In addition to its 10-year journey of brand building, the presence of Lenskart founder Peyush Bansal as a shark on Shark Tank India has helped the brand known in the majority of Indian households today. However, apart from product innovations and robust technology at the backend, a brand also needs a sound marketing strategy to reach out to the right consumer in the right ways.
In a conversation with exchange4media, Sasha Chhetri, AVP Marketing, Lenskart, shares insights and understandings on the marketing tactics the eyewear brand is using for accelerating brand growth and tells us about the upcoming initiatives, key trends, omnichannel and offline retail strategy and more.
Please tell us about the marketing initiatives you are looking forward to executing in order to accelerate brand growth.
This year we are looking forward to key fashion partnerships and robust influencer campaigns to share our brand philosophy with global markets.
What are some of the key marketing trends that you are gauging for 2022 especially focusing on the eyewear business?
The key umbrella trend for 2022 is not so much product-related but more of a shift in how consumers are using eyewear. From being considered a utility product, eyewear is now a key accessory for our consumers to express their personality and style. There is a boost of interest in no-power eyewear as it becomes a must-have accessory for individuals who love to express themselves via their style.
How has Lenskart founder Peyush Bansal’s participation at Shark Tank India helped boost brand salience? Would you say it is also generating conversions?
Peyush’s values have long driven Lenskart’s brand values and we are so happy that India got to see the remarkable entrepreneur and inspiring founder that he is. Shark Tank has definitely generated conversation for the brand across the country giving more credence to our belief that content and commerce need to be intertwined for all brands in this current market.
In terms of offline retail & franchise, what is the current strength of offline retail stores? What are the plans in terms of expanding the retail footprint?
Currently, the total number of offline stores is 950+. Lenskart now serves over 7 million customers each year through its omnichannel shopping formats, which include an online store, a smartphone app, and physical locations.
The goal is to improve the Omnichannel across the board so that we can continue to provide our consumers with a more efficient and intelligent shopping experience. In India’s tier II and III cities, shoppers prefer to visit retail establishments rather than use online e-commerce platforms. Through Lenskart’s franchise network development, we are eager to serve these tiers 2 and 3 markets, improving access to eye check-up services where it counts the most.
In terms of keeping ahead of the competition, what is Lenskart doing differently to stand out?
We don’t have a competitive mindset. Lenskart is an industry disruptor first and foremost and we are always on the lookout to do things differently. Disruption is in our DNA, it is not a response.
How has Lenskart’s proposition evolved over the years in order to cater to the evolving consumer behaviour?
The value of the consumer first is intrinsic to Lenskart, to that regard, the core proposition remains the same with our offerings evolving to cater to more needs of the new consumer. From bolder fashion statements as eyewear evolves from being a utilitarian product to one of self-expression to Lenskart Blu Computer lenses that protect consumers from blue light emitted from screens and Lenskart@Home eye check-ups and frame trials that come to your doorstep for easy accessibility. Clicks.
We have AR that uses an Artificial Intelligence-aided face detection feature to put together a curated list of styles for each online user and enables the shoppers to choose and superimpose any frame on their face, see how it would look in real life, and even share looks with friends and family. Therefore, we’re changing the way consumers shop for eyewear and at the center the question for us always remains – what will be more easier, fun, accessible and affordable way.
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