How Lenskart Bridges The Gap Between Online And Offline Retail?

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Lenskart, is a brand name that you have probably heard of on many platforms; Twitter, Instagram, Facebook, Internet and many more places. It is one of the leading brands today. The owner, Peyush Bansal, started his company Lenskart, 12 years ago in 2010. Its headquarters are located in New Delhi, India and its customers are spread worldwide. As per 2020, Lenskart has its stores over 900+ locations, it has over 5000+ employees, its revenue is US$130 million and has a net income of US$2.2 million. Lenskart is an Indian Optical eyewear company and manufactures around 3lakh + glasses a month in New Delhi and also has its own Lenskart Franchise.

WHAT IS ONLINE RETAIL?

Online retail is selling your product online. Consumers can visit your site and place orders as per their choices. It basically means electronic retailing in which you can sell your goods and services through the internet. It can be of two types; B2B (Business to business) and B2C (Business to consumer). B2B deals with businesses and B2C deals with consumers. It is also known as an E- store or online store or virtual store.

WHAT IS OFFLINE RETAIL?

Offline retail can be referred to as the old ways of selling a product or service. It doesn’t include use of the internet. The consumer can visit the store, choose the product and buy it then and there. It involves a person or retailer who sells the goods and services at a fixed location. You can touch and see the product beforehand and then make the choice. In offline retail, you need to go in person to buy the product whereas in online retail, you can scroll through various products and order them from the comfort of your home.

HOW LENSKART MANAGES ONLINE AND OFFLINE RETAIL?

Lenskart is an eyewear company that deals in both online and offline retailing.  Lenskart mainly started off as an online company but over time, it has also established itself in the field of offline retail.  Many people like to buy products like eyewear through offline mode because they can try the frames beforehand on their face and then choose what suits them the best. So to increase the consumer base, it is important to engage in offline retailing as well. To reach a wide range of consumers; from old generation to GenZ, Lenskart has done a good job in that field. Many consumers want to get their eye power checked and physically try the frame on their face before buying so Lenskart made it available at its stores. Lenskart focuses more on understanding consumer behaviour and solving consumer problems and it is also one of the reasons behind the success of the company.

LENSKART FRANCHISE

Lenskart is one of the most popular and fast growing eyewear companies. Lenskart provides franchise opportunities to the entrepreneurs who want to do something of their own or establish their career in the eyewear business. It has started a Lenskart franchise Partner program which is also one of the most successful and profitable franchise businesses in India. If you’re interested in the Lenskart franchise, you will need to invest an amount of Rs. 25lakhs – Rs. 30 lakhs approx. with the brand fee of about Rs. 2,00,000.

Hence, Lenskart is doing well in bridging the gap between online and offline retail. It is gaining profit from both of them because of its strategies and their implementations. Lenskart also provides opportunities to young entrepreneurs with passion who want to start their own business. These are the reasons why Lenskart has been successful in the long-run.