Final Project Report On Lenskart BBA 6 Sem BBA

A Study on Customer Satisfaction on Lenskart
Table of Contents
Sl. No. Title Page No

1. Introduction
a. Customer Satisfaction - Definition 4 - 10
b. How to Measure Customer Satisfaction 11 - 13
c. Effectiveness of Promotional Activities 13 - 15
2. Research Design
a. Objectives 18
b. Scope of the Study 18
c. Research Methodology 19
d. Problem Statement 19
e. Limitations 19 - 20
3. Company Profile
a. Introduction about Lenskart 22 - 25
b. Membership, Market Size, Ownership 26 - 27
c. Vision Statement, Mission and SWOT Analysis 27 - 28
d. Lenskart Competitors 29
e. Lenskart Revenue and Growth 29 - 31
f. Lenskart Business Model 31
g. Challenges Faced and Future Plans 31 - 32
5. Data Analysis and Interpretation 34 - 53
6. Findings, Suggestions and Conclusion 55 - 57
7. Annexure 58 - 61
8. Bibliography 62
Silicon City College of Management and Commerce 1

Executive Summary:
The dramatic entry of Lenskart into the Indian eyewear industry landscape signaled a paradigm
shift in conducting the business with complete reliance on the brick-and-mortar stores. 2010 is a
milestone in the history of the Indian eyewear industry as it gave consumers more convenient
options for buying eyewear products online.
Until the end of the first decade of the new millennium, the optical business in India firmly held
on to the traditional business model of conducting business through brick and mortar stores
only. One had to visit an optical store or any other retail shop that sold eyewear products for
buying spectacle frames and lenses, contact lenses and sunglasses. Most optical stores provided the
service of eye checkups for the convenience of customers, which also helped attract
new customers. Although the E-commerce business was fast gaining traction during this time and
online shopping was fast catching up, it focused mainly on household items and appliances,
groceries, food and supplies, clothing, footwear, jewelry, electronics, toys
and games, smartphones, and digital gadgets and many more. Sunglasses were perhaps the only
eyewear that was available online. However, one had to visit a physical store to buy spectacles and
contact lenses.
Lenskart offers 5000+ different models of eyewear and offers free home delivery with a 14-day
replacement guarantee. The company manufactures everything in the eyewear category, from
sunglasses to reading glasses to contact lenses.
In this sector, there are three success factors: product, quality and portfolio, delivery time, and
after-sales support. The value proposition of the brand is straightforward, which is to “deliver a
high-quality product at a reasonable price.”

Chapter – 1
Introduction

Customer Satisfaction:
Customer satisfaction Customer satisfaction is a term frequently used in marketing. It is a measure

of how products and services supplied by a company meet or surpass customer expectation.
Customer satisfaction is defined as "the number of customers, or percentage of total customers,
whose reported experience with a firm, its products, or its services (ratings) exceeds specified
satisfaction goals."
It is seen as a key performance indicator within business and is often part of a Balanced Scorecard.
In a competitive marketplace where businesses compete for customers, customer satisfaction is
seen as a key differentiator and increasingly has become a key element of business strategy.
Within organizations, customer satisfaction ratings can have powerful effects. They focus
employees on the importance of fulfilling customers’ expectations. Furthermore, when these
ratings dip, they warn of problems that can affect sales and profitability. These metrics quantify
an important dynamic. When a brand has loyal customers, it gains positive word-of-mouth
marketing, which is both free and highly effective. Therefore, it is essential for businesses to
effectively manage customer satisfaction. To be able do this, firms need reliable and representative
measures of satisfaction.
In researching satisfaction, firms generally ask customers whether their product or service has met
or exceeded expectations. Thus, expectations are a key factor behind satisfaction. When customers
have high expectations and the reality falls short, they will be disappointed and will likely rate
their experience as less than satisfying. For this reason, a luxury resort, for example, might receive
a lower satisfaction rating than a budget motel even though its facilities and service would be
deemed superior in 'absolute' terms.
The importance of customer satisfaction diminishes when a firm has increased bargaining power.
For example, cell phone plan providers, such as AT&T and Verizon, participate in an industry that
is an oligopoly, where only a few suppliers of a certain product or service exist. As such, many
cell phone plan contracts have a lot of fine print with provisions that they would never get away if
there were, say, a hundred cell phone plan providers, because customer satisfaction would be far
too low, and customers would easily have the option of leaving for a better contract offer.

There is a substantial body of empirical literature that establishes the benefits of customer
satisfaction for firms.
Customer satisfaction provides a leading indicator of consumer purchase intentions and loyalty.
Customer satisfaction data are among the most frequently collected indicators of market
perceptions. Their principle uses are twofold:
1. Within organizations, the collection, analysis and dissemination of these data send a message
about the importance of tending to customers and ensuring that they have a positive experience
with the company’s goods and services.
2. Although sales or market share can indicate how well a firm is performing currently, satisfaction
is perhaps the best indicator of how likely it is that the firm’s customers will make further
purchases in the future. Much research has focused on the relationship between customer
satisfaction and retention. Studies indicate that the ramifications of satisfaction are most strongly
realized at the extremes. On a five-point scale, individuals who rate their satisfaction level as '5'
are likely to become return customers and might even evangelize for the firm. (A second important
metric related to satisfaction is willingness to recommend. This metric is defined as The percentage
of surveyed customers who indicate that they would recommend a brand to friends. When a
customer is satisfied with a product, he or she might recommend it to friends, relatives and
colleagues. This can be a powerful marketing advantage.) Individuals who rate their satisfaction
level as '1,' by contrast, are unlikely to return. Further, they can hurt the firm by making negative
comments about it to prospective customers.
Concept identification:
As organizations become increasingly customer focused and driven by demand, the need to gain
customer loyalty and retain their loyalty is critical. Customer satisfaction is the most effective way
to achieve customer loyalty. Customer satisfaction and loyalty share many similar traits. Customer
value is customer’s perception of the ratio of benefits to what he or she gives to obtain those
benefits. The framework consists of three parts:
1. Perceived Product Quality
2. Value-Based Pricing and
3. Perceived Service Quality.

Customers are satisfied, value meets or exceeds expectations. If their expectations of values are
not met, there is no chance of satisfying them. Figuring out what the customers want, however, is
a difficult and complex process. To be able to create and deliver customers value is important to
understand its components. On the most basic level, value from a customer’s perspective is the
ratio of benefit to the risk being taken while buying the product.
Customer Satisfaction
An Insight
According to Harold E Edmondson “Customer satisfaction” seems to appear in print more
frequently than any other catch phrase used to describe a new found magic for industry success.
Before we proceed in to the study of the dynamics of customer satisfaction it is important to know
about, who a customer is and what satisfaction really means.
The Definition of Customer Satisfaction:
As the key driver of customer loyalty, many researchers increased emphasis on customer
satisfaction. High level of customer satisfaction may lead to more loyal customers which means
can bring more profit for enterprise. There are many kinds of definition of customer satisfaction,
but no precise definition already been development. According to the researchers, the working of
customer mind is like a black box. That is an observer can only see what goes in and what comes
out but not what happened inside. Satisfaction may result from a very simple or a complex process
involving extensive cognitive, affective and other undiscovered psychological and physiological
dynamics.
Comparing the definitions of satisfaction, it can be found that satisfaction is stated to be a relative
concept always judged in relation to a standard. That means if we define customer satisfaction on
different angles, we can get different definition. Usually, many researchers conceptualize customer
satisfaction as a personal feeling that customers compare perceived quality performance with
expectations. This kind of conception is represented by Oliver’s (1980) expectancy
disconfirmation framework. He states that customers compare the perceived quality of products
and service with their prior expectations. The difference between expectations and perceived
quality is called disconfirmation. If it is positive disconfirmation (the expectations are met or

exceeded), the consumer is satisfied; if it is negative disconfirmation (perceived quality falls short
of expectations), and then the customer is dissatisfied.
Who really is a Customer?

The question of defining who your customers are seems fairly easy particularly if you have
segmented your market properly and understand who you are trying to satisfy. However subtlety
that frequently goes undetected by many firms is that is that customer set can be divided in to two
parts, the apparent customer and user. The apparent customer is the person or group of people who
decide what product to buy and basically have control over the purse strings. The user is a person
or group who physically uses the product or is the direct recipient of a service.
What does satisfaction really mean?
As in defining customers above, defining satisfaction also appears simple. However as with the
customer there is a subtlety that needs addressing. Satisfaction by most of definition simply means
meeting the customer’s requirement.
Customer’s satisfaction is a concept that more and more companies are putting at the heart of their
strategy, but for this to be successful they’re needs to be clarity about, what customer satisfaction
means and what need to happen to drive improvement. Without this, there is a risk that customer
satisfaction becomes little more than a good intention, with confused objectives failing to address
the real issues for customers, one helpful way to look at the problem is to rephrase the objectives:
set the sights on helping the customers meet their goals.
Customer satisfaction can be defined in many different ways. Finding the right way for a company
depends on understanding your customer and having a clear vision of the role that customer
satisfaction is to play in the strategy. For example, a focus on customer satisfaction can work
alongside existing segmentations to support revenue generation from high value customers or it
can be a company-wide objective rooted in the brand values. For the former, it may be sufficient
to focus on improving customer service, but for the latter a broader definition of customer
satisfaction is necessary, closer akin to corporate reputation.
Whatever the strategy for customer satisfaction, it must at least include getting the basics right.
Failing to achieve this can destroy the reputation as well as losing valuable customers. Every
customer, regardless of their economic worth to the business, has the power to influence -positively
or negatively- a company’s reputation. Once the objectives for the customer satisfaction strategy

are defined there are a number of steps we can take to make sure the focus on customer satisfaction
is effective.
Who is a Customer?
We all think of customers as the people who sit at our tables and pay for the goods and services
purchased. But they are individuals in their own right. They may be business people, tourists,
youngsters, retired couples or celebrities. They can’t be looked upon as an amorphous group-their
needs are different and your service should reflect that.
• A customer is the most important person in the business.

• A customer is a person who comes to us with needs and wants and it is our job to handle
them in a manner that is profitable to him/her and ourselves.
• A customer is not a cold statistic; he/she is a human being with feelings and deserves to
be treated with respect.
• A customer is not an interruption to our work-he is the purpose of it. We are not doing
him a favor by serving him; he is doing us a favor by giving us opportunity to do so.
• A customer deserves the most courteous attention we can give.
Customer satisfaction is the state of mind that customers have about a company when their
expectations have been met or exceeded over the lifetime of the product or service. The
achievement of customer satisfaction leads to company loyalty and product repurchase. There are
some important implications of this definition:
• Because customer satisfaction is a subjective, non-quantitative state, measurement won't

be exact and will require sampling and statistical analysis.
• Customer satisfaction measurement must be undertaken with an understanding of the gap
between customer expectations and attribute performance perceptions.
• There should be some connection between customer satisfaction measurement and bottom-
line results.
"Satisfaction" itself can refer to a number of different facts of the relationship with a customer. For
example, it can refer to any or all of the following:

Satisfaction with the quality of a particular product or service
• Satisfaction with an ongoing business relationship

• Satisfaction with the price-performance ratio of a product or service
• Satisfaction because a product/service met or exceeded the customer's expectations
Building a company around Customer Satisfaction:

With the increasing in customer’s demands and competition it has become a lot more important to
base the entire company on customer service. When doing this one must first realize that every
member of an organization plays an active role in customer service. This includes both external
customers and internal customers with in a company profit. Achieving customer satisfaction
generates the profit. In these organizations top managements has a frequent contact with external
customers. The top management uses consultative, participative, and supportive management’s
job is to provide the staff with support necessary to achieve these goals. The other department and
staff in the organization that do not have direct contact with the external customers deal exclusively
with internal customer satisfaction.
The influence of salesperson in Customer Satisfaction:
In an article titled, “The influence of salesperson selling behavior on customer satisfaction with
products,” Brent G.Goff and James S. Boles examine the effects of non-product related construct
on customer satisfaction with major retail purchases such as automobiles. The article states that
salesperson’s selling orientation-customers orientation will affect not only customer satisfaction
with the sales person and dealer, but also indirectly satisfaction with the product or manufacturer.
In the perspectives of both the retailer and the manufacturer, customer satisfaction represents an
important issue because it relates to several desirable outcomes. Customer satisfaction leads to
future purchases, and repeated purchase of the same product from the same source. In other words,
it helps a firm retain its present customers and build loyalty. By helping a buyer obtain product
information and providing guidelines about what should be expected during the buying process
and use of a product, a salesperson may influence customer expectations concerning the product.
Thereby this may reduce the likelihood of dissatisfaction (Grewal and Sharma, 1991). A successful
salesperson tailors to the needs of each individual customer. By being customer-oriented, a

salesperson is likely to identify with needs of the customers, enabling the salesperson to match his
or her presentation to those requirements of customer.
Internal marketing-how it affects customer satisfaction:
Successful companies make every effort to ensure satisfaction to their customer by focusing all
organizational efforts of the company on providing superior customer service. By doing this these
companies hope to retain their existing customers and attract new ones. Only angle of customer
satisfaction commonly overlooked is the internal aspect.
The internal customer or employee plays a vital role in achieving customer satisfaction and loyalty.
Some firm’s do not understand that the treatment of internal customers become the external
customers’ perception of the company. A firm’s employee or other department within the
organization makes up its internal customers. Their job performance affects the firm’s ability to
deliver superior product and customer service (Boone and Kurtz, 1999). When a firm’s employees
are happy at work, their overall attitude and performance towards the customer enhances
tremendously. Internal marketing helps members or employees of an organization understand and
fulfill their role in implementing its marketing strategy. Internal marketing not only keeps
employee happy, it also shows them how their actions affect the firm’s ability to achieve customer
satisfaction.
Customer satisfaction as part of service profit chain:
A Harvard business review article outlines the internal process required to drive growth and
increase profitability. The article describes the way in which service quality contributes to success,
outlining the steps in the “service-profit chain”:

Profitability/Growth
Customer Loyalty
Customer satisfaction
Value
Employee productivity
Internal quality
Leadership
How to Measure Customer Satisfaction:
1. Overall Satisfaction Measure (Emotional):
This question reflects the overall opinion of a consumer’s satisfaction experience with a product
he or she has used. The single greatest predictors of customer satisfaction are the customer
experiences that result in attributions of quality.
Perceived quality is often measured in one of three contexts:
• Overall quality
• Perceived reliability
• Extent of customer’s needs fulfilled

It is commonly believed that dissatisfaction is synonymous with purchase regret while

satisfaction is linked to positive ideas such as “it was a good choice” or “I am glad that I
bought it.”
2. Loyalty Measurement (Affective, Behavioral):
Customer loyalty reflects the likelihood of repurchasing products or services. Customer
satisfaction is a major predictor of repurchase but is strongly influenced by explicit
performance evaluations of product performance, quality, and value.
Loyalty is often measured as a combination of measures including overall satisfaction,
likelihood of repurchase, and likelihood of recommending the brand to a friend.
A common measure of loyalty might be the sum of scores for the following three questions:
• Overall, how satisfied are you with [brand]?
• How likely are you to continue to choose/repurchase [brand]?
• How likely are you to recommend [brand] to a friend or family member?
3. A Series of Attribute Satisfaction Measurements (Affective and Cognitive):

Affect (liking/disliking) is best measured in the context of product attributes or benefits.
Customer satisfaction is influenced by perceived quality of product and service attributes,
and is moderated by expectations of the product or service. The researcher must define and
develop measures for each attribute that is important for customer satisfaction.
Consumer attitudes toward a product develop as a result of product information or any
experience with the product, whether perceived or real.
Again, it may be meaningful to measure attitudes towards a product or service that a
consumer has never used, but it is not meaningful to measure satisfaction when a product
or service has not been used.
Cognition refers to judgment: the product was useful (or not useful); fit the situation (or
did not fit); exceeded the requirements of the problem/situation (or did not exceed); or was
an important part of the product experience (or was unimportant).
Judgments are often specific to the intended use application and use occasion for which the
product is purchased, regardless if that use is correct or incorrect.

Affect and satisfaction are closely related concepts. The distinction is that satisfaction is
“post experience” and represents the emotional affect produced by the product’s quality or
value.
4. Intentions to Repurchase Measurements (Behavioral Measures):
When wording questions about future or hypothetical behavior, consumers often indicate
that “purchasing this product would be a good choice” or “I would be glad to purchase this
product.” Behavioral measures also reflect the consumer’s past experience with customer
service representatives.
Satisfaction can influence other post-purchase/post-experience actions like communicating
to others through word of mouth and social networks.
Additional post-experience actions might reflect heightened levels of product involvement
that in turn result in increased search for the product or information, reduced trial of
alternative products, and even changes in preferences for shopping locations and choice
behavior.
Effectiveness of promotional activities:
1. Advertising and Sales Promotion:

It is obvious that the concept of marketing is being applied in every field of the society
along with the business. Marketing is getting increasing importance with the necessity of
it in every field. So, we can say that this is the age of the marketing. Today’s market is
sensing the hyper competition since the business is being operated in globalize economy.
Many of the companies are becoming failure as they couldn’t implement the appropriate
sales promotion and advertising tools to their business. This research will trace out the
weakness of promotion and advertisement in order to achieve its goals and objectives.
Customer complaints procedure, failure to implement consistent image, not considering
the marketing Return on Investment, are the frequent mistakes in business procedure.
Marketing is typically seen as the task of creating, promoting and delivering goods and
services to consumers and businesses. Marketers are skilled in stimulating demand for a
company’s products. Marketers are responsible for the demand management. Marketing

managers seek to influence the level, timing and composition of demand to meet the
organization’s objectives. Marketing deals with identifying and meeting human and social
needs, marketing efforts help to achieve organizational goals. It helps organization to find
out what their customers need and want and to decide what product or service to offer so
that the customer’s need and want can be best satisfied. It is concerned with attaining and
retaining customers and winning long term customer loyalty.
“Marketing is a social and managerial process by which individuals and groups obtain what
they need and want through creating, offering and exchanging products of value with
others.” Marketing consists of promotion and promotion consists of advertising. These
three marketing terms are interrelated. These three terms are devoted and oriented towards
the business promotion, growth and success.
2. Promotion:
Promotion is a part of marketing. Today the scope of marketing is growing so rapidly
due to the expansion of the market. As market demand increases along with the changing
test, new and new products are being introduced in the market. Due to the rough
competition and sophisticated market the companies are bound to face new and ever-
changing marketing realities.
3. Advertising:
It is a part of promotion as mentioned before. The word advertising is being pronounced
everywhere. The word “Advertising” itself is being advertised. Here are some of the
definitions of advertising given below.
"Advertising is any paid form of non-personal presentation and promotion of ideas,
goods and services through mass media such as newspapers, magazines, television or
radio by an identified sponsor".
“Advertising is the means by which we make known what we have to sell or what we
have to buy.”
Above definitions of advertising emphasize on the selling objective of the company. It
says that the advertising planning and implementation are done to secure more sales
with less cost contribution. But unlike the salesman who sells in a face-to-face or even

voice-to-voice situation, advertising is just a broadcast fashion to numbers of prospects

whose identity may or may not be known. And who may be close at hand on distance.
Effectiveness of Advertising:
The effectiveness of advertising can be understood by the changing attitudes and
behaviour of the customers. Advertising has become the powerful device for increasing
sales and at the same time, large sum of money are spent on it. In the face to mounting
advertising costs, on the one hand, and a squeeze on profitability, on the other, top
managements are increasingly concerned about the cost benefit of advertising in the
operation of a business. The value of advertising cannot be determined unless its role
and function are understood. The unaccountability of advertising, in most cases arises
from a lack of appreciation of what advertising can or cannot do.
Advertising should be viewed as a part of total marketing effort of a company. The glib
answer to the question: why do companies advertise? Is: To sell products. But in recent
times, increasing number of advertising personnel has been frankly saying that
advertising cannot actually sell products. However the objective that involves an
increase in immediate sales is not operational in nature in many cases for two reasons.
Advertising is only one of the many factors influencing sales and it is difficult to isolate
its contribution to those sales. The other forces include price, distribution, packaging,
product features, competitive actions, and changing buyer needs and tastes. It is
absolutely difficult to isolate the effect of advertising. Evaluation advertising only by its
impact on sales is not practical.
4. Promotion Mix:
Advertising, sales promotion, personal selling and public relations the mutually
reinforcing elements of the promotional mix, have as their common objective the
successful sale of a product. Once a product is developed to meet target market needs
and is properly distributed, intended customers must be informed of the product’s value
and availability. Advertising and promotion are basic ingredients in the marketing mix.
All the elements in promotion mix are contributing to each other’s performance towards
successful marketing and selling

Chapter – 2
Research Design

Introduction:
Indian online eyewear brand named Lenskart was introduced by Peyush Bansal and later two more
co-founders joined with him named Sumeet Kapahi and Amit Chaudhary. The company’s
main products start from contact lenses, glasses to sunglasses. The Lenskart owner was intelligent
enough to realize that it would be a mistake to offer an exclusive online channel for selling contact
lenses because it would be hard for the Indian consumer to accept the sudden change. It was
necessary to gain consumers’ confidence about the viability of the new business model through
gradual exposure that should help build trust in the brand and the products. As a
result, Lenskart has come up with a unique kind of business model in which the brand is different
from other brands, it creates a connection between the gap of different touchpoints. Mainly it
provides a medium where a customer has an option to order from an online portal as well as from
the store it allows an omnichannel experience to the customers.
Providing more buying options to consumers was a masterstroke from the Lenskart founder as it
helped to establish Lenskart as a trustworthy brand and, at the same time, allow consumers to trust
the online buying process of eyewear products. The approach was similar to selling a new concept
first and then bringing consumers on board to enjoy the convenience of buying eyewear products
online.
Lenskart works as both an offline and online distribution channel and is one of the leading e-
commerce brands. Lenskart productions can be ordered by the customers through Lenskart’s
creatively designed physical offline stores. The brand is brought up a revolution for the e-
commerce eyewear industry by providing the facility of eye checkups at home. In the year 2019
Lenskart becomes the unicorn company.
Lenskart has a widespread and fastest-growing business chain all over India, associated with above
120 cities, above 500 profitable stores and also more than 50 lakh happy and satisfied customers.
It is registered under a parent company named Valyoo Technologies. Lenskart app comprises the
widest college of eyewear and its app is in the number one position for online eyewear shopping.
The collection includes computer glasses, reading glasses, contact lenses, anti-glare, goggles,
specs, and also gives the facility to try out the eyewear at home followed by eye accessories and
prescription glasses.

Objectives of the Study are to:
1. Examine customer satisfaction on the services provided by the Lenskart.

2. Analyze the opinion of the customers regarding its features, like durability, quality, price
etc.
3. To identify the factors that influences the respondents to purchase the product through
Lenskart.
4. Obtain insights into the level of satisfaction of customers towards the product.
Scope of the Study:
1. The study is restricted to Bangalore City, this study covers all the products of Lenskart.
Due to time constraints the study is restricted to a sample size of 50 respondents. This study
may be useful for the company or dealer to cope with the expectation and need of the
customer.
2. This study will have customer response towards Lenskart service or product in the form of
customer image, opinion and expectation.
3. This study reveals about opportunity that on existing for the company to provide better
service.
4. This study provides information about awareness of Lenskart product or service based on
which company can alter its strategy.
5. This study helps the company to change service strategy and provide innovative service in
accordance with customer needs.
Research Methodology:
Research methodology is a systematic way to solve the research problem. In this, we study various
steps that are generally adopted by a researcher in studying his research problem along with the
logic behind them. The motive of an investigator is to uncover the fact or truth. Methods
compromise the procedures used for generating, collecting and evaluating data. Methodology thus
prepares the investigator to inquire truth also involves confrontation with obstacles. Face to face
interaction with the respondents through questionnaire.

Area of the Study:
The study conducted at Lenskart, Bangalore
Problem Statement:
The study is mainly aimed to know the level of satisfaction with respect to the services rendered
by Lenskart at their service by making a brief analysis of the current services and making
constructive improvement on them.
Duration of the Study:
The study is carried for 14 weeks.
Sample Size:
Total of 50 respondents were selected for the study. These people were personally interviewed and
questionnaire was given to them.
Sampling Method:
Random customers were selected for the interview.
Sampling Unit:
Sampling study was done on the customers of Lenskart, Bangalore.
Tools for Analysis:
Structured questionnaire and percentage of the respondents.
Limitation of the Study:
1. It begins my first attempt to undertake such a study, thus the inexperience is also an
obstacle to accomplish the project in a proper way.

2. The duration of the study is limited to a period of 14 weeks, so that an extensive and deep
study is not possible.
3. Only 50 units of mass population were studied, it may affect the reliability of the study.
4. Some customer may fill the questionnaire just for the sake of filling it up, thus giving
incorrect information.
5. It is also seen that certain questionnaires were filled by customers in a hurry.

Chapter – 3
Company
Profile

Company Profile (Lenskart.Com)
Today, a third of India's

population needs spectacles. The
term "need" applies to the people
who have been diagnosed with
vision issues, but only about a
quarter of them actually wear
spectacles. When we sum up the
number of people who choose to
wear glasses as a fashion
accessory, the figures are
staggering. Customers in this
group are interested in having
several pairs of eyeglasses to go
with a range of outfits. Every day
in India, over 1.5 million (15
lacs) spectacles are sold. The
industry is highly divided, with
mom-and-pop shops dominating. This eyewear industry has taken a new turn since 2010 when
Lenskart was born.
Lenskart is a Faridabad-based optical prescription eyewear retail chain, which operates as an e-

commerce marketplace for prescription power glasses, BLU glasses, frames, and goggles.
Furthermore, Lenskart also focuses on brick-and-mortar stores. It has already managed to establish
over 80 physical retail stores across India, as of December 2021. It's Delhi manufacturing facility
produces 300,000+ glasses every month. Lenskart also has a factory in Zhengzhou, China, that
handles nearly 20% of its production of frames. Hailed as the largest eyewear brand in India, the
company is also known as a unicorn prescription eyewear company, which entered the coveted
club of Indian unicorns back in December 2019.

Legal Name Lenskart Solutions Private Limited

Headquarters Faridabad, Delhi NCR, India
Industry Prescription Eyewear, E-commerce
Founded 2010
Founders Peyush Bansal, Sumeet Kapahi, Amit
Chaudhary
CEO Peyush Bansal
Parent organization Valyoo Technologies
Funding $939.7 mn (August 2022)
Revenue $120.64 mn (Rs 905.3 crore in FY21)
Valuation $4.32 bn (April 2022)so did you type
Area Served Worldwide
Website lenskart.com
Peyush Bansal is the CEO and
founder of Valyoo Technologies,
which is the parent company of
Lenskart. He is a Delhi boy; it is in
Delhi where he studied at Don
Bosco. He aimed to crack the IIT
entrance but unfortunately or
fortunately he failed to do so.
However, he then chooses to pursue
Electrical Engineering at McGill
University. In 2006, he graduated
from McGill University in Canada with a Bachelor’s degree in Electrical Engineering — IT,
Control, and Automation. Soon after, the founder of Lenskart landed a job with the US software
giant Microsoft. Peyush worked as a Program Manager for Microsoft for a year. When he was
working with Microsoft in Seattle, he once met Bill Gates because Gates used to call the interns
of his company at his house on the beach. It was this meeting that made Bansal realize that Gates

has done something huge, creating Microsoft and that he doesn’t want to be a part of his company
where over 50K employees work and want to be an individual distinguished for the work he does.
Besides, he also found out that he was bettering the lives of people who were already well off.
This is why he returned to India to solve the bigger problem of vision correction and lending vision
to all via Lenskart. He eventually went to pursue his PG in Management at IIM, Bangalore.
Bansal then began to found an array of Indian companies, including John Jacobs, AQUALENS
and Lenskart, under which he founded Lenskart Vision Fund, and Lenskart Plus, all of which focus
on the niche of spectacles and lenses.
During his time at IIM, he founded Valyoo Technologies, which introduced Search My Campus
as the first business portal in 2007. It was a student classifieds platform that included books, part-
time work, carpooling, and internship opportunities in addition to housing. His motto was to help
students with any problem they may have.
Peyush decided to take Search My Campus into the e-commerce world because it was a huge
success. While looking for opportunities, he came across the eyewear market, which was largely
ignored by the major e-commerce players, such as Amazon and eBay. He created Flyrr.com, a
website dedicated to the American eyewear industry.
Flyer was gaining a lot of momentum, so he decided to try his luck in India and launched Lenskart
in November 2010. This new brand began by only selling contact lenses, but after a few months,
it started adding eyeglasses. Finally, in March 2011, the company managed to expand its portfolio
to include sunglasses, putting them in the fashion accessory category.
Lenskart Co-founder and CEO Peyush Bansal, is currently serving as one of the judges (Sharks)
in the latest business reality show Shark Tank India. Popularly dubbed as the “kindest shark” in
the show, Bansal is regarded for his cooperative attitude, encouraging nature, belief in brands, and
umpteen motivations that he extends to the applicants. For instance, in one Shark Tank episode,
Peyush Bansal offered a non-negotiable offer of Rs 25 lakhs for 75% equity and Rs 22 lakhs in
debt to Sidharth from Jammu, who was mocked at and insulted by most other judges. Peyush also
encouraged him by pointing out the similarities between him and Sidharth. In an episode of Shark
Tank, Peyush Bansal himself took the stage and asked for Rs 1 crore investment in his business

for 1% equity from the judges. He repeated the pitch that he pitched in 2010 when he was only 26
years of age, which changed the future of Lenskart. He recreated the same magic with his Lenskart
pitch.
His pitch generated mixed reactions included trolls, counter questions, and appreciation. However,
his pitch undoubtedly thrilled, inspired, and motivated the Lenskart users, business professionals,
present-day entrepreneurs, and entrepreneurs to be and helped them discover one too many facts
about the brand and the co-founder.
Neha Bansal
Neha Bansal is another co-founder of

Lenskart who has previous experience
of serving as a Partner at Vinod Kumar
and Associates before she started her
role as a Cofounder at Lenskart. Bansal
then became the Founder and Director
of DNS Advisors.
Sumeet Kapahi
Sumeet Kapahi studied at the

University of Delhi and is now known
as the co-founder of Lenskart, and the VP Supply at Valyoo Technologies Pvt. Ltd.
Amit Chaudhary
Amit Chaudhary is another co-founder of Lenskart. Chaudhary is an alumnus of the Birla Institute
of Technology, Mesra, from where he completed his BE, in Information Technology.
Lenskart is a leading e-commerce company that maintains an online optical store packed with both
classic and trendy eyeglasses, lenses and more at affordable prices. These glasses can be easily
ordered online by the customers, who will get them delivered with many discounts that come and
go.

Unlike many other players, Lenskart operates on both an online and offline distribution platform.
Customers can shop online at lenskart.com or in person at their distinctively built offline store.
With the first-of-its-kind ‘Home eye checkup,’ Lenskart is revolutionizing the eyewear industry.
They use specialized robots to deliver glasses in Lenskart that are accurate to 3 decimal places.
Lenskart offers 5000+ different models of eyewear and offers free home delivery with a 14-day
replacement guarantee. The company manufactures everything in the eyewear category, from
sunglasses to reading glasses to contact lenses.
In this sector, there are three success factors: product, quality and portfolio, delivery time, and
after-sales support. The value proposition of the brand is straightforward, which is to “deliver a
high-quality product at a reasonable price.”
Lenskart Membership:
The company currently has a Gold Membership that the users can avail of at Rs 600 annually, with
which they would just have to buy 1 product to get another one free.
Lenskart Target Market Size:
The market for eyewear in India has recorded revenues at around $4,427 mn in 2021. With a
market volume of $1,985 mn, spectacle lenses have been occupying the largest segment in the
market.
To tap into one such market is profitable indeed when the idea of the operation is new and backed
by able investors like Softbank, Alpha Wave and Ratan Tata.
Lenskart was established with the aim of providing ‘Vision to India.’ In line with this, they recently
developed Lenskart Lite, a low-cost franchise model aimed at upcountry markets, especially tier 3
and 4 markets. The model, which is aimed at micro-entrepreneurs, needs a Rs 20 lakh investment.
The format brings in about Rs 4-6 lakh per month in revenue. They already have a standard
Lenskart franchise model for the tier-2 markets, with an investment criterion of Rs 35 lakh and
estimated monthly revenues of Rs 8-10 lakh.

Lenskart Ownership:
Lenskart has a list of owners. The majority of the company’s stakes are with Softbank, which
controls 20.12% of the stakes. Next comes Premji Invests, which has 11.15% of the stakes. 9.55%
of the shares are with Kedaara Capital, while TR Capital owns around 8.28% of the stakes.
Lenskart co-founders Peyush and Neha Bansal control 8.21% and 8.18% of the shares. Lenskart
last listed over 5000 employees working with the company in August 2021.
The other owners of the company are:
6.59% UNILAZER
5.36% International Finance Corporation
5.32% Steadview Capital
17.24% Others
Vision:
a. 15 million people in India are blind, which is 50% of the blind people of the world.

b. 75% of these are cases of avoidable blindness. Thanks to the country's acute shortage of
optometrists and donated eyes for the treatment of corneal blindness.
c. 153 million people in the country need reading glasses but do not have access to them.
d. Our country needs 40,000 optometrists. Unfortunately, we only have 8,000.
Mission:
Wow customers by doing something that has never been done before in the eyewear industry. It
began with an aim. An aim to provide every Indian access to high-quality designer glasses without
shelling out their pocket. We rocked our brains. We broke our backs to come up with a plan that
will not just change the way this industry works, but also will completely sweep customer off their
feet. It can only be achieved if we provide.
SWOT Analysis:
a. Strengths:
• Providing a platform where people can order from a huge variety of sunglasses and
contact lens.
• LensKart offers over 5000 frames and glasses and more than 45 kinds of high quality
lens.
• Gets best product quality at an affordable budget.
b. Weakness:
• Unsatisfactory with services.
• Packing is not up to the mark.
• It survives in competitive market.
c. Opportunities:
• There is a huge growing demand for specs.
• There is scope in global markets.
d. Threats:
• Global economy.
• Competition regarding specs in the market is high.

Lenskart – Competitors
• Lenskart is up against both offline and online competitors that include:

• GKB Opticals
• Coolwinks
• Specsmakers
• Deals4Opticals
• Lensbazaar
• Vision Express
• Titan Eyeplus
Lenskart - Revenue and Growth
The Lenskart operating revenues witnessed less than 1% growth, which was Rs 900.2 crore in
FY20 and became Rs 905.3 crore during FY21.
Lenskart Revenue Breakdown
The sale of Lenskart products via physical stores and online apps/websites is the largest revenue
driver for the brand, which was responsible for contributing 94.5% of the revenue. This revenue
stream remained relatively flat from Rs 851.2 crore in FY20 to stand at Rs 855.7 crore during
FY21. Another 4.6% of the operating revenue of the company was contributed by the recurring
revenue generated from its subscription fees, which grew by around 11% from Rs 37.2 crore in
FY20 to Rs 41.24 crore during FY21. Lenskart added another Rs 8.4 crore by providing ancillary
services that included eye checkups and more in FY21. The Lenskart operating revenues stood at
Rs 905.3 crore in FY21, which grew by less than 1% from Rs 900.2 crore in FY20.
It's worth noting that, in FY2019, Lenskart Solutions only had two stores in Singapore, but it now
expects to lead the market and gain around $30 million (INR 217 crore) in revenue.
Lenskart's expenses, however, grew by around 3.7% from Rs 963.14 crore in FY20 to Rs 998.80
crore in FY21, where the raw materials and spares used for the production of the eyewear products,
are the largest cost centre for the same in FY21.

If we go by the unit level, Lenskart earned a single rupee of revenue by spending Rs 1.1 during
FY21. In terms of profit and loss, Lenskart registered a rise of 4.6X in profits, which now stands
at Rs 28.92 crore in FY21 and was reported to be around Rs 6.32 crore during the previous fiscal.
Lenskart Financials Y-O-Y Growth during FY17-FY21
Some important growth highlights of Lenskart can be summed up as:
a. Lenskart is currently recognized as one of the top 3 optical businesses in India

b. Lenskart serves 10 million customers
c. The company reaches out to over 1,00,000 customers a month
d. Lenskart is spread over 235 cities in India
e. It has seen a growth of over 200% in the last 2 years
f. Lenskart boasts of having over 5000 styles of eyewear, which is 5X more than that
of any retailer in India
g. Lenskart subsidiary Neso Brands
Neso Brands, a subsidiary of Lenskart, is a Singapore-based global eyewear brand founded in 2022
to empower the DTC brands and help them turn into brands of the future. Lenskart's D2C venture
was registered as Neso Brands which was waiting for some funds.

Neso Brands raised $100 mn in funding in one of the largest seed rounds raised by any startup, as
announced on May 16, 2022. With huge investors like Alpha Wave, Temasek, Softbank, and more,
Neso Brands aims to partner and invest in consumer eyewear brands and help them grow by
leveraging synergies across the Lenskart Group. Along with the announcement of the fundraising,
Neso Brands also declared the appointment of Bjorn Bergstrom as the company's new CEO.
Bergstrom was previously the Chief Growth Officer and the Interim Chief Product and Technology
Officer at NA-KD, a Sweden-based fashion brand.
Lenskart – Business Model
Lenskart operates on an inventory-driven business model with a B2C concept, sourcing equally
from India and China. Its in-house stylists and designers keep up with the latest eyewear trends.
The manufacturers are then given these designs. By controlling the entire supply chain, the
company is able to keep costs down.
Lenskart has also ventured into offline stores via the franchisee model to meet the masses. It has
more than 50 stores in 30 cities to reach 50 by the end of the year. Lenskart spread out its scope
across metro and non-metro areas to achieve a good balance.
Lenskart currently serves 4000 people a day and plans to increase that number to 200,000 in the
coming years. It has a team of nearly 1000 people to assist with this endeavour, which works across
verticals such as manufacturing, eye technicians, customer care, technology, and logistics, and will
continue to develop as the company grows. Lenskart is currently based on the business model
where the company accepts orders on power glasses after getting the power from their customers
but is now gearing up for testing power for the customers, which will be possible in the upcoming
days. Here’s a deeper look into the Lenskart Business model.
Lenskart – Challenges Faced
The most difficult task Lenskart faced was persuading consumers to use the online store as a
substitute for traditional shopping. The business needed to shift people’s preconceived notions
about eyewear and instil trust in them that they offer high-quality goods at lower prices than their
brick-and-mortar competitors.

Lenskart’s offline shops, desktop platforms, and smartphone apps all performed admirably.
However, as opposed to their other sites, the mobile website converted the fewest visitors into
customers. As a result, the client used that touchpoint to guide consumers to download their mobile
apps as a stopgap solution before they could devote the resources needed to fully redesign the
website.
Lenskart – Future Plans
Lenskart India’s vision, “Vision to India,” aims to reach the masses by developing a low-cost
franchise model. Lenskart Lite is a model that will help them introduce the framework in Tier 3
and 4 cities, as well as expand their presence in Tier 2 cities. It also introduced regular contact
lenses that can be quickly discarded. Lenskart’s goal is to provide affordable and simple eyewear
solutions with the aid of their Aqualens product. It would be extremely affordable to the daily
masses who want both trends and costs at just Rs.40 per day.
The main aim of Lenskart India is to close the distance between selected and unselected lenses,
and the company expects to open more than 500 stores in the next two years. It aims to have 2,000
stores open by the end of the next five years.

Chapter – 4
Data Analysis
and
Interpretation

01: Features will be important in choosing your new glasses

Table:01
Features will be important in choosing your new No of Respondents Percentage
glasses N= 50 (%)
Frames 08 16
Durability 12 24
Brand 10 20
Lens Thickness 08 16
Fashion/Trends 12 24
Others 00 00
Total 50 100
Chart:01
Features will be important in choosing your new glasses

0%
16%
24%
24%
16%
20%
Frames Durability Brand Lens Thickness Fashion/Trends Others
Interpretation:
In Table 1 and Figure 1, 24% of the respondents agreed that they will check durability and
fashion/ before purchasing new glasses from Lenskart.

02: Type of optical glasses purchase do you prefers:

Table:02
Type of optical glasses purchase do you prefers No of Respondents Percentage
N= 50 (%)
Online 09 18
Offline 21 42
Both 20 40
Total 50 100
Chart:02
Type of optical glasses purchase prefered:
Online
18%
Both
40%
Offline
42%
Interpretation:
In Table 2and Figure 2,18% of the respondents prefer online, 42% of the respondents prefer offline
shopping method where as 40% of the respondents refer both of the purchase method.

03: Satisfaction with the features of the Lenskart

Table:03
Are you satisfied with the features of the No of Respondents Percentage (%)
Lenskart N= 50
Agree 23 46
Strongly agree 24 48
Neutral 04 08
Disagree 00 00
Strongly disagree 02 04
Total 50 100
Chart:03
Are you satisfied with the features of the Lenskart
4%
8%
46%
Agree
Strongly agree
Neutral
Disagree
48% Strongly disagree
Interpretation:
In Table 3 and Figure 3, 48% of the respondents strongly agree that they are satisfied with features
of Lenskart.

04: Frames and lenses fit as per the respondent’s taste

Table: 04
Frames and lenses fit as per the respondent’s No of Respondents Percentage (%)
taste: N= 50
Agree 28 56
Strongly agree 14 28
Neutral 08 16
Disagree 00 00
Strongly disagree 00 00
Total 50 100
Chart: 04
Frames and lenses fit as per the respondents taste:
16%
Agree
Strongly agree
56% Neutral
28% Disagree
Strongly disagree
Interpretation:
In Table 4 and Figure 4, 56 % of the respondents strongly agree that taste fit as pet the lenses and
frames.

05: Factors influence you to buy Lenskart

Table: 05
The factors influence you to buy Lenskart No of Respondents Percentage (%)
N= 50
Price 13 26
Quality 26 52
Offers 09 18
Warranty 04 08
Others 00 00
Total 50 100
Chart: 05
The factors influence you to buy Lenskart
8%
26%
18%
Price
Quality
Offers
Warranty
Others
52%
Interpretation:
In Table 5 and Figure 5, 52 % of the respondents strongly agree that price was the factor that
influence them to buy Lenskart.

06: Experience with Lenskart about the quality of customer service received.
Table: 06
The experience with Lenskart about the quality No of Respondents Percentage (%)
of customer service received. N= 50
Very poor 01 02
Poor 00 00
Average 17 34
Satisfactory 27 54
Brilliant 05 10
Total 50 100
Chart: 06
The experience with lenskart about the quality of customer

service received.
10% 2%
34% 1
2
3
4
5
54%
Interpretation:
In Table 6 and Figure 6, 54% of the respondents agree that they are satisfied with the quality of
customer service of Lenskart.

07: The level of satisfaction about the brand.

Table: 07
the level of satisfaction about the brand. No of Respondents Percentage (%)
N= 50
Highly satisfied 31 62%
Satisfied 16 32%
Neutral 03 06%
Dissatisfied 00 00%
Highly dissatisfied 00 00%
Total 50 100
Chart: 07:
The level of satisfaction about the brand.
6%
Highly satisfied
Satisfied
32%
Neutral
Dissatisfied
Highly dissatisfied
62%
Interpretation:
In Table 7 and Figure 7, 62 % of the respondents agree that they are highly satisfied with the
brand.

08: The level of satisfaction about the lens thickness.

Table: 08
the level of satisfaction about the lens thickness. No of Respondents Percentage (%)
N= 50
Satisfied 30 60%
Neutral 05 10%
Dissatisfied 00 00%
Total 50 100
Chart: 08:
Level of satisfaction about the lens thickness.
10%
30%
Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied
60%
Interpretation:
In Table 8 and Figure 8, 60 % of the respondents agree that they are highly satisfied with the lens
thickness of Lenskart.

09: The level of satisfaction about the frame colour.

Table: 09
the level of satisfaction about the frame colour. No of Respondents Percentage (%)
N= 50
Satisfied 19 38%
Neutral 09 18%
Dissatisfied 00 00%
Total 50 100
Chart: 09:
Level of satisfaction about the frame colour.
18%
Highly satisfied
44% Satisfied
Neutral
Dissatisfied
Highly dissatisfied
38%
Interpretation:
In Table 9 and Figure 9, 44% of the respondents agree that they are highly satisfied with the
frame colour of Lenskart.

10: The source of awareness about the Lenskart.

Table:10
The source of awareness about the Lenskart No of Respondents Percentage (%)
N= 50
Friends 19 38%
Relatives 14 28%
Colleagues 12 24%
Social Media 07 14%
Advertising 08 16%
Total 50 100
Chart:10
The source of awareness about the lensakrt.
16%
38%
14% Friends
Relatives
Colleagues
Social Media
Advertising
24%
28%
Interpretation:
In Table 10 and Figure 10, 38% of the respondents agree that they got to know about lenskart
through friends, 28% of them got to be aware by relatives.

11: The lenskart’s rate on the basis of value of money.

Table:11
The lenskart’s rate on the basis of value of No of Respondents Percentage (%)
money N= 50
Above expectation 34 68%
Below expectation 02 04%
As per expectation 14 28%
Total 50 100
Chart:11
The lenskart’s rate on the basis of value of money
28%
Above expectation
Below expectation
As per expectation
4%
68%
Interpretation:
In Table 11 and Figure 11, 68% of the respondents agree that experience of Lenskart in order for
value of money is above their expectation.

12: The ordering process of your most recent order placed with Lenskart.
Table: 12
The ordering process of your most recent order No of Respondents Percentage (%)
placed with Lenskart. N= 50
Very poor 01 02%
Poor 03 06%
Average 11 22%
Satisfactory 27 54%
Brilliant 08 16%
Total 50 100
Chart:12
The ordering process of your most recent order placed with

lenskart.
16% 2%
6%
22% Very poor

Poor
Average
Satisfactory
Brilliant
54%
Interpretation:
In Table 12 and Figure 12, 54% of the respondents agree that experience of lenskart in ordering
process of the last order was satisfactory

13: Satisfactory level of the skill and professionalism of the workforce that
carries out the work.
Table: 13
Satisfactory level of the skill and professionalism No of Respondents Percentage (%)
of the workforce that carries out the work N= 50
Satisfied 18 36%
Neutral 12 24%
Dissatisfied 00 00%
Total 50 100
Chart: 13
Satisfactory level of the skill and professionalism of the

workforce that carries out the work
24%
40%
Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied
36%
Interpretation:
In Table 13 and Figure 13, 40% of the respondents agree that they are highly Satisfied with the
skill and professionalism of the workforce that carries out the work.

14: Worth to buy glasses from Lenskart.

Table:14
Worth to buy glasses from Lenskart No of Respondents Percentage (%)
N= 50
Yes 48 96%
No 02 04%
Total 50 100
Chart:14
Worth to buy glasses from Lenskart
4%
Yes
No
96%
Interpretation:
In Table 14 and Figure 14, 96% of the respondents agree that its really worth to buy glasses from
Lenskart

15: The Lenskart services which are really done well.

Table: 15
The Lenskart services which are really done No of Respondents Percentage (%)
well. N= 50
Assistance with eye power/prescription related 07 14%
queries/issues
Knowledge of products and services 13 26%
Assistance with discounts and offers 08 16%
Time taken to resolve query\issue 16 32%
Ability to understand questions /queries 02 04%
Professionalism and courteous of agent. 04 08%
Total 50 100
Chart:15
The Lenskart services which are really done well.
8% Assistance with eye

14% power/prescription related
4% queries/issues
Knowledge of products and
services
Assistance with discounts and

offers
26%
32%
Time taken to resolve query\issue
Ability to understand questions

/queries
16%
Interpretation:
In Table 15 and Figure 15, 32% of the respondents agree that the time taken to resolve query or
issue is done well by Lenskart.

16: The convince with the procedure at the time of purchasing Lenskart
products.
Table: 16
The convince with the procedure at the time of No of Respondents Percentage (%)
purchasing Lenskart products N= 50
Agree 17 34%
Strongly agree 13 26%
Neutral 15 30%
Disagree 05 10%
Strongly disagree 00 00%
Total 50 100
Chart: 16
The convince with the procedure at the time of purchasing

lenskart products
10%
34%
Agree
Strongly agree
30% Neutral
Disagree
Strongly disagree
26%
Interpretation:
In Table 16 and Figure 16, 34% of the respondents agree that the convince with the procedure at
the time of purchasing Lenskart products.

17: The staff delivers appropriate service to the customers.

Table: 17
The staff delivers appropriate service to the No of Respondents Percentage (%)
customers. N= 50
Excellent 21 52%
Good 28 56%
Neutral 01 02%
Average 00 00%
Below average 00 00%
Total 50 100
Chart: 17
The staff delivers appropriate service to the customers.
2%
Excellent
52% Good
Neutral
56% Average
Below average
Interpretation:
In Table 17 and Figure 17, 56% of the respondents agree that the quality of the service delivered
by the staff is excellent to the customers.

18: The scale to repurchase the product at Lenskart

Table: 18
The scale to repurchase the product at lenskart No of Respondents Percentage (%)
N= 50
Agree 37 74%
Strongly agree 05 10%
Neutral 08 16%
Disagree 00 00%
Strongly disagree 00 00%
Total 50 100
Chart: 18
The scale to repurchase the product at lenskart
16%
1
10% 2
3
4
5
74%
Interpretation:
In Table 18 and Figure 18, 74% of the respondents agree that they would like to repurchase the
product from Lenskart.

19: Recommendation of the product to others.

Table: 19
Recommendation of the product to others. No of Respondents Percentage (%)
N= 50
Yes 47 94%
No 03 06%
Total 50 100
Chart 19:
Recommendation of the product to others.
6%
Yes
No
94%
Interpretation:
In Table 19 and Figure 19, 94% of the respondents agree that they would like to recommend
lenskart product to others.

20: The satisfactory level with the overall quality of work carried out.
Table: 20
The satisfactory level with the overall quality of No of Respondents Percentage (%)
work carried out N= 50
Very poor 00 02
Poor 05 00
Average 17 34
Satisfactory 18 54
Brilliant 10 10
Total 50 100
Chart: 20
The satisfactory level with the overall quality of work carried

out
10 2
34 Very poor
Poor
Average
Satisfactory
Brilliant
54
Interpretation:
In Table 20 and Figure 20, 54% of the respondents agree that they would like to recommend
lenskart product to others.

Chapter – 5
Findings,
Suggestions and
Conclusion

Findings:
1. 24% of the respondents agreed that they will check durability and fashion/ before purchasing
new glasses from Lenskart.
2. 42% of the respondents prefer offline shopping method.
3. 48% of the respondents strongly agree that they are satisfied with features of Lenskart.
4. 56 % of the respondents strongly agree that lenses and frames will fit as per their taste.
5. 52 % of the respondents strongly agree that price was the factor that influence them to buy
Lenskart.
6. 54% of the respondents agree that they are satisfied with the quality of customer service of
Lenskart.
7. 62 % of the respondents agree that they are highly satisfied with the brand.
8. 60 % of the respondents agree that they are highly satisfied with the lens thickness of Lenskart.
9. 44% of the respondents agree that they are highly satisfied with the frame colour of Lenskart.
10. 38% of the respondents agree that they got to know about Lenskart through friends.
11. 68% of the respondents agree that experience of Lenskart in order for value of money is above
their expectation.
12. 54% of the respondents agree that experience of Lenskart in ordering process of the last order
was satisfactory
13. 40% of the respondents agree that they are highly Satisfied with the skill and professionalism
of the workforce that carries out the work.
14. 96% of the respondents agree that its really worth to buy glasses from Lenskart
15. 32% of the respondents agree that the time taken to resolve query or issue is done well by
Lenskart.
16. 34% of the respondents agree that the convince with the procedure at the time of purchasing
Lenskart products.
17. 56% of the respondents agree that the quality of the service delivered by the staff is excellent
to the customers.
18. 74% of the respondents agree that they would like to repurchase the product from Lenskart.
19. 94% of the respondents agree that they would like to recommend Lenskart product to others.
20. 54% of the respondents agree that they would like to recommend Lenskart product to others.

Suggestions:
1. Company should improve the features of Lenskart.

2. Company should improve the quality of service to the customers
3. Considerable number of respondents facing some problems while shopping in offline. This
problem should be carefully observed, analyzed and settled.
4. Company should take maximum effort to offer the products with competitive price because
the price of the product plays a big role in purchase decision.
5. The offline shopping must be made known to consumers through different methods of
advertisements.
Conclusion:
Lenskart in the coming years would serve more customers and aspire to become a global company
keeping the main focus of manufacturing in India so that in India Lenskart can generate a lot of
employment opportunities. Though Lenskart has already provided a lot of employment
opportunities for the country people both in terms of retails and manufacturing. Lenskart is
planning to start eye technology in the next few years and is willing to invest more than $2 million.
One of its technology projects includes providing the classes to the customers instantly on spot
rather than wasting time waiting for the eye checkup and delivery. With 550 stores across the
country, Lenskart is the number one brand in the Indian eyewear industry.
Providing more buying options to consumers was a masterstroke from the Lenskart founder as it
helped to establish Lenskart as a trustworthy brand and, at the same time, allow consumers to trust
the online buying process of eyewear products. The approach was similar to selling a new concept
first and then bringing consumers on board to enjoy the convenience of buying eyewear products
online.
Lenskart works as both an offline and online distribution channel and is one of the leading e-
commerce brands. Lenskart productions can be ordered by the customers through Lenskart’s
creatively designed physical offline stores. The brand is brought up a revolution for the e-
commerce eyewear industry by providing the facility of eye checkups at home. In the year 2019
Lenskart becomes the unicorn company.

Lenskart has a widespread and fastest-growing business chain all over India, associated with above
120 cities, above 500 profitable stores and also more than 50 lakh happy and satisfied customers.
It is registered under a parent company named Valyoo Technologies. Lenskart app comprises the
widest college of eyewear and its app is in the number one position for online eyewear shopping.
The collection includes computer glasses, reading glasses, contact lenses, anti-glare, goggles,
specs, and also gives the facility to try out the eyewear at home followed by eye accessories and
prescription glasses.

Annexure
Questionnaire
1. Name:
2. Gender:
3. Occupation:
4. Age of Respondents:
a. Below 25 Years
b. 25 – 35 Years
c. 35 – 45 Years
d. Above 45 Years
1. What features will be important in choosing your new glasses?

a. Frame
b. Durability
c. Brand
d. Lens Thickness
e. Fashion/Trends
f. Others
2. What type of optical glasses purchase do you prefer?

a. Online
b. Offline
c. Both
3. Are you satisfied with the features of Lenskart?

a. Agree
b. Strongly Agree
c. Neutral
d. Disagree
e. Strongly Disagree
4. You find frames and lenses fit as per your taste.

a. Agree
b. Strongly Agree
c. Neutral
d. Disagree
5. What are the factors which influence you to buy Lenskart?

a. Price

b. Quality
c. Offers
d. Warranty
e. Others
6. In thinking about your experience with lenskart.com was the quality of the customer service
you received?
a. Very Poor
b. Poor
c. Average
d. Satisfactory
e. Brilliant
7. What is your level of satisfaction about Brand?

a. Highly Satisfied
b. Satisfied
c. Neutral
d. Dissatisfied
e. Highly Dissatisfied
8. What is your level of satisfaction about Lens thickness?

a. Highly Satisfied
b. Satisfied
c. Neutral
d. Dissatisfied
9. What is your level of satisfaction about frame color?

a. Highly Satisfied
b. Satisfied
c. Neutral
d. Dissatisfied
10. What are the sources of awareness about Lenskart?

a. Friends
b. Relatives
c. Colleagues
d. Social Media
e. Advertisement
11. How will you rate Lenskart on the basis of value of money?

a. Above Expectation
b. Below Expectation
c. As per Expectation
12. How did you find the ordering process of your most recent order with Lenkart?
a. Very Poor
b. Poor
c. Average
d. Satisfactory
e. Brilliant
13. How satisfied were you with the skill and professionalism of the workforce that carried out the
work?
a. Highly Satisfied
b. Satisfied
c. Neutral
d. Dissatisfied
14. Is it worth to buy eyeglasses from Lenskart?

a. Yes
b. No
15. What did Lenskart customer service do really well?

a. Assistance with Eye power/prescription related queries/issues
b. Knowledge of Products &Services
c. Assistance with discounts and offers
d. Professionalism and courteousness of agent
e. Time taken to resolve query/issue
f. Ability to understand questions/concerns
16. Did you find convenient with the procedure at the time of purchasing Lenskart product?
a. Agree
b. Strongly Agree
c. Neutral
d. Disagree
17. Whether the Staff delivers appropriate services to the customers?

a. Excellent
b. Good

c. Neutral
d. Average
e. Below Average
18. Would you like to repurchase the product at Lenskart?

a. Strongly Agree
b. Agree
c. Neutral
d. Disagree
19. Would you like to recommend Lenskart Product?

a. Yes
b. No
20. How satisfied were you with the overall quality of work carried out?
a. Very Poor
b. Poor
c. Average
d. Satisfactory
e. Brilliant

Bibliography:
a. www.lenskart.com
b. www.wikepedia.com
c. www.google.com
Reference Books:
a. Marketing Management: Philip Kotler

b. Fundamentals of Marketing Management: William J. Stanton
c. Marketing Management: Rajan Saxena
d. Varma Agarwal., Marketing research, Forward Book Dept, 2010.

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A Study on Customer Satisfaction on Lenskart

Sl. No. Title Page No

Silicon City College of Management and Commerce 1

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Customer satisfaction Customer satisfaction is a term frequently used in marketing. It is a measure

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Who really is a Customer?

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• A customer is the most important person in the business.

• Because customer satisfaction is a subjective, non-quantitative state, measurement won't

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Satisfaction with the quality of a particular product or service

• Satisfaction with an ongoing business relationship

Building a company around Customer Satisfaction:

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How to Measure Customer Satisfaction:

1. Overall Satisfaction Measure (Emotional):

Perceived quality is often measured in one of three contexts:

• Extent of customer’s needs fulfilled

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It is commonly believed that dissatisfaction is synonymous with purchase regret while

• Overall, how satisfied are you with [brand]?

• How likely are you to continue to choose/repurchase [brand]?

• How likely are you to recommend [brand] to a friend or family member?

3. A Series of Attribute Satisfaction Measurements (Affective and Cognitive):

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Effectiveness of promotional activities:

1. Advertising and Sales Promotion:

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voice-to-voice situation, advertising is just a broadcast fashion to numbers of prospects

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Silicon City College of Management and Commerce 16

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Objectives of the Study are to:

1. Examine customer satisfaction on the services provided by the Lenskart.

Scope of the Study:

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Area of the Study:

The study conducted at Lenskart, Bangalore

Duration of the Study:

The study is carried for 14 weeks.

Random customers were selected for the interview.

Sampling study was done on the customers of Lenskart, Bangalore.

Tools for Analysis:

Structured questionnaire and percentage of the respondents.

Limitation of the Study:

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Company Profile (Lenskart.Com)

Today, a third of India's

Lenskart is a Faridabad-based optical prescription eyewear retail chain, which operates as an e-

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Legal Name Lenskart Solutions Private Limited