program. Through this they have created a huge incentive among socially conscious millennials to stay loyal to the company and refer others. Warby Parker has even gone further in its effort to have a positive social impact by expanding its philanthropic efforts to concern the environment as well. The eyewear company measures its greenhouse gas emissions from operations and purchases carbon neutralizers to minimize its carbon footprint. Warby Parker aims to remain transparent in all aspects of company operations and publishes annual reports that deliver information on their charitable efforts and environmental stances. They are also concerned with fair labor practices and
Warby Parker 11 maintain a careful watch on the working conditions of their labor facilities. Warby Parker is a certified B Corp business meaning that they must maintain rigorous standards of social and environmental performance, accountability, and transparency (Marquis, 2014). Online Shopping is Becoming More Popular The ecommerce trend in the United States and around the world is at an all-time high. Consumers have largely shifted from in-store shopping to online shopping for numerous reasons. Online retail is a better channel for consumers to find products they love for much cheaper prices than what they find at the store. Warby Parker has a huge price advantage over competitors and one of the reasons they are able to provide affordable glasses is due to the reduction of costs from the elimination of brick and mortar locations. Another chief complaint of in store shoppers is that department stores and malls are often extremely crowded, especially on the weekends or around holidays. Optical centers can regularly have long wait times or lack of merchandise on the shelves. Warby Parker capitalizes on this in-store downfall by offering an interactive user friendly website that allows consumers to browse many styles, easily enter their prescriptions, and try on glasses virtually. Online stores offer the convenience of a 24/7 option where consumers can shop at their own pace at whatever time is convenient for them (Miller & Clifford, 2013). Development of New Styles and Products
Warby Parker 12 Although Warby Parker is known for its notorious vintage hipster style a huge opportunity lies in the expansion of design and target consumers. If the urbanistic eyewear retailer would expand their horizons to a wider variety of fashion trends they could attract customers who do not fit the currently targeted hipster persona. Although the current product offering is very trendy, many consumers are reluctant to buy such a fashion forward pair of glasses that does not fit their personal identity (Coppola, 2013). Warby Parker is losing business to competitors like Luxottica that offer a wider variety of products and tailor to the needs of different consumer demographics such as children and older professionals. If Warby Parker would be willing to expand their style portfolio
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- Spring '14
- Sunglasses, Warby Parker