Warby Parker promotes a sound ethical culture and encourages their consumers

Warby parker promotes a sound ethical culture and

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Warby Parker promotes a sound ethical culture and encourages their consumers and employees alike to make a positive impact whenever possible. Weaknesses Low Levels of Brand Awareness
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Warby Parker 7 Warby Parker has experienced astronomical success in a business that has been previously difficult to penetrate, however they are still fairly new to the market. Other more established brands have already created strong brand awareness and loyalty with consumers in the eyewear market. Unless the design or coloring of a particular pair of glasses is highly unique to the company, it is extremely unlikely the average individual would recognize a pair of glasses as Warby Parker’s. In order for Warby Paker to increase their brand awareness they must continue promotional efforts as well as develop more products that appeal to a wider range of consumers. Mainly Available Online In store optical shops remain the most preferred retail channel for purchasing eyewear for both contact lenses and spectacles (Hunter, 2008). The ease and convenience of optical shops are preferred by consumers since they are able to have an eye exam and consult with an optometrist as well as browse, try on and purchase eyewear all in one stop. Warby Paker loses consumers who would rather consult with a professional before purchasing expensive prescription glasses. They also have a hard time winning over people who are skeptical about virtual try-ons. If Warby Parker could increase their brik and mortar presence it would help to bridge the divide with consumers who are not ready to commit to online optical care. Insurance Warby Parker struggles in the prescription eyewear category where competitors like Luxottica excel due to the fact that they do not take insurance as a form of payment. Although the company does disclose that they are willing to provide consumers with the
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Warby Parker 8 necessary documents they need to submit to insurance for a reimbursement, this is often too much trouble for many consumers. Warby Parker is losing business from people who would rather take their business to a retailer who is willing to work with their insurance without the customer having to get involved. If Warby Parker could come to an agreement with select insurance providers or create a partnership with an optical center they could gain business from optical care subscribers. Threats High Rate of Intimidation Warby Parker's most potentially detrimental threat is the monopolistic level at which its biggest competitor, Luxottica, operates. Luxottica has essentially created a vertically integrated monopoly that continuously acquires name brands to join their business and opens new stores worldwide. Although Luxottica cannot compete with Warby Parkers economical prices they have many other advantages over the new retailer. Luxottica has many style options for the mid- to premium-priced eyewear consumer. The sunglasses giant is the name behind popular retailers such as Ray Bans, Lens Crafters, Sunglasses Hut and Target and Sears optical ().
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  • Spring '14
  • EtienneMusonera
  • Sunglasses, Warby Parker

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