Palak Bansal’s Post

Lenskart! Yesterday, I went to a Lenskart store to buy a new pair of glasses; it had been a while since I had wanted to replace my new glasses. Since lenskart started its operation i have been a loyal customer( it's okay to say out loud). I do not like spending extra time shopping, and that's why Lenskart's tech integration with enhanced customer experience helps people like me make decisions quickly without wasting time. I first spotted the Hustlr range of sunglasses on the sets of Shark Tank India with the founder Peyush Bansal himself wearing those(a superb marketing strategy); in my view, the Hustlr range of sunglasses is trendy, lightweight, and easy to use( shows how the company incorporates external feedbacks & trends in the market). Post-purchase, when I asked the person when I should come to collect my sunglasses, the response was, "Sir hum ghar par bhi deliver kar denge," which was a lifesaver for me considering the pain one has to take traveling on 'the wide & empty streets of Mumbai.'. To my surprise, from the time of purchase & delivery, it took only 20 hrs for Lenskart to deliver the sunglasses to my doorstep. This is one thing every entrepreneur should take lessons on: how to maximize the customer experience and keep improving day in and day out. The days we had to wait a week to get the product have now been reduced to less than a day. Hats off to the team Lenskart.com Peyush Bansal Building for India. #product #CustomerExperience #tech

#Green Soul Ergonomics Order ID - OD329963807310656100 Hi #Ravi Khushwani #flipkart I purchased a product from Flipkart worth of 6000rs office chair and in that description it was mentioned that it is arm adjustable so by confirming that I placed an order and when I received the product it was not an arm adjustable and I raised a complaint against that but customer exicutive refused to proceed further and later onwards by trying around 4-5times they sent some people to verify but they verified here and confirmed that it is not arm adjustable and the in description it was mentioned as arm adjustable but they have been got an order to remark it as a issue not found so they went back by telling that we are commanded to do so and again I contacted customer exicutive but they are refusing to resolve my issue. Now the product has been damaged such a poor quality product they have sent us , and they are telling like the window is closed. My question is how can they close the window when the customer is facing issues. Such a worst platform I have ever seen . Always I do face issues with the product I order from the Flipkart and the saddest part is we won't get justice for the money we spent . I never prefer Flipkart again . # very worst #dontorder#worst #boycott #customerexperience #Arnav Kishore #Green Soul #flipkart #flipkartforindia #Amitesh #Kalyan Krishnamurthy #Ravi Khushwani

How is Tata competing with H&M and other brands in Fashion?? Tata Group's Zudio is reshaping fashion retail with 352 stores in just 6 years and ₹3,540 crores in sale with the profit range of 16-20% Their Strategy? 1. Serves middle-class consumers in smaller cities and suburban areas, offering fashion priced from ₹49 to ₹999. 2. Reduces design and manufacturing costs, quickly responding to fast trends and restocking stock weekly. 3. Uses Franchise Owned Company Operated (FOCO) model for rapid growth. Franchisees set up stores; Zudio manages operations. 4. Chooses suburban and smaller city areas, cutting rent costs. Stores generate ₹12k-15k per square foot, surpassing industry averages of ₹8k-10k. 5. Relies on word-of-mouth, avoiding heavy advertising. Zudio's customer focus, cost-saving measures, and strategic expansion drive its success, with sales increasing from ₹144 crores in 2018 to ₹3,540 crores in 2023.

Competition in business is the best growth catalyst. For the past 20 years, a local optical store has been the only eyewear shop in my neighbourhood. But a few months ago, Lenskart opened just a few doors down, and everything started to change.  In no time, Lenskart became the go-to spot for people who once relied on our local shop. Suddenly, the local optical store began stepping up its game. When I visited recently, I noticed a remarkable difference—in the customer experience, product offerings, and even the shop owner’s approach. What caused this transformation? Competition! Let’s see how. Competition drives innovation and efficiency. When Lenskart entered a market dominated by traditional optical shops that relied on physical try-ons, it introduced augmented reality for virtual try-ons and created a robust online presence. By setting new standards for convenience, affordability, and customer service, Lenskart didn't just compete—it forced the entire industry to elevate its game. Competition enhances product quality.  Look at Maruti cars pre- and post-globalisation. With the entry of global car manufacturers, Maruti transformed its processes and systems to match its models to the global ones. Competition is instrumental in helping companies rethink their strategies and improve efficiency. Competition benefits the consumer. Let’s take another industry - platforms like Swiggy and Zepto have redefined convenience, forcing QSRs to adapt or risk irrelevance. These platforms have set a new standard for delivery speed, pushing the entire industry to innovate.  Today, food arrives at our doorstep in minutes, and consumers benefit from a wider variety of options, better service, and enhanced convenience. Irrespective of industries, competition is great.  My experience has taught me that competition isn’t a hurdle—it’s a catalyst for growth and innovation.  #competition #India #createwealth #dezerv

Starting from just one shoe store in Mumbai in 1955 that her grandfather Malik Tejani opened, Farah Malik Bhanji grew Metro Inc. to a ₹31,450+ crore brand as its Managing Director. (The Financial Express) Here's a look at her inspiring journey: Born into a business family, Farah grew up watching her father, Rafique Malik, expand the company. After completing her education, Farah joined Metro Shoes in 2000. She started on the shop floor, learning every aspect of the trade. Her passion, eye for detail, and relentless work ethic soon made her an integral part of the business. In 2007, a turning point came when Rafique Malik sold a 15% stake to renowned investor Rakesh Jhunjhunwala. This not only brought fresh capital but also strategic expertise to guide Metro's expansion. Impressed by Farah's vision and drive, the board appointed her as Managing Director in 2011. Taking the reins, Farah focused on expanding Metro's footprint while upholding its legacy of quality. She led the company into tier-2 and tier-3 cities, making Metro a household name. Farah also forged key partnerships with global brands like Skechers, Crocs, and Clarks, expanding Metro's offerings and brand equity. Behind the scenes, Farah invested heavily in technology and supply chain optimization. She digitised inventory management, introduced CRM systems, and streamlined logistics. These initiatives paid off during the pandemic, as Metro's robust online presence saw it through trying times. However, the journey wasn't without challenges. Navigating a male-dominated industry, Farah had to work twice as hard to prove herself. Balancing motherhood and her career tested her resilience. Economic downturns and changing consumer preferences posed constant threats. Yet, Farah's grit and adaptability helped Metro weather every storm. As India's wealthiest woman entrepreneur with a net worth exceeding Rs 26,000 crore, Farah Malik Bhanji is an inspiration. Her journey from the shop floor to the boardroom is a masterclass in determination, vision, and the power of chasing one's dreams. What lesson from Farah's journey inspired you the most? Share your thoughts in the comments below. #brands #success #retail

What makes a successful business last long? Are the numbers that we make out of the business important? Or What is the positive impact that is created among the customers? My answer to this is that true fulfillment lies in creating a positive impact. More than money it's how you satisfy your customer's needs that makes you stand out of the crowd. When I started my brand APTTO this was my thought. My motive was to provide branded clothes at an Affordable rate. APTTO was started with a motto – “Fashion for everyone everywhere – Affordability is the key” This has led to the successful milestone of launching my website www.aptto.in after its increased sales on Flipkart and other E-Commerce Websites. A successful business is all about making a difference that creates a lasting impact!! Check our website, “ www.aptto.in " for our range of collections. Amanullah CEO – Grow More Clothing/APPTO #APTTO #Affordibility #positiveimpact #customerneeds

🔍 **Attention Lenskart Customers and Community! Urgent Assistance Needed. 🆘** I recently made a purchase of two eyeglasses from Lenskart with an order value of approximately Rs 5000. The ordering process went smoothly until I faced a significant issue with the delivery. After completing the payment, Lenskart assured me that my order would be delivered to my home within 4 to 5 days. However, when my order reached the nearest courier hub, I was informed by the DTDC Courier partner that I needed to personally pick up my order from their office. Home delivery was not an option, and failure to pick it up would result in the order being returned. I reached out to Lenskart Support Team for assistance, but unfortunately, I have not received any help or resolution to date. As a customer, this experience has been extremely frustrating, especially considering the substantial amount involved. I am sharing this experience here in the hope that it reaches the Lenskart Support Team and that they can address this issue promptly. If anyone has faced a similar situation or has advice on how to resolve this matter, I would greatly appreciate your insights. Let's spread awareness and seek assistance together. Your support in resolving this matter is highly appreciated. 🙏 #Lenskart #CustomerExperience #SupportNeeded #DeliveryIssue #CustomerService #LenskartSupportTeam #dtdcourier DTDC Express Limited DTDC Courier & Cargo Ltd. Lenskart.com

Recently, I had the privilege of meeting Mr.Gautam Saraogi the founder and CEO of Go Colours, and the insights gained were invaluable. A few key notes from this discussion. Building a Brand in a Low-Differentiation Category: ·  Identified a gap in the women’s bottomwear market as they shifted from saris to two-piece separates. ·  Focused on the niche of bottomwear, which had few organized players. Growth and Unit Economics: ·  Started in 2010 with general trade, then moved to kiosks, and finally EBOs (Exclusive Brand Outlets). ·  Focused Expansion: Reached about 80-100 kiosks, focusing initially on a small area in Chennai. This localized saturation ensured that Go Colours became a household name, leading large format stores (LFS) to approach them instead of the other way around. Achieving 30%+ EBITDA Margins: ·  Focused on rent-to-revenue ratios and gross margins. ·  Adapted strategies based on real-time feedback and performance metrics.   Growth Milestones: ·  Opened the first kiosk in Chennai and expanded to 80-90 kiosks nationwide by 2013-2014. ·  Transitioned from kiosks to stores, reaching 650+ stores by 2023. ·  Focused on maintaining a healthy rent-to-sales ratio and high gross margins with small stores, mostly under 300 sq ft. Category Focus: ·  Stick to core categories as long as growth exceeds 20-30%. Growth and Adjacencies: ·  Prioritize vertical growth over horizontal expansion. ·  Enter new categories only when current ones are fully matured. Cluster Strategy: ·  Evaluate growth at the cluster level rather than individual stores. ·  Ensure revenue growth aligns with cost increases in clusters. Average Bill Basket: ·  Monitor the average bill basket for growth. ·  Focus on increasing the average transaction value per customer. From 189 crore in FY 2017-18 to Rs 665 crore in FY 2022-23, while EBITDA grew by 43% to Rs 212 crore in FY 2022-23 from Rs 36 crore in FY 2017-18. This remarkable growth underscores the effectiveness of Go Colours' strategic approach and disciplined execution. Meeting Mr.Gautam Saraogi highlighted to me the power of strategic focus, disciplined growth, and market adaptability. Their journey from a single kiosk to a nationwide brand is a testament to smart, data-driven decision-making and relentless dedication.  #BusinessInsights #RetailSuccess #GoColours #Entrepreneurship #StrategicGrowth

Lenskart’s sales jumped 152% to Rs 3927.9 Crore in FY23! This is a great jump from the previous year's sales of Rs 1,502.7 Crore. Its net loss dropped 38% to Rs 63.7 Crore from Rs 102.3 Crore in FY22. Its EBITDA stands at Rs 403.7 Crore whereas EBITDA was only Rs 1 Crore in FY22. Lenskart’s 95% of its revenue came from eyewear products. Here are 5 possible factors that catalysed Lenskart's growth: 1. Increased Online Demand: Consumers are becoming comfortable buying eyeglasses online. Due to its user-friendliness and virtual try-on options, it has become a superb combination. 2. Omnichannel Strategy: Customers browse and buy online or visit offline stores for eye testing and consultations. 3. Product Diversification: Lenskart has expanded its product offerings across sunglasses, contact lenses, and fashionable frames for a wider customer base. 4. Strategic Investments: In 2023, it raised $600 million in funding at a valuation of $4.5 billion in 2023 from ChrysCapital Advisors and others. It's leveraged the funds for marketing, product development, or factory construction. Such as it is now looking for a factory land in Bangalore. 5. Strong Brand: Lenskart has built its brand image through great campaigns with Kiara Advani, Karan Johar, and many others. Peyush Bansal’s brand has also worked wonders. CEO Peyush’s focus on innovation, affordability, and convenience worked great in targeted markets in India and abroad. Have you been a Lenskart customer earlier? Do you think Lenskart has been a great market leader in eyewear? #india #startup #strategy #brand #growth

Ladies and Gentlemen, let me have the opportunity to ask you all a question. You might know Flatheads, a brand under Styched, if not, do you remember the emotional pitch of Mr. Ganesh Balakrishnan on Shark Tank India? I too like some of you, was touched by his presentation and when I needed a shoe, I decided to ditch my personal favorite Bata Group, and go for Flatheads! So far so good.... The shoes I ordered were of a WYN (Wear Your Name) series and this required some customization on the manufacturing end, which I think is a valid reason for having a longer timeline for order fulfillment. I had placed the order on Feb 18th, 2024. Now my question is when should I start to think that I have waited enough for my order? Apparently, management at Styched thinks 8th of July, 2024 is still quite early to commit on any ETA, hence I should be patient enough. It would be great to have some insights from you all!!! Also a fun fact; the cricket presenter Gaurav Kapoor is associated with Flatheads in some way I don't fully understand. In case, he reads this can I request him to ask the management, "Char Mahine Lagte Hain Kya Naam Chapwane Mein?" And you know what, I know my name has too many alphabets, that's why I asked them to print only "RISHI". Update: As a pre-legal step, I have raised the issue with National Consumer Helpline. As of now Styched hasn't made any redressal effort. Nice knowing that these brands don't care about their customer experience. #SharkTankIndia,#StartupIndia,#ConsumerAffairs,#Flatheats,#India,#Bengaluru,#Kolkata,#Mumbai,#Gurgaon,#Delhi,#Fashion,#RetailIndustry,#Shoes,#IndianBrands,#Bata,#Khadims,#Footware,#Customer,#Service,#ConsumerExperience,#Consumer, #Complaints,#Fraud