Last week Neiman Marcus released their 2011 Christmas Book. To put this in perspective, this book is like the Toys R Us big book for adults. Adults who happen to have a lot of money! The link below will get you to the book and if you look on page 170-171, you’ll see a special limited edition Ferrari designed just for Neiman Marcus that includes a matching set of luggage. Price tag (drum roll please) $395,000. And it will not ship until 2012. I understand that they sold 10 of these vehicles within the first 30 minutes that the book was released.
So what does that have to do with us? I often hear colleagues discuss that patients will not spend above a certain amount on their glasses. That the economy is driving their business and what type of inventory they should carry. I believe that we should not prejudge. I understand that many people are watching their money closely. I agree that managed care does affect people’s buying habits. However, you cannot sell expensive frames if you do not have them in your office. The experts tell us that if you have high end frames, it makes it easier to sell your mid-priced frames because it raises the average price of frames in your office. No doubt that Neiman’s has created an image over the years that make them stand out from the rest of the retail world. But if Neiman Marcus was driven by a desire to cater to just the Black Friday crowd, they never would have sold $3,950,000 worth of cars in 10 minutes. What can you do in your office to stand out from the rest of the pack? Hmmm…….does Ferrari make frames?
Keep in touch,
Dr. Roland Montemayor