Lenskart is an online eyewear store and it provides a wide range of eyewear products.
It has a diverse collection of eyewear brands and it has a sound marketing strategy.
I will write a detailed lenskart case study based on their website, products and marketing strategy in detail in this blog.
The dramatic entry by Lenskart to the Indian optical industry landscape marked a paradigm shift in how the business was conducted.
The traditional model of doing business through brick-and-mortar stores was still the norm in India’s optical industry.
To purchase glasses, lenses, contact lenses or sunglasses, one must visit an optical shop or other retail shops .
Many optical shops offered eye checks for customers’ convenience, which helped to attract new customers.
While E-commerce was quickly gaining popularity and online shopping was rapidly catching up during this time, it mainly focused on household products and appliances, food and groceries, as well as clothing, footwear and jewelry.
It also offered electronic gadgets, such as smartphones and other digital devices. Online shopping was limited to sunglasses.
The Lenskart founder was a genius in providing more purchasing options for consumers.
This helped establish Lenskart credibility and allow consumers to buy eyewear online.
This approach was similar to selling new concepts first, then inviting consumers to buy eyewear online.
Lenskart is an online and offline distribution channel. It is also one of the most popular ecommerce brands.
Customers can order Lenskart products through Lenskart’s imaginatively designed offline stores.
Lenskart is a fast-growing business network in India. It has more than 120 cities, over 500 stores that are profitable, and more than 50 million satisfied customers.
It is registered with Valyoo Technologies, its parent company. Lenskart app has the largest selection of eyewear, and is the most popular online shopping app.
It offers a wide range of eyewear including computer glasses and reading glasses.
The collection also includes contact lenses, anti-glare goggles and specs.
Founders Of Lenskart
Peyush Bansal: He was born 26 April 1985 and holds a Bachelor’s Degree in Electrical Engineering, IT Control & Automation, McGill University, Canada.
After completing his graduation in 2006 he completed his PGD in Entrepreneurship at IIM (Indian Institute of Management), Bengaluru.
He joined Microsoft in the USA as a program manager shortly after completing his PG.
After serving there for about 11 months, he returned to India to follow his dream of being an entrepreneur. Before Lenskart was launched, he had founded around five companies.
He founded Valyoo Technologies, his company during his IIM days. With Rs.
It was a huge success and attracted a staggering 25,00,000. It was an online classified portal that students could use to solve their problems.
You can find part-time work, carpool, internship opportunities, coaching books, and many other things.
He discovered that the eyewear market was very underdeveloped.
In June 2009, he launched Flyrr.com, an online shop. It sold contact lenses and sunglasses.
The store was primarily focused on the US market, but he decided that he could replicate the model in India and launch Lenskart in 2010.
Neha Bansal: She is also a co-founder at Lenskart. Before joining Lenskart, she was a partner in Vinod Kumar and Associates.
Amit Choudhary: Cofounder of Lenskart. Amit Chaudhary, a Computer Science Engineer at BITs Mesra in Ranchi, is also a co-founder.
He loves to travel and has a passion for it. He is a Kolkata native and attended Bharatiya Vidya Bhavan School.
He has made revolutionary changes to the business through his deep understanding of technology as well as his innovative ideas.
Sumeet Kapahi: a student at Delhi University, was previously a business development manager for Luxottica India Eyewear Rayban before joining Lenskart as one of its co-founders.
Lenskart Swot Analysis
- 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
- Indian public is still not open to purchase eye-gear online
- Expansion in new markets: international markets
- Development of new concepts
- Increasing online sales
- 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
1. Inventory Based
company system The business model is based on inventory. Lenskart provides thousands of frame designs and 45+ quality lenses for customers.
The company reveals the designs to its suppliers. In the process of developing items, Lenskart is focused on high-end design, durable, broad variety, ingenuity and even services like an in-depth 3D-based testing lab.
Lenskart utilizes German imported robotic technology that has resulted in Lenskart the sole Indian company to manufacture products with a precision that can reach 3-decimals.
2. Advertisement on Google (Google ads)
Google advertisements are among the most efficient strategies for companies in the present digital age.
Lenskart employs this strategy as well and also invests money in ads on Google. It makes use of popular keywords such as frames, eyeglasses, sunglasses as well as computer-related glasses.
It also advertises its products by using overpriced Google Shopping ads, where the user can also decide to take action.
Lenskart utilizes Google advertisements through video ads, display ads and app download advertisements as well as others.
3. Social Media campaign
They use Facebook and Instagram advertisements to promote their services.
Lenskart also makes use of traditional advertisements such as TV ads, newspaper advertisements, email marketing and many more.
These tin-based actions have allowed the brand to grow into a well-known and respected brand of eyewear in India
4. Multi-channel retailer Business Model
The company analyzed Indian mentality and observed that many people are wary of purchasing eyewear on the internet.
This is why it decided to establish bricks and mortar shops in India.
The company provides services that are available online as well as offline. It currently has 550+ locations spread across 30+ cities.
Lenskart Website is optimized for user-friendliness. The site has a solid seo and receives 1.8 million monthly visitors.
6. Concentrate on quality and cost Focus on quality and price
Lenskart was aware of the existing issues that existed in the Indian market. It was focused on launching new and affordable products that did not compromise on the quality.
“Lenskart Blu” is one of their most innovative products that shield the eyes against harmful ultraviolet radiation.
They also offer a wide selection of ultra-light, unbreakable and super-flexible glasses under the style”Airflex” “Airflex”.
7. Celebrity endorsements
Lenskart’s products do not provide a cure for eyesight. However, they also provide a style message for the customer.
So the brand promotes celebrities to appeal to the younger crowd.
First brand ambassador for Lenskart was Katrina Kaif followed by Bhuvan Bam.
Lenskart is associated with a variety of popular high-end brands such as Ray-Ban, Vogue, John Jacobs among others.
It allows customers to have access to a broad variety of high-end products in one place.
8. Franchises that operate offline
In the year 2014 Lenskart began to open offline shops to advertise its products.
The company took on the franchise model to cater to customers across India.
The company has now more than 720 stores across India and is planning to expand its reach.
The franchise business model has boosted the presence on the internet of Lenskart with the least expenditure.
In the event of the covid-19 pandemic the majority of businesses had to close their shops. and then go online.
However, Lenskart did something bold by opening up more than 300 stores to create an overall total of 1000 stores.
Lenskart is focused on bringing more customers via its stores that are not physically located.
9. Virtual reality technology
Lenskart gives a live experience to customers using its application.
The brand introduced its first-ever 3D test-on feature through a partnership with a start-up company in California called Ditto.
The feature allowed the user the opportunity to test any image in virtual real-time.
Peyush Bansal believed the feature an extremely successful marketing strategy. It brought more than 15,000 users each per day on the Lenskart website.
10. B2C model
B2C refers to Business-to-Customer. It is an e-commerce method which eliminates middlemen in order in the sale of products.
Lenskart utilizes this strategy to sell its goods through its websites as well as its mobile application.
This B2C model has allowed the company to create products that are affordable for everyone.
It gathers feedback from customers to better understand their behavior in marketing.
Lenskart has partnered with a variety of logistics firms, such as BlueDart, Delhivery, etc. for quick delivery services.
It assures prompt and secure delivery of their products to customers.
11.Modern eye testing
Lenskart offers the latest in technology eye testing for its customers in their stores and at their home.
The equipment used to test eyes is imported from the USA which is more efficient than traditional equipment and tools employed in India.
The customer must book an appointment for testing their eyes and an experienced optometrist will come to their home to complete the process of testing.
12. Discounts that are attractive
Lenskart has researched Indian attitudes and has realized that the local population is excited by discounts.
This is why the company has exciting discount deals and offers.
They also offer special discounts, such as free eye exams, giving the first frame at no cost to new customers and many more.
The test at home facility is a unique offer by itself. The specialist in eyewear carries with him the most popular frames available for customers to test in their own homes.
Discounts and offers have proven to be among the most effective strategies for marketing and have brought many customers to the site.
Lenskart is recognized among the most prestigious startups in India because of its distinctive marketing strategies.
It was also included in the ” Top 10 promising e-commerce Indian startups in 2021″ by the Indian Wire.
The company has won millions of hearts through providing the most effective eyewear options to the masses.