“Disrupt the status quo. Challenge the norm. Innovate. Lead.”
In 2010, the eyewear business in India was dominated by traditional opticians. Previously, getting an eye exam involved a separate visit to an ophthalmologist or optometrist. These professionals didn’t usually have a wide selection of frames on hand. Customers then approached traditional eyewear stores and again had to choose between limited frames that were generally out-of-date and came at a higher price, leaving considerable room for a more customer-centric approach. Two ambitious graduates from the country’s well-known Indian Institute of Technology Delhi, Peyush Bansal and Amit Chaudhary, saw this gap and embarked on a journey to change how Indians buy and use eyeglasses.
A Vision for Radical Change
Peyush Bansal and Amit Chaudhary’s journey began with meager initial funding and an emphasis on contact lenses. However, their ambitions extended beyond that. They envisioned a platform that would make trendy glasses more affordable to everyone, a dream that soon came true with the creation of their brand Lenskart.
Lenskart’s innovative strategies revolutionized the eyecare industry by addressing the difficulties of eyewear and making it popular in the market.
Streamlining Online Eyewear Shopping
In a world increasingly reliant on digital convenience, Lenskart recognized the potential of e-commerce to revolutionize eyewear shopping. The biggest challenge for consumers for buying glasses online was that they were unable to try them on physically before purchasing them. To rise above this obstacle, Lenskart took a step forward in 2013 by launching an innovative virtual try-on tool. The uniqueness of such a feature allowed customers to take photos of themselves allowing them to see what wearing different lenses would look like on their faces virtually. Lenksart created the very first revolutionary experiment called “virtual trial rooms.” It was not only the response to one of the consumers’ questions but also laid the groundwork for the further success of Lenskart itself.
Lenskart’s website and mobile app offer a user-friendly interface, allowing customers to easily browse the collection of frames and lenses. It had detailed descriptions of the glasses, high-quality images, and a revolutionary virtual try-on feature which allowed customers to browse and make informed decisions from the comfort of their homes. The virtual try-on eliminated the guesswork of online shopping and fostered confidence in choosing the perfect pair.
Quality Eyewear, Affordable Options
Lenskart changed the traditional eyewear market by providing high-quality glasses at affordable prices, which helped gain budget-conscious customers. They did this potentially by cutting out middlemen and managing production themselves, investing in in-house and co-designing for trendy styles, and offering a variety of price ranges plus frequent promotions to reach a larger audience with good quality glasses.
Omnichannel Overlook
Lenskart understood that a successful eyewear business in the digital age required a blend of online convenience and physical accessibility. They spearheaded an omnichannel strategy, seamlessly integrating the two. In 2015, they opened their first physical store, marking a pivotal moment in their growth trajectory.
Today, Lenskart has an expansive network of over 2,000 stores across India, strategically located to provide easy access for customers who prefer an in-store experience. They developed a user-friendly mobile app that facilitates effortless browsing of their extensive product catalog, seamless ordering, and the scheduling of eye-testing appointments with qualified optometrists within their stores. This commitment to online and offline experiences empowered customers to choose the shopping journey that best suited their needs, solidifying Lenskart’s position as a leader in the evolving eyewear market.
The Core of Differentiation
Beyond solving initial pain points, Lenskart’s growth stemmed from capitalizing on evolving trends. A growing focus on proactive eye care, fueled by factors like screen time and environmental stress, presented an opportunity. Lenskart seized the opportunity and added this by offering educational resources. They further catered to a shift in eyewear perception, where glasses became a fashion statement.
It changed the eyewear game by offering a wide range of trendy frames at competitive prices. Understanding fashion’s influence, they catered to diverse tastes through collaborations with external designers and in-house teams. It ensured a constant stream of fresh, fashionable options suited for today’s style-conscious consumers.
This was possible through its direct-to-customer model that eliminated intermediaries, which led to significant cost savings for their customers. Every step of the customer purchase cycle was designed with convenience in mind by Lenskart. In addition, they had free shipping straight to customers’ homes upon failed attempts at returns ensuring a low-risk shopping experience.
Besides, Lenskart catered to the different tastes and preferences of its consumers by offering an extensive selection of specialty lenses like blue light filters meant for those who spend a lot of time in front of LED screens and transition lenses designed for individuals who would want a seamless transformation between sunglasses and eyeglasses. A passionate focus on satisfying customer requirements by providing personalized experiences became the cornerstone of Lenskart’s differentiation strategy.
Harnessing Digital Platforms
Lenskart’s marketing strategies were as innovative as their approach to eyewear sales. They understood the power of connecting with their target audience on an emotional level. They launched captivating advertising campaigns featuring prominent Indian celebrities, effectively transforming eyewear from a medical necessity into a coveted fashion accessory. These campaigns resonated with a style-conscious audience and successfully positioned Lenskart as a brand that catered to their desire to look good and feel confident.
Social media played a pivotal role in Lenskart’s marketing strategy. They build a brand identity and foster a direct connection with potential customers through Meta. Understanding the growing influence of social media influencers, Lenskart partnered with fashion bloggers to showcase their products and reach a targeted audience. This multi-pronged approach to online marketing ensured Lenskart remained at the forefront of the digital landscape.
However, Lenskart’s marketing efforts were beyond the digital space. They understood the importance of reaching a broader audience and employed strategic offline marketing tactics. Engaging television commercials featuring catchy slogans and captivating visuals further increased brand awareness. Additionally, in-store promotions and displays that showcased the latest trends and collections enticed customers to explore Lenskart’s offerings within their physical stores. This comprehensive marketing strategy, encompassing both online and offline channels, ensured that Lenskart remained top-of-mind for consumers seeking stylish and affordable eyewear.
Milestones of Success
Lenskart’s approach and dedication to customer needs have acquired widespread recognition. In 2019, the company achieved the milestone of surpassing the $1 billion valuation mark, attaining unicorn status within a relatively compressed timeframe.
Besides financial achievements, Lenskart has won several prestigious awards in recognition of its contribution to the retail industry.
Lenskart has an ambitious future involving global expansion, evident in its acquisition of Owndays for a broader international audience. But its vision extends beyond geographical reach. Lenskart is actively exploring AI to personalize the customer experience further, envisioning AI suggesting perfect frames based on facial features or creating even more advanced virtual try-on experiences. Its dedication to innovation positions it as a leader in the ever-evolving eyewear industry. From a startup to a billion-dollar unicorn, Lenskart’s story embodies innovation, customer focus, and strategic excellence, revolutionizing how people shop for and wear glasses, and their future looks bright with global expansion and AI leading the way.
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