Lenskart

SWOT Analysis

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LENSKART
• Lenskart is a leading e-commerce for
eyeglasses. It was founded by ex-
Microsoft techie Piyush Bansal in
2010.Valyoo Technologies is the parent
company under which it is registered.
Delivery of Lenskart product is
diversified to over 450 cities in India. It
started off by selling contact lens only
but later diversified the product range to
eyeglasses, contact lenses, sunglasses
for both men and women.
The optical business in India firmly held on to the traditional business model of conducting business
through brick and mortar stores only. Although the E-commerce business was fast gaining traction
during this time and online shopping was fast catching up, it focused mainly on household items and
appliances, groceries, food and supplies, clothing, footwear, jewelry, electronics, toys
and games, smartphones, and digital gadgets and many more. Sunglasses were perhaps the only
eyewear that was available online

Lenskart is a one of the ecommerce companies of India that is operating in both online and offline
distribution channel. Customers can order over their online portal www.lenskart.com or from their
uniquely designed offline store. Lenskart is revolutionizing the eyewear industry through first of its
kind ‘Home eye checkup’. It`s business model operates bridges the gap between different touchpoints
i.e. It gives the customer an omnichannel experience where a customer can order either from store or
from online medium
 • The point of a SWOT analysis is to help us develop a
strong business strategy by making sure we have
considered all of our business's strengths and
weaknesses, as well as the opportunities and threats
it faces in the marketplace.

SWOT • S.W.O.T. is an acronym that stands for Strengths,

Weaknesses, Opportunities, and Threats. A SWOT
analysis is an organized list of our business's greatest

ANASLYSIS strengths, weaknesses, opportunities, and threats.

• Strengths and weaknesses are internal to the
company (think: reputation, patents, location). We
can change them over time but not without some
work. Opportunities and threats are external (think:
suppliers, competitors, prices) they are out there in
the market, happening whether we like it or not.
STRENGTHS
• Quality of the products- the company offers the best quality products to its
customers, keeping quality a major aspect for the companies' growth.
• Value for money- company tries its best for the customers to have the best
products at the best prices possible as there are no intermediaries and
middlemen so they are able to provide with the best prices.
• Customer satisfaction and trust- being a company directly solving peoples issues
the company gives high priorities to customer feedback and tries their level best
for customers to be satisfied at both online and offline modes. Great user
experience with 24/7 support
• Strong innovation- the company is continuously innovating according to new
customer requirements and needs, they made changes in their apps introducing
features like try it on and making it more user friendly, introducing the home
services for the customers being skeptical about online shopping, introducing
lenskart blu and many more
• Variety- Providing a platform where people can order from huge variety of
eyeglasses, sunglasses and contact lens
• Online as well as offline set up in the market
• Huge discount and exciting offers- lenskart keeps on offering new schemes and
discounts to keep people engaged with the company like first frame free, buy
one get one, free eye check up etc
WEAKNESS
• Low demand in international market- the company faces
problems to expand overseas.
• Franchising- it is one of the main strategy of the company too
expand the offline business and there are chances that they
may not keep up the standards
• Leads to unsatisfaction- many customers are not satisfied with
the ‘try at home’ like service and also the franchise standards
issue.
• Competitive market- the Indian market basically is more under
the notion of traditional markets especially in this eyecare
market thus expanding is a challenge.
• Has to deal with the customers ‘touch and feel’ notion
• Large variety of products may confuse the customers
 OPPORTUNITY
• First mover advantage- lenskart was one of the first e-
commerce giant in the eye care industry
• Growing demand- the demand for eyecare is a continuous
demand but actually the shift of customers to ecommerce has
emerged as the best opportunity for the company.
• Branded goods- lenskart made branded goods accessible to
people which was not possible in the local markets and took
the edge
• Market is not fully explored- being in a developing a nation
India as the main market for business there is a large segment
of the market that hasn’t been reached to yet and which offers
a great opportunity for the large customer base.
• Global market- the company has a lot of opportunities in the
global market as there aren’t much of such businesses and
with people being so much dependent on e commerce
businesses it has a edge.
THREAT
• Competition- lenskart has both competition
in offline and online modes. In online mode
there are a lot of new websites and
companies establishing like titan eye plus,
flipkart etc. and in offline mode the stores
that are locally established store or even
brands like again titan for instance.
• Global economy- the changes in global and
domestic economy has a major impact on
the companies' functioning. And thus,
company has to look up at majors or ways
through which it can avoid the impact of
these external forces on the company.
SWOT MATRIX
• Quality of products • Low demand overseas
• Value for money • Franchising
• Customer satisfaction • Touch and feel notion
• Variety • Not satisfied
• Offers and discounts
• Strong innovation

S W

T O
• Competitors • First mover
• Global economy • branded products
• Growing demand
• Global market
• Market unexplored
 Lenskart vs Titan eye plus
The eyewear industry is highly unorganized. The organized part just constitutes about 9-10% of
the 18,000-20,000 crore market. Although Lenskart has around 70% of the market share among
the organized players, its main challenge is to steer customers away from the unorganized sector,
which offers product knockoffs which are available at low costs.
One of the main competitor that lenskart has right now is titan eye plus. Both companies are
highly active both in online and offline market leading to an actual competition between them.
Lenkart focuses on creating a product for all thus offers a great range of products for all types of
customers with all the price ranges whereas titan eye plus focuses more on the quality and brand
specification.
The overall customer experience is better of titan eye plus as compared to lenskart as per the
reviews which result to the fact that the former has a more loyal and satisfied customer base.
Although pricing comes as an issue with titan eye plus as the products are highly priced due to
premium brand on the same side lenskart provides with great quality and good brands at a
relatively lower price range and with the Indian market where people want value of the money
rather than just brands its an imp factor t expand.
Lenskart keeps providing customers with the promotional offers and discounts whereas titan has
almost no promotional deals giving an edge to lenskart over titan eye plus.
Titan eye plus has overcome the issues faced by lenksart as of franchising problems, customer
satisfaction etc. a lot better than lenskart but still lensakrt has a major of the hold of the market
because the company has a lot larger target audience and has been more successful in critically
analyzing the Indian market and also coming up with solutions for the same.
 CONCLUSION
Lenkart is one of the leading company of its type
and as done a great research of the market and
has been updating itself on daily basis to meet
the customer’s satisfaction and keeping its
position in the market.
Lenskart in itself has become a brand and is
highly valued by its customers. This a result that
not only it has a loyal customer base but also a
large number of customers become part of the
company on daily basis.
The company has a good marketing strategy
helping it to keep up with the competitive market
like of India.
Though the company has some issues which do
have a negative effect on the growth of the
company but as stated earlier company is
working toward resolving them on daily basis.
THANKYOU