Indirect Competition The Warby Parker major indirect competitors are the contact lenses brand. It is found that contact lenses fulfill the necessities of the consumers with poor visual perception. This contact lenses which poses indirect competitors to Warby parker are Air Optics, Proclear and Acuvue. Market/Submarket
Since 2009, the eyewear market around the world has expanded every year. The market is comprised of four fundamental classifications, which are, prescription glasses, sunglasses, contacts, and reading glasses. In recent year of 2014, more than 95.9 million sunglasses were sold, out of the 95.9 million and around 4.9 million units were sold on ecommerce. Warby Parker compete in a small percent of the industry which is both a risk and open door for Warby Parker. It is a risk in light of the fact that Warby Parker has such a barely characterized market, to the point that any changes in the market, or potentially purchaser inclination can be hindering to the company’s prosperity. It can likewise be viewed as an open door, on the grounds that Warby Parker can distinguish additional market like customers buying prescription glasses at lower cost. Warby Parker's brand is known to focus on the younger people with the specific end goal to effectively grow their business around the world, Warby Parker ought to target countries that have high Gross Domestic Product (GDP) and solid economies. A nation's GDP can be profitable to Warby Parker since it demonstrates the nation's per-capita income in comparison to its living condition in the country. Since Warby Parker is an American eyewear organization, it ought to center its consideration in the countries with same similarities with the United States. For example, countries like Japan, United Kingdom, Germany and Canada with high level of GDP. Japan is strong financially, and it has a GDP of $4,123.26 billion, and a Gross National Income of $31 384. Warby Parker is a low cost and it will be acknowledged in Japan and the Japanese purchasers might be willing to pay for Warby Parker's eyewear products. Japan is a decent target market for Warby Parker. Japanese is a financially stable country and their customers have a tendency to have high acquiring or purchasing power. In addition, Warby Parker ought to inspect the cost of goods and Japanese cultural differences in contrasted with the United States.
Germany is another country with strong economy and eyewear market is constantly growing. Germany GDP was $3,355.77 billion in 2015 which represents 5.41 percent of the world economy and it’s ranked the sixth strongest economy in the world [Tra16]. Germany is extremely valuable market for Warby Parker eyewear. Germany has an enormous and beneficial eyewear industry and dominant part of Germans either buy eyeglasses or contact lenses.
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- Summer '19
- Brand, Warby Parker