Lenskart: Ex Microsoft Peyush Bansal Vision for the Future

Introduction

Lenskart is India’s largest eyewear brand. It changed the method of buying spectacles to make it convenient and cost-effective. The company offers stylish eyeglasses, sunglasses, and contact lenses for everyone. Lenskart was founded by Peyush Bansal in 2010 and has expanded rapidly and has a strong base in India and other countries presently. This blog will walk you through the history, success story, business model, and why Lenskart stands out.

The Lenskart Story

Lenskart was founded in 2010 by Peyush Bansal, who wanted to make glass buying easier and cheaper. Before this, glasses used to mean visiting a store, choosing the frames, and waiting for days to get the product. Lenskart transformed that by doing glass shopping online. At the touch of a button, individuals were able to buy good quality glasses from home. Lenskart took offline outlets to provide individuals with the best of both worlds.

How Lenskart Became Popular?

Lenskart gained popularity because it embraced new concepts and customer-friendly services. Some of the key reasons behind its popularity include:

Affordable Prices: Lenskart offers fashionable glasses at lower prices than local shops.

Free Eye Check-Up: The business offers free eye check-up at home and in the store.

Virtual Try-On: The customers can see how glasses would fit them via Lenskart’s virtual try-on feature.

Quick Delivery: Lenskart ships glasses quickly and safely to customers.

Good Customer Support: The business focuses on customer satisfaction through simple returns and repair services.

Lenskart Business Model

Lenskart works smart to offer customers the best glasses at reasonable rates. This is the way its business model functions:

Omnichannel Strategy: Lenskart also has a physical and digital presence. Customers are able to buy glasses from its website, mobile application, or physical outlet.

Own Manufacturing Unit: Lenskart has its own manufacturing unit, which lowers cost and provides assurance of quality output.

Franchise Stores: Lenskart has the majority of its stores run by partners, and the company thus grows at a faster pace.

Membership Plans: The company offers membership plans like ‘Gold Membership’ for discounts and special discounts.

International Expansion: Lenskart is currently operational in Singapore, UAE, and the USA, and thus it is a global company.

Lenskart’s Marketing Strategy

Lenskart uses avant-garde promotional strategies to arrest the attention of individuals. Let’s see how they do this:

• Celebrity Endorsement: Katrina Kaif and Bhuvan Bam are celebrities endorses Lenskart.
• Social Media Presence: Lenskart has the presence of Instagram, Facebook, and YouTube through which they make customers laugh out loud with appealing posts and videos.
• Eye Health Awareness Campaign: Lenskart organizes eye health awareness campaigns and encourages individuals to undergo regular check-ups of eyes.
• Referral Program: The customer gets rewarded if he/she has friends and relatives referred to Lenskart.
• Festival Discount and Sales: The organization provides discounts and sales during occasions and festivals to attract more customers.

How Technology Helps Lenskart?

Lenskart is not only an eye-wear brand, but an IT company as well. It utilizes sophisticated technology to help customers shop online easily:

• 3D Try-On: The customer can try on the glasses virtually using the computer or phone.
• AI-Driven Suggestions: Lenskart suggests frames based on face shape and preference.
• Robotic Manufacturing: Lenskart uses robots and AI in factories to make good lenses.
• Intelligent Store Experience: Lenskart stores are outfitted with digital equipment to help customers choose the perfect glasses.

Challenges Confronted by Lenskart

Lenskart has faced some challenges even though it has been successful:

• Competition: Very high competition from other eyewear firms like Titan Eye+ and Specsmakers.
• Logistics Issues: It is always difficult to transport fragile glasses safely.
• Customer Preference: There are people who still like buying glasses from conventional optical stores.
• Pricing Concerns: While being affordable, some premium frames are too costly for middle-class buyers.

How Lenskart overcame challenges?

Lenskart has failed to overcome its challenges and improve customer experience. Here’s how they did it:

• Increased Store Network: Lenskart expanded the store network in different cities in order to reach more customers.
• Higher Customer Support: The company employed better return and repair policies.
• Value for Money: Lenskart launched value-for-money frames and lenses to attract more customers.
• Better Logistics: The company partnered with the best delivery services to offer faster and safer delivery.

Lenskart Future Plans

Lenskart is not resting anytime soon. The brand has enormous future plans:

Expansion to Other Countries: Lenskart is planning expansion to other countries overseas.

Launch of Smart Glasses: Lenskart is developing smart glasses with advanced features.

Opening More Stores: Lenskart will open more stores in small cities and towns.

Improved Online Platform: The company will continue to update its website and mobile app to enhance the shopping experience.

Why Do Customers Love Lenskart?

Millions of customers love Lenskart because:

• Quality Products: The company retails fashionable and durable glasses.
• Low Prices: Fashionable glasses at budget-friendly prices.
• Excellence in Customer Service: Lenskart offers easy shopping.
• Smart Features: Home eye test, virtual try-on, and AI recommendations provide thrilling and easy shopping.

Conclusion

Lenskart eyewear is a true example of how innovation and customer focus can create a successful business. From being an online startup to becoming a global eyewear brand, Lenskart has come a long way. With its smart marketing, advanced technology, and customer-first approach, the company is set to grow even bigger in the coming years. If you’re looking for stylish, affordable, and high-quality eyewear, Lenskart is the place to go!

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