MedShift (Charlotte, N.C.), recently rolled out an expanded version of its all-encompassing online marketplace — the MedShift Store — featuring an increased range of complementary products and services, including top brands, device consumables, and product bundles. As the aesthetics market in the U.S. grows at 8% annually and is only 7% penetrated, the new MedShift Store offers practices a convenient way to grow and take advantage of the robust opportunity with a one-stop eCommerce solution. The company currently has partnered with over 42 aesthetic manufacturers, distributors and product partners, a portfolio of 113 devices, and over 2,300 customers. Joe Gasque, CEO of MedShift, emphasizes the store’s credentials as an authorized reseller, operated by a team with deep expertise in the aesthetic sector. “Our team not only sources additional revenue streams for practices to take advantage of, but also ensures the delivery of high-standard products and services from leading global manufacturers,” he stated.


The original MedShift Store provided a platform for customers to purchase consumables for their devices that were in a MedShift subscription model. “Our relationships with various manufacturers and distributors bolstered this initiative,” Mr. Gasque added, “Which enabled us to offer a range of offerings through an efficient e-commerce platform. In 2022, a second version of the store incorporated additional partners, and offered a wider range of both products and services aimed at enhancing efficiency and cost-effectiveness for practices.”

The newly relaunched third version of the MedShift Store continues this trajectory. “We have further broadened our range to include not just products, but also services like training bundles,” Mr. Gasque said. “The overarching goal is to offer practices operational efficiencies by becoming a one-stop solution, sparing them the complexity of dealing with multiple manufacturers or distributors. This allows them to concentrate more on patient care rather than on supply chain management. Key benefits of our expanded store include operational savings, enhanced offerings, and dedicated customer service support to guide practices through the process.”
 MedShift partners with globally recognized manufacturers known for their high-quality products and services. “Our relationships with manufacturers extend savings and perks to practices and medspas, which are usually available only to larger accounts directly from the manufacturers,” noted Sean Shapiro, Chief Commercial Officer at MedShift. “With over 20 years of experience in the industry, we bring a unique perspective from our time on the manufacturing side. We understand what is crucial to manufacturers, especially to drive sales and grow market reach. Manufacturers in the aesthetic industry often adopt an omnichannel approach to market their products, using a variety of strategies, such as sales teams, inside sales teams, and e-commerce platforms. MedShift complements these methods with its membership store, which enhances market penetration. Our strategy effectively extends the manufacturers’ reach into the rapidly growing aesthetic marketplace, especially as new practitioners enter the market. By collaborating with us, manufacturers can expand their reach without the need to increase their own team’s headcount, making the most of the truly omnichannel approach we offer. Our strong lineup of manufacturers is a testament to the effectiveness of our approach and the value we offer as a partner in the industry.”

The company’s successful approach to manufacturer partnerships, “Is based on trust,” Mr. Shapiro added. “Our expertise in technology has enabled us to create a fully functional e-commerce store. The MedShift Store opens up a sales channel targeting our database, built over the last eight years, which is currently 4,600, and grows at a rate of around 75 to 120 per month.”

A key feature is the company’s new loyalty program. “It is straightforward and user-friendly,” Mr. Shapiro said. “Customers earn points with every purchase, and they can redeem these points as dollar values. Points never expire, ensuring long-term value for our customers. What also sets our program apart is the flexibility in payment options. Recognizing that practices often face cash flow challenges, we offer various solutions to make purchases more manageable. We include options like installment payments, along with convenient methods such as Apple Pay and other services, including subscription models. This allows practices to make purchases without paying the full amount upfront, while still benefiting from our low-price guarantee and accruing loyalty points. This approach ensures that our customers can afford the products they need, even during financially tight periods.”

The MedShift Store’s value proposition extends beyond just product offerings. Mr. Gasque highlighted the dedicated customer service team at MedShift, geared towards helping practices fully leverage the store’s offerings, reducing costs and enhancing savings. “A significant aspect of our service is providing a dedicated customer service and sales team member to assist both practices and manufacturers in maximizing sales and savings,” he said. “MedShift's range of training and educational programs offer expert advice that enables customers to use their aesthetic devices and products effectively. We connect customers with a team of experts, offering mentorship aimed at enhancing revenue generation and optimizing patient outcomes.”
 Practice owners and manufacturers are responding well to the enhanced MedShift Store, expressed Mr. Shapiro, “Particularly with the creation of all-in-one bundles and service packages. These offerings are unique in the industry, providing savings and growth opportunities for practices, especially those within their first three to four years. Therefore, clinics and medspas can avoid the traditional constraints of committing to a single company with substantial financial outlay or purchasing supplies in bulk. Small business owners in the industry who are balancing their personal lives and business responsibilities often lack the time to source products or find the best prices. Recognizing this, we provide access to a wide range of products and services. The MedShift Store refines what it means to be a resource for the aesthetic and medical industry, offering both products and the essential support and knowledge that practices need to thrive.”

© 2024 Medical Insight, Inc.
 

Inside the MedShift Store

The MedShift Store offers a wide selection of aesthetic supplies and products, featuring a one-stop-shop type of e-commerce platform, and including a loyalty program, exclusive product bundles, education and training programs, and flexible payment options for practices and medspas.

The original article can be viewed here on the Aesthetic Insights website.