A case study on Lenskart.com

Abstract

While thinking about going for an IPO in a few years the Lenskart CEO, Peyush Bansal, an ex-IIMB alumnus is still in two minds whether his experiments with offline stores will be able to ace the competition in India’s fragmented eyewear market. While the omnichannel model of Lenskart is ticking all the right boxes for a consumer but the marketing and customer acquisition costs still remain high. The demand generation is only pervasive in metro cities but when it comes to going down tier 1, tier 2 and tier 3 cities, the customer appetite is much low and awareness of omnichannel touchpoints is also limited. The company has always been a step ahead in meeting the technology innovations needed for improving its consumer experience and yet the amalgamation of both offline and online experience is a much trickier game to play in India’s eyewear market. We will have a look at the eyewear industry trends in past 5 years in India and delve deeper into the journey of Lenskart.