Lenskart

TEAM MEMBERS
Rajdeep Naskar - 2022SMF6595
Piyush Shrivas - 2022SMT6606
Joshua K Ninan - 2022SMF6524
Mohit Jain - 2022SMF6552
Shivendra Kushwaha - 2022SMF6558
Santanu Gayen - 2022SMF6584

Lenskart
Peyush Bansal Amit Chaudhary Neha Bansal
Founder & CEO Co-Founder Co-Founder
 INTRODUCTION Inventory-based business
Lenskart offers 5,000+ designs of
Lenskart is a leading e-commerce for frames and 45+ different quality

eyeglasses startup founded by Peyush lenses for its customers. The

company passes on the designs to
Bansal in 2010
its manufacturers. The company
focuses on superior quality,
It started off by selling contact lens only but durability, wide range,
later diversified the product range to innovativeness, and services like a
eyeglasses, contact lenses, sunglasses for
2010

3-D testing facility

both men and women

Lenskart is a one of the ecommerce

companies of India that is operating in both
online and offline distribution channel Omni-Channel

The company observed the Indian

Lenskart started the offline stores in 2014 to mindsets and found that people
expand their market are apprehensive about buying
eyewear products online. Thus it
focussed on establishing brick and
Lenskart is revolutionizing the eyewear
Lenskart

mortar stores in India. The company

industry through first of its kind ‘Home eye offers services in both online and
checkup’. offline modes. It now has 900+
stores across 45+ cities.
Lenskart 2010
STORE LAYOUT
Image gallery Malviya Nagar Flagship Store

L E N S K A R T
Image gallery Online-Website

L E N S K A R T 2 0 2 4
 7 Ps
PRODUCT PRICE
Wide range of products Value based pricing
Focuses on quality Surpasses marginal costs in supply
Contact lenses, sunglasses & eye wear chain leading to reduction in costs
Customized products

PLACE PROMOTION
Wide access due to online brand Social media and 24*7 helpline service
2010

Delivers to more than 450 cities in India Email marketing

3rd party vendors - BluDart, Javas, etc. TV commercials and print ads
Offline stores across 66 cities

PEOPLE PROCESS
Employees are young and high spirited Uses sophisticated technology
Treated as biggest assets of company Robotic technique to deliver micro-
Experiential learning is given importance precision glasses
Import machines from Welch Allyn

PHYSICAL EVIDENCE
Online and offline stores
Lenskart

Logo identifiable with young generation

Brand ambassadors
 Strengths Weaknesses
Wide selection of eyeglasses Customer dissatisfaction with the online
purchase due to the misfit of frames.
Competitive prices
The barrier to entry might be low which
Easy-to-use website
could mean extra competition.
India's first and the only brand to use a
Local shops give better prices compared to
robotic technique.
lenskart.
5000 styles of eyewear, which is 5 times
Not established brands in some segments.
more than that of any retailer in India

S W
2010

Opportunities O T Threats
Lensakrt has the opportunity to diversify itself
and establish itself not only as an online retailer
of eyewear instead as a vision corrector. Local Shops
Focus on developing an application in the mobile Online E-commerce stores
itself by which customers can check the power of
their eye themselves. Changing customer preferences
Lenskart

Lenskart is now limited to B2C sales. It can extend and dynamics

its service to cater to B2B clients as well and
establish its stronghold before a competitor does
 PROFITABILITY POTENTIAL
VALUE
Lenskart differentiates itself from its competitors through various
innovative features such as first frame free, exchange old frame for new,
virtual try-on, try-at-home, doctor locator, home eye-checkup, franchise
model for optometrists and buying guide, etc. They focus on the following
parameters to delight the customers and increase their perceived value:
• Great Quality
• Variety
• Value for Money

Adaptability Rareness

Lenskart, since its inception, has been introducing

innovative features to provide benefits to customers. They Monetisation Lenskart’s innovative features such as the first
frame free, exchanging old frames for new, virtual
had an online business model, but after understanding the
consumer behavior towards this market they started with
try-on, try-at-home, doctor locator, home eye-
offline stores too. They invested a huge amount of money checkup, franchise model for optometrists and
in manufacturing, to provide greater quality products. The buying guides are not yet provided by any of the
in-house manufacturing facility of spectacles, glasses, competitors.
and contact lenses helps in increased profit margin per
sale.

INIMITABILITY

Lenskart has invested a massive amount of money in the

high-tech manufacturing facility to provide a better quality
product. Also, it has a huge technology backend to provide
new innovative features such as 3D-virtual try-on. So, these
features cannot be imitated in the short run. There is minimal
chance of a substitute for this business model.
 AFFORDABILITY

COMPETITIVE
ANALYSIS
LENSKART

SPECSMAKER
1 Specs Brands

TITAN EYE
PULS
2010

LENSKART TITAN EYE

PULS
LESS MORE
OPTIONS OPTIONS

SPECSMAKER GKB OPTICALS

GKB OPTICALS
Lenskart

EXPENSIVE
 Computer Eye
Glasses Glasses
2010

Contact Sunglasses
Lenses and
Frames
Lenskart
 Strategy to expand its business
Market Penetration Diversification
setting up offline stores in Tier- Establish itself not only as
2 & Tier-3 cities online retailer of eyewear
Changing behavior of customer instead as a vision corrector
towards online channel to They can focus on developing
reduce cost and increase an application in the mobile
2010

efficiency itself by which customers can

Establish its presence in check the power of their eye
Northeastern states which are themselves
populated by young millennials They can increase their
Lenskart is now limited to B2C acceptance in rural India
sales. It can extend its service Enable retailers in small
to cater to B2B clients as well towns to conduct eye exams
and establish its strong hold through a phone
Lenskart

before competitor does

 User Journey
Lenskart online platform

APP PURCHASING
INSTALL/LOGIN/ /PAYMENTS/
ONBOARDING CHECKOUTS
01 03 05
2010

APP DISCOVERY DISCOVERY & TRACKING &

SELECTION AFTER SALES

02 04
Lenskart
 User Query at Different stages
Lenskart Online store

APP PURCHASING
INSTALL/LOGIN/ DISCOVERY & /PAYMENTS/ TRACKING &
APP DISCOVERY
ONBOARDING SELECTION CHECKOUTS AFTER SALES

Reviews of different
From where i can Ways I can Log in? How do I shortlist Where is my order?
products
buy eyeglasses Did info need to set from so many How do I get the
When will the order
online? up an account? options? refund/replacement?
reach me?
Where I can find the Any referral code I How do I find a I want help with my
Is this product value
app? can use? product of my past orders
for money?
Whats the rating & Key features of the choice?
Any coupons
Review? app Will this product suit
More images of the
me ?
product
 Goals at different stages
Lenskart online store

APP DISCOVERY & PURCHASING TRACKING &

APP DISCOVERY INSTALL/LOGIN/ SELECTION /PAYMENTS/ AFTER SALES
ONBOARDING CHECKOUTS

Increasing Seamless and quick Reducing task flow Seamless payment Improving customer
awareness and login experience time flow with multiple satisfaction-
reach Multiple login Assisted search & options monitoring NPS &
Search engine options decision making Assistance in Reviews
optimization Guiding the users to Increasing cart value decision-making by Easy replacement &
Branding through task & Activities Reducing drop off providing multiple quick refund
various cahnnels Increasing product data point
engagement
 Competitor Analysis
The Spectacles Market

COMPANY
GKB TITAN
LENSKART SPECSMAKER COOLWINKS COMPARISON
OPTICALS EYEPLUS

Lens Accuracy
and Consistency

Frame Choices

Value for Money

Customer
Experience and
Support
QUESTIONS
L E N S K A R T 2 0 2 4

Thank
You
A REVOLUTION IN THE EYEWEAR MARKET
007