Consumer Behavior

A REPORT ON

Submitted By:
Submitted To :
Aakash Sharma (18BSP1424)
Mohammad Shariq
Somya Jaiswal (18BSPXXXX)

Apporva Sinha (18BSPXXXX)

Astha Swarup (18BSPXXXX)

)
 HISTORY AND INTRODUCTION
 Lenskart is an e-commerce company Peyush Bansal (CEO & Founder), Amit Chaudhary (Co-founder)
and Sumeet Kapahi (Co-founder) launched Lenskart in October 2010.

 Lenskart started off by selling contact lenses only. A couple of months later, eyeglasses were included
and in March 2011 sunglasses were added.

 The company generated profits and cut down costs by eliminating the retailers. This not only cuts
costs, but also helps us maintain high quality standards.

 In September 2016, Eyewear retailer Lenskart Solutions Pvt. Ltd raised funding from
PremjiInvest.Lenskart currently has 23 stores today all over India.

 India’s leading online shopping portal for eyewear

PRODUCT OFFERINGS

Rs 350-1800 Rs 600-6000 Rs 750-6300 Rs 330-1900

 Brand ambassador – Katrina Kaif
Variety of options – High (different colours and styles of frames)
4 P’s

Product
 Eyeglasses in brands like Vogue, Carrera, Fossil, Ray-Ban. These are available
in styles like half-rim, full-rim and bifocal and shapes like aviator, rounder
and rectangle
 Premium Glasses
 Contact lenses
 Power Glasses in different shapes and size like aviator, rounder’s, oval and
wayfarer
 Accessories like lens cleaner spray solution, contact lens cases, screwdriver,
cleaning wipes, eyewear cases and eyewear stand
Price
 Since Lenskart is a new company, based on an entrepreneurial work style; the
employees are young and high spirited.
 The team is driven everyday to first bring value to its employees and then its
customers.
 The employees are treated as the biggest assets of the company.
 Experiential learning is given importance by inculcating a learning culture
through certification courses and training facilities.
Place
 Lenskart, being an online brand, can be accessed everywhere.
 The company through its online portal, delivers to more than 450 cities across
India.
 They have partnered with a number of third party vendors who are involved
in rolling out deliveries across locations for the Lenskart brand. These
partners include BluDart, Javas and Delhivery to name a few.
Promotion
 24x7 helpline service to meet best customer service
 First frame free for the customers. Only payment for lenses of the first frame
 Exchange option for an old frame
 Try at home option for customers by ordering maximum 5 frames at home,
trying them and selecting
 Virtual try on through a try on a model’s picture
 Home eye check-up facility
 Doctor locator to find nearest ophthalmologist.
 TV commercials and print ads have also helped Lenskart grow
FINANCIAL STATUS
OPERATING REVENUE INR 1 CR - 100 CR

EBITDA 127.63 %

NETWORTH -22.77 %

DEBT/EQUITY RATIO -1.97

RETURN ON EQUITY N/A

TOTAL ASSETS -52.35 %

FIXED ASSETS -53.21 %

CURRENT ASSETS -43.16 %

CURRENT LIABILITIES -42.45 %

TRADE RECEIVABLES -89.95 %

TRADE PAYABLES 169.48 %

CURRENT RATIO 0.28

ANANLYSIS
 Revenue from operations in the year 2017-18 is Rs 292.35 crore with an
increase of almost 84% since previous financial year 2016-17.
 The company’s total revenue of Rs 310.98 crore, which was a jump of more
than 70%, in financial year 2018, compared to Rs 182.02 crore in the fiscal
2017
 Total expenses for FY 2018, which includes write-offs, came down to Rs
148.99 crore, compared to Rs 252.98 crore in the previous financial year.
 Lenskart has 250 franchised stores spread across more than 70 cities.In total
eye wear market the share of lenskart is 10%-15% , which is expected to
increase to 30% in upcoming years
Market share of Lenskart

 Year on year growth in organised eye wear sector is not more than 2-3%.
 Lenskart has an online portal, 250 franchise stores in 70 cities.
 Market share in organised sector- 90%.
 Market share in total eye wear market- 10-15%.
 Future expectation- 50%.
 Home test services in 7-8 major cities, 1000 eye tests on daily basis. 50% of
these tests are converted into sales.
Positioning of Lenskart in Ansoff Matrix

 Lenskart is targeting new market ,

new areas ,opening Brick & Motar
stores in tier 2- tier 3 cities and
increasing franchise stores in the
country but is selling the same
product to different people. It is
providing home test services ,1000
home test services are done on
daily basis and 50% of these are
converted into sales.
Store Visit Of Lenskart
Power Glasses Eye Glasses

Contact Lenses Sunglasses & Frames

BCG Matrix
UNIQUE SELLING PREPOSITION
 Omni channel approach which includes online, modern shops and home visits
Guarantee of lenses to be 100% accurate
 •Wide range of •percertion of low •further expansion •competition from

THREATS
STRENGTHS

OPPORTUNITIES
WEAKNESSES
products quality products of stores domestic players
•Brand recognition from customers domestically and in the market.
•Value for money •lack of premium internationally. •free entry and
•Emphasize on quality range •develop brand exit of firms.
customer •takes time in awareness •customer
affordability delivery globally. retention is the
•Available at •could tap into key.
doorstep more market
share - 14 days
•No middleman
refund , 1 year
warranty ,
authencity .
•can launch new
designer frames
from leading
fashion houses.
FACTORS INFLUENCING CONSUMER
BEHAVIOUR OF LENSKART
 Psychological
Consumer Involvement- Searching for the product information threw social media and
compare it with other brand (coolwing.com, lens bazaar).
Consumer Perception-After buying a product, consumer compares it with his
expectations and is either satisfied or dissatisfied.
 Social
Reference Group- Group of individual with similarities of product (musical or sports
team)
Family- Provide lots of variety in product for selection and variety of design for choose
for every age category.
 Cultural
Tradition- Brand as carriers of meaning for a period of long time.
-Link between the consumer and the brand.
Trend- Provide wide range of product.
Frame
Glasses
 Personal
Personality- Choice of product by consumer according to the needs and preferences
which is suitable for individual personality traits.
Family Lifecycle- Following a particular product of same feature without changing
for a particular period of time.
 Economical
Product Affordability- Lenskart providing different type of product which is easily
affordable for every range of consumer.
Value for money- Lenskart provide best product to the consumer. Provide full
satisfaction in terms of:
-Quality of product.
-Lifeline of product.
Competitors
 GKB Opticals

GKB Opticals is Lenskart's #1 rival.

GKB Opticals was founded in 1959 in Kolkata, West Bengal.
Like Lenskart, GKB Opticals also operates in the Retail Distributors space.
GKB Opticals generates $41.5M less revenue than Lenskart

 COOLWINKS
One of Lenskart's top competitors.
Founded in 2016
Headquartered located in Gurugram, Haryana.
Like Lenskart, Coolwinks also works within the Retail Distributors sector.
Coolwinks generates 2.52% the revenue of Lenskart.
 Specsmaker

It is seen as one of Lenskart's top competitors.

Was founded in 2007, and its headquarters is in Chennai, Tamil Nadu.
Like Lenskart, Specsmakers Opticians also works within the Retail Distributors
sector.
Specsmakers Opticians has 3,300 fewer employees than Lenskart.
 Deals4opticals

Deals4Opticals launches its 1st offline store at Kolkata.

Deals4Opticals drew up its curtain, in 2014 with the sole objective of endowing
our countrymen with perfect vision and exclusive deals.
They believes in presenting a wholesome package to the people. Quality is an
integral part of vision.
Tend to strike an ideal balance between quality and price.
 Titan Eye Plus

Was launched in March 2007.

Benchmarked against the best in the world, Titan Eyeplus heralds standardization
in the eyewear industry.
Follows Tata‘s principles of quality and trust.
Titan Eyeplus has over 550 exclusive stores operating in over 229 cities and offers
a wide range of stylish and contemporary eyewear.
4P’s
Product

 Eyeglasses in brands like Vogue, Carrera, Fossil, Ray-Ban. These are available
in styles like half-rim, full-rim and bifocal and shapes like aviator, rounder
and rectangle
 Premium Glasses
 Contact lenses
 Power Glasses in different shapes and size like aviator, rounder’s, oval and
wayfarer
 Accessories like lens cleaner spray solution, contact lens cases, screwdriver,
cleaning wipes, eyewear cases and eyewear stand
Price

 Lenskart.com has grown at an astounding rate of 150% in just one year and its
gross merchandise value is estimated at rupees 300 CR.
 It wanted to reach as many customers as possible by offering them products
at affordable rates.
 Lenskart.com set up the direct supply chain to cut production costs. It has
adopted value-based pricing policy and offers best possible products at
reasonable rates.
Place

 Lenskart, being an online brand, can be accessed everywhere.

 The company through its online portal, delivers to more than 450 cities across
India.
 They have partnered with a number of third party vendors who are involved
in rolling out deliveries across locations for the Lenskart brand. These
partners include Blue Dart, Javas and Delivery to name a few.
Promotion
 24x7 helpline service to meet best customer service
 First frame free for the customers. Only payment for lenses of the first frame
 Exchange option for an old frame
 Try at home option for customers by ordering maximum 5 frames at home,
trying them and selecting
 Virtual try on through a try on a model’s picture
 Home eye check-up facility
 Doctor locator to find nearest ophthalmologist.
 TV commercials and print ads have also helped Lenskart grow
THANK YOU