Clear Vision, Clear Strategy: Unraveling Lenskart's Marketing Success Story and Strategic Brilliance

"Revolutionizing Vision: A Glimpse into Lenskart's Success in India's Optical Industry"

In the evolving landscape of eyewear preferences in contemporary India, Lenskart emerged in 2010 as a transformative force. Catering not only to the practical need for vision correction but also capitalizing on the growing trend of eyewear as a fashion accessory, Lenskart disrupted the traditional optical industry with its online platform. Offering a diverse collection of eyewear brands and a comprehensive range of products, Lenskart strategically positioned itself as a one-stop destination for prescription glasses, BLU glasses, frames, and goggles.

The entry of Lenskart marked a departure from the conventional brick-and-mortar model that dominated India's optical industry. Traditionally, optical purchases required physical visits to stores, where eye checks were often offered to attract new customers. However, Lenskart seized the growing popularity of e-commerce in India, providing a convenient online platform for eyewear shopping.

While e-commerce was gaining traction across various sectors, Lenskart's focus on eyewear addressed a gap in the online shopping market. Unlike other e-commerce platforms primarily offering household products, electronics, and clothing, Lenskart revolutionized the eyewear shopping experience. This case study will delve into the intricacies of Lenskart's website, product range, and marketing strategy, unraveling the key elements contributing to its success in reshaping the optical industry landscape in India.

About Lenskart

Founders Of Lenskart

Lenskart SWOT Analysis

Marketing Strategy Of Lenskart

Lenskart - How it Works?

Lenskart - Mission and Vision

Lenskart - Product and Services

About Lenskart

The genius behind Lenskart's success lies in its visionary founder who revolutionized eyewear retailing by providing a plethora of purchasing options for consumers. This strategy not only established Lenskart's credibility but also facilitated the shift towards online eyewear shopping.

Lenskart's approach mirrors selling new concepts before inviting consumers to embrace online eyewear purchasing. Operating through both online and offline channels, Lenskart has become one of India's most popular e-commerce brands. The brand's offline stores, creatively designed, serve as additional touchpoints for customers to explore and purchase Lenskart products.

As a rapidly expanding business network, Lenskart boasts a presence in over 120 cities, with more than 500 profitable stores and a customer base exceeding 50 million satisfied individuals. Registered under Valyoo Technologies, its parent company, Lenskart's app stands out as the go-to platform for eyewear shopping, offering the broadest selection, including computer glasses, reading glasses, contact lenses, anti-glare goggles, and regular eyeglasses. The brand's comprehensive approach and commitment to customer satisfaction have positioned Lenskart as a leader in the eyewear industry in India.

Founders Of Lenskart

Peyush Bansal, born on April 26, 1985, is the visionary founder of Lenskart with a Bachelor’s Degree in Electrical Engineering from McGill University, Canada, and a PGD in Entrepreneurship from IIM Bengaluru. After a brief stint as a program manager at Microsoft in the USA, he returned to India to pursue entrepreneurship, founding Valyoo Technologies and successfully launching various ventures.

Neha Bansal, another co-founder, previously served as a partner at Vinod Kumar and Associates. Amit Choudhary, a Computer Science Engineer, also co-founded Lenskart, bringing innovative ideas and a passion for travel. Sumeet Kapahi, a former business development manager at Luxottica India Eyewear Rayban, joined as a co-founder.

Lenskart originated from Peyush Bansal's realization of the underdeveloped eyewear market. Initially launching Flyrr.com in 2009 for the US market, he replicated the model for India, leading to the establishment of Lenskart in 2010. The co-founders collectively brought diverse skills and expertise, propelling Lenskart to become a major player in the eyewear industry.

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Lenskart Swot Analysis

STRENGTH

No big Competitor

Advanced and patented technology usage

Strong presence in the e-commerce business

Strong brand portfolio

Strong identify & brand image

Trendy store layout

High quality products

WEAKNESS

Indian public is still not open to purchase eye-gear online.

OPPORTUNITY

Expansion in new markets: international markets

Development of new concepts

Increasing online sales

THREATS

Competitive or fluctuated e-commerce

Change in government regulations

Product prices may be too high for certain demographic groups to afford

Marketing Strategy Of Lenskart

Lenskart, a leading eyewear brand in India, employs a multifaceted marketing strategy to establish its strong presence in both online and offline channels. The company's business model revolves around an inventory-based system, offering a vast selection of frames and lenses with a focus on high-end design and durability. Key aspects of Lenskart's marketing strategy include:

1. Google Ads: Lenskart invests in Google advertisements, targeting popular keywords related to eyewear. This includes Google Shopping ads and various ad formats like video, display, and app download ads.

2. Social Media Campaigns: Utilizing platforms like Facebook and Instagram, Lenskart runs extensive social media campaigns alongside traditional methods such as TV and newspaper ads, fostering brand recognition and trust.

3. Multi-Channel Retailing: Recognizing consumer hesitancy to buy eyewear online, Lenskart strategically operates both online and offline stores. With 550+ locations in 30+ cities, it caters to diverse customer preferences.

4. SEO Optimization: Lenskart's website is optimized for user-friendliness and solid SEO, attracting 1.8 million monthly visitors.

5. Focus on Quality and Cost: Lenskart addresses market issues by launching affordable yet high-quality products, including innovative offerings like "Lenskart Blu" and ultra-light, unbreakable glasses under the "Airflex" style.

6. Celebrity Endorsements: Engaging celebrities like Katrina Kaif and Bhuvan Bam, Lenskart taps into popular culture to appeal to a younger audience and collaborates with renowned brands like Ray-Ban and Vogue.

7. Franchising Offline Stores: Since 2014, Lenskart has strategically opened offline stores using a franchise model, expanding its presence to over 720 stores. This approach proved resilient during the COVID-19 pandemic.

8. Virtual Reality Technology: Lenskart provides a unique live experience through its app, introducing a 3D test-on feature in partnership with Ditto, attracting a significant daily user influx.

9. B2C Model: Adopting a Business-to-Customer model, Lenskart eliminates middlemen, selling directly to consumers through its website and mobile app, offering affordability and prompt delivery.

10. Modern Eye Testing: Lenskart employs advanced eye-testing equipment imported from the USA, offering customers the latest in technology for accurate eye examinations in stores and at home.

11. Attractive Discounts: Leveraging the popularity of discounts in India, Lenskart offers enticing deals, including free eye exams, complimentary frames for new customers, and unique home testing services.

In summary, Lenskart's success is attributed to its innovative blend of online and offline strategies, celebrity endorsements, technological advancements, and a commitment to quality, affordability, and customer satisfaction.

Lenskart - How it Works?

Lenskart, a prominent player in the eyeglasses market, distinguishes itself through a seamless online and offline purchasing experience. Offering easy ordering, regular discounts, and home delivery services, Lenskart stands out with its unique physical storefronts. The company's innovative 'Home eye checkup' service, powered by specialized robots, ensures precise eyeglasses with accuracy up to three decimal places.

Lenskart's extensive product range includes over 5000 models, covering eyeglasses, contact lenses, reading glasses, and sunglasses. Prioritizing customer satisfaction, Lenskart provides free home delivery and a 14-day replacement guarantee, contributing to its success. The company's value proposition revolves around delivering premium eyeglasses at affordable prices, combining innovative designs, a diverse product selection, and customer-centric business practices to redefine the spectacles shopping experience.

Lenskart - Mission and Vision

The company mission is to "provide every Indian access to high-quality designer glasses without shelling out their pocket."

The company vision on the website states, "A world where eyewear helps you."

Lenskart - Product and Services

Lenskart has over 5,000 frames and glasses to choose from, as well as over 45 different types of high-quality lenses. Its product offerings range from -

Eyeglasses

Premium Eyeglasses

Sunglasses

Shape options: Wayfarer, Oval, Rounders, Cat Eye

Size options: Small, Medium, and Large

Brands: Bausch and Lomb, Johnson & Johnson, Alcon

Color Contact Lenses, and more

FAQs

What does Lenskart do?

Lenskart is a leading e-commerce company that creates an online optical store that sells a variety of eyewear. Customers will get the new eyewear collections with free home delivery through the company's marketplace, which offers prescription eyewear, branded contact lenses, sunglasses, and accessories.

Who founded the Lenskart company?

Peyush Bansal, Amit Chaudhary, and Sumeet Kapahi founded Lenskart.

Who is the Lenskart CEO?

Peyush Bansal is the CEO of Lenskart.

Which companies are Lenskart competitors?

Lenskart is up against both offline and online competitors. GKB Opticals, Coolwinks, Specsmakers, Deals4Opticals, Lensbazaar, Vision Express, and Titan Eyeplus are some of its key competitors.

What is Lenskart gold membership?

Lenskart membership is a Gold Membership program that allows you to get a free pair of glasses every time you buy a pair of Eyeglasses, including Lenskart power glasses, Lenskart spectacles, or Sunglasses at Lenskart until your gold membership is still valid.

Who is the Lenskart delivery partner?

Lenskart delivery partners are among the most reputed courier services in India including BlueDart, FedEx, DTDC, and more.

What are the problems faced by Lenskart?

Initially, Lenskart encountered three primary challenges: determining accurate prescriptions, finding the right fitting glasses, and enabling customers to visualize how the glasses would look on them.

What is the unique strategy of Lenskart?

They recognize that their customers hail from various income brackets, each with unique needs and expectations. As a response to this diversity, Lenskart employs a value-based pricing model. This means that their products are priced in accordance with the value they offer to their customers.

What is the slogan of Lenskart?

We've got it all. Just for you.

Who is the first brand ambassador of Lenskart?

Synopsis. Kaif will also be the first brand ambassador for the company, which has raised about Rs 600 crore in funding since 2010. NEW DELHI: Eyewear solutions company Lenskart has roped in Bollywood actress Katrina Kaif as its brand ambassador.

What is the main product of Lenskart?

Lenskart Is The Leading E-Commerce Portal For Eyewear In India.

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