There are two main reasons that would support a decision to expand:1. Warby Parker stands for social causes, and although they are not yet a largely-recognized brand, 80% of Americans have said they’d be willing to switch brands for a social cause.,2. Although they are not as big as Nike, they have a growing brand image to capitalize on. Their brand image can translate to related industries.What are some reasons that would support a decision by Warby Parker to not expand to products beyond glasses? Warby Parker has created its reputation on disrupting the eyewear industry and challenging Luxottica. They are fundamentally changing the eyewear industry, and should continue to focus their resources on further disruption and industry revolution.What actions has Warby Parker taken that have allowed the firm to at least in part successfullydisrupt a large industry that has been dominated by a single company, Luxottica? Warby Parker has undercut Luxottica in pricing by offering competitive, yet relatively inexpensiveeyewear alternatives. Warby Parker’s social stances and contributions to society helped nudged consumers toward the brand. When choosing between two nearly-identical brands, consumers chose the one that was not only inexpensive, but also contributed back to society.
Warby Parker has specifically targeted a younger demographic that Luxottica was doing a poor job in reaching out to. They have branded themselves as being hip, young, and progressive – all adjectives young people prefer. Also, they have a far larger online presence than Luxottica, further attracting a younger audience and eliminating brick-and-mortar costs.What can an entrepreneur learn, regardless of the industry he or she is entering, by how Warby Parker redefined the customer experience in its industry?An entrepreneur can learn that convenience is a key factor in building a customer base. The Internet is a key tool in marketing, and too many older industries – particularly those with few companies running them – have severely failed to catch up with the times. This creates a critical weakness that entrepreneurs must take advantage of. Warby Parker also capitalized on this by introducing their Home Try On program, which allowed customers the convenience of trying on glasses without the financial risk or need to visit a brick-and-mortar location.