stuck’ with slower movers
  • Having too much stock of close out frames may deter from your current and best selling products. 

How to Buy Closeouts

  • Educate yourself on Vendors who offer closeouts, price points, retail markups, warranty, and FRAMES listing. 
  • Inform all staff- many staff are opposed to closeout products and will hide, not show or promote the product. 
  • Set a Budget and a space allotment. 
  • Determine how are you going to use – promotional events, sale rack, 2nd pair sale promotion, Sunglass promotion, online sales 
  • How are going to price them? 
  • How are you going to warranty them?
  • If they don’t sell- how are you going to get rid of them- since you can’t return. 

Where to get Eyeglass Closeouts: 

IOT Camber Steady Plus - The Optical Journal