Lenskart’s Marketing Vision: Making Eyewear Essential, Affordable, and Fashionable
🔍Insights
Today, every 3rd person in India has something in common - spectacles. With the growth and excessive utilization of technology, there has been a jump in sales for laptops, desktops, and mobile phones. Thanks to our sedentary lifestyle and constant gazing at a screen, most people suffer from some form of eye problems.
But, for people with eyesight issues, buying glasses was more of a hassle than living without them. You first need to visit an optician, get your eyes checked, and then select the right frame to suit your face and budget. Currently, more than 15 lakh spectacles are made and sold in the Indian market.
All of this changed with the emergence of Lenskart in 2010. The founders of the brand wanted to not only make eyewear fashionable but also within the reach of people. The idea all started in a garage and today it is one of the fastest-growing multinational eyewear chains with brands such as Lee Cooper, John Jacobs, and the infamous Ray-Bans vying for the top spots.
This has all been possible thanks to Lenskart’s marketing strategy and campaign that helped them grow from a simple 30 customers a day to over 3000 today. So, put your glasses on, and let’s explore!
Lenskart’s 4Ps of Marketing
Business and Marketing Strategy of Lenskart:
Best Marketing Campaigns of Lenskart
Lenskart’s 4Ps of MarketingÂ
Product:
Lenskart is one of the only eyewear brands in India that utilizes robotic technology to not only develop but also deliver accurate glasses. With special machines imported from Germany, you can expect perfect eye checkups. To tackle the problem of limited options, Lenskart provides a large range of frames in various designs and styles. Their main positioning is that glasses are not just for functioning but can also be a fashion statement. The platform also sells relevant items such as:
- Contact lens: Lenskart sells contact lenses for daily, monthly, colored, and even toric lenses for astigmatism.
- Prescription glasses: They have a variety of frames from different sizes, shapes, materials, and colours - that suit multiple preferences. It also has a large number of lenses - single vision, bifocal, and progressive - with features such as anti-glare, scratch-resistant coating,, and UV protection.
- Sunglasses: The platform offers various styles of sunglasses with multiple lens options such as mirrored, polarized, and UV-protected sunglasses.
- Kids eyewear: Lenskart understands that children need eyewear as much as adults. Their explicit section for children is made from durable material that is both stylish and comfortable for kids.
- Accessories: The brand has multiple accessories that are related to eyewear care and maintenance, cases, and even microfiber cleaning cloths.
- Smart eyewear: Recently the brand ventured into the realm of intelligent eyewear with products that integrate traditional eyewear with audio options.
- Home eye check-up options: Lenskart has services such as home check-ups where customers can try their selected frames at home before making a purchase.
Pricing:
Lenskart follows a value-based pricing strategy where customers are charged according to the value of the products. The brand has grown at a rate of 150% in just a single year, with gross merchandise at INR 3000. As the platform caters to a wide customer base with multiple income levels, it provides products in premium, luxury, and cost-efficient segments. Some of its pricing and distribution strategies are:
- Value-based pricing: The central line to Lenskart’s pricing strategy - providing value for money. The price of products they offer is based on the perceived value to the customer, affordable, and quality.
- Tiered Pricing: The brand has a tiered pricing model that ranges from economically priced eyewear to premium options. Such a segmentation is important for Lenskart to cater to diverse customers.
- Competitive pricing: Lenskart aligns its price or charges slightly lower than its competitors. This means that they not only become a constant for customers but also provide them with a competitive edge over others.
- Dynamic pricing online: Thanks to their online presence, Lenskart product prices are based on inventory levels, current promotions, and even demand.
- Discounts and offers: Lenskart has frequent promotional pricing options that include loyalty programs, discounts, and seasonal offers. These help encourage customers to make repeat purchases and retain customer loyalty.
Place:
Lenskart follows a hybrid distribution model - they sell both online and offline. Their website and app let customers browse and try the glasses via 3D. Not only that, they can also upload their prescription and make a direct purchase online. For those who prefer going to a physical shop, Lenskart also has physical stores across India where you can walk in for a free check-up and choose your glasses there directly. One of their first outlets was opened in Chandigarh in 2014, and then more than 250 stores opened across multiple cities such as Kolkata, Mumbai, Delhi, Bangalore, Rourkela, Patna, and Chandigarh.
- Large online presence: Lenskart has a large online presence with its comprehensive eCommerce portal where customers can browse, virtually try on, and in the end buy glasses. This online approach helps them expand their reach.
- Physical store: With over 3000 physical stores across multiple cities in India, Lenskart offers customers a firsthand experience of checking products, getting their eyes tested and even getting personal support.
- International growth: Lenskart has also grown internationally with stores in Singapore as well. This means that they are now working towards capturing the international market as well.
Promotion:
Lenskart follows a multi-channel marketing strategy that includes social media distribution, SEO, content marketing, and influencer marketing to help connect with the present audience and even capture new ones. It also provides regular coupons and discounts to help retain customers and to keep them shopping with them. Some other promotion strategies include:
- Digital marketing and social media campaigns: The brand invests heavily in online marketing, by using social media and digital ads to reach their large audience and connect with them through targeted campaigns. Their audience numbers are: YouTube - 189K, Instagram - 774K, Facebook - 1.5M, Twitter - 32.5K.
- SEO: Lenskart for their website uses keywords such as eyewear, computer glasses, and sunglasses among others to rank higher on search engines. The website is also optimized for all - mobile, tablet, and desktop. As of August 2023, Lenskart had over 14.6 million visits to their website.
- Celebrity collaborations: It frequently collaborates with influencers and customers to appeal to the young, trend-hopping crowd.
- Customer engagement: With multiple customer engagement programs such as loyalty rewards, referral bonuses, and personalized email marketing, Lenskart is able to encourage customer loyalty and get repeated business.
- Email marketing: By collaborating with netCore, an email marketing specialist, Lenskart has harnessed the power of email marketing. Their well-crafted campaigns keep customers informed about the recent updates in eyewear.
Sarika Anand
Business and Marketing Strategy of Lenskart:
Lenskart follows an inventory-based business model, where they reach their customers using social media campaigns to check their inventory of over 5000+ options. Let’s take a look at some of its strategies:
Inventory-based business model
With over 5000+ frame designs and over 45+ quality lens options, Lenskart stands at the helm of the eyewear industry in India. While developing its eyewear, the company focuses more on durability, quality, innovation, and services like 3D testing. By using German robotic technology the brand makes Indian eyewear accurately up to 3 decimal points.
Google ads
Google ads are some of the most powerful forms of marketing in today’s digital era. Lenskart utilizes Google ads to target popular keywords such as sunglasses, eyeglasses, and more. It also promotes its products via Google Shopping ads, But it does not stop there, Lenskart also uses display ads, app download ads, virtual ads, and more.
Social media marketing campaigns
The brand is constantly running Facebook and Instagram ads along with conventional advertising options like email marketing, newspaper ads, TV ads, and more.
SEO
With a well-optimized and user-friendly platform, Lenskart makes it easier for customers to not only find their website (thanks to the keywords they target) but order from it as well. With their strong SEO game, they have over 1.8 million visitors per month.
Endorsement options
The products of Lenskart are not just for maintaining eye care. They are also used for creating style statements. So when brand endorsers are used, it helps attract the younger masses. One of the first brand ambassadors of Layton's cart was Katrina Kaif. After that, it was followed by Bhuwan Bam, the YouTuber. The brand is also associated with multiple other brands such as Vogue, John Jacobs, Ray Ban, and more. This helps customers get access to a wider range of glasses under one single banner.
B2C Model
Lenskart follows a unique business model - the B2C version. This strategy means that the brand sells its products directly on its own website or mobile app. The Business -2-Customer e-commerce strategy eliminates the middleman to make the products affordable for all. The brand even has multiple collaborations with major logistics companies like Delhivery, BlueDart, DHL, and others for quick delivery services.
German robotics technology eye testing
Lenskart uses advanced German robotics technology that can give an accurate reading of up to 3 decimal points. Customers can opt to have an eye appointment at home or visit the nearest Lenskart store to get their eyes tested.
Shalini Rath
Best Marketing Campaigns of Lenskart
Over the years, Lenskart has had some innovative marketing campaigns that not only generate brand awareness but also increase revenue. Some of them include:
Shape Up Your Fashion:
Shape Up Your Fashion Campaign
This campaign was directly set up by Lenskart as a fashionable eyewear brand. With highly creative video and editing work, the black-and-white ad film with the glasses in multiple shapes and colours gave this ad a whole new vibe. The brand showcased that glasses, while a necessity, can also be highly fashionable.
Pride 22 #seethelove:
Pride 22 #seethelove Campaign
This ad campaign targeted mainly Millenials and Gen Z, who are more open to accepting the LGBTQIA+ community. The campaign was launched during Pride Month (June 2022) and featured a group of individuals from the community who tell us their stories all the while wearing Lenskart glasses made with the Pride flag and symbol in mind. Through this campaign, the company not only promoted its products but also showcased its stand for a cause that could affect millions.
The war of fair pricing - #KaranvsPeyush
#KaranvsPeyush Campaign
This campaign, featuring Karan Johar and Peyush Bansal, was created to showcase Lenskart’s fair pricing strategy. Both have a humorous conversation that showcases the USPs of Lenskart - quality eyewear at affordable rates. Karan Johar was the perfect fit for the bougie character for whom high prices mean quality.
Nitin Konde
Conclusion
Lenskart has revolutionized the eyewear industry with its robust marketing strategy. With their campaigns and ad positioning, they have showcased how eyewear is not only a necessity but can also be a fashion. With its customer-centric approach, the brand provides quality, value, and convenience to its customers at affordable rates.
Thanks to their creative campaigns and multi-channel marketing strategy (both online and offline), Lenskart has now solidified its place in the eyewear industry. And their $4.5 Billion revenue is proof of it.
FAQ
What is Lenskarts marketing strategy?
Here is Lenskarts marketing strategy:
- Inventory-based business model
- Google ads
- Social media marketing campaigns
- SEO
- Endorsement options
- B2C Model
- German robotics technology eye testing
What is the unique selling point of Lenskart?
Lenskart's USP is its AI-driven eyewear customization, affordable pricing, and free home trials.
What is the target market of Lenskart?
Lenskart targets millennials and Gen Z, focusing on tech-savvy, price-conscious consumers seeking stylish, affordable eyewear.
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