Vimal Jain (Product Manager)’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

🌟 𝐅𝐫𝐨𝐦 𝐌𝐨𝐝𝐞𝐬𝐭 𝐁𝐞𝐠𝐢𝐧𝐧𝐢𝐧𝐠𝐬 𝐭𝐨 𝐚 𝐁𝐢𝐥𝐥𝐢𝐨𝐧-𝐃𝐨𝐥𝐥𝐚𝐫 𝐕𝐢𝐬𝐢𝐨𝐧: 𝐋𝐞𝐧𝐬𝐤𝐚𝐫𝐭'𝐬 𝐓𝐫𝐢𝐮𝐦𝐩𝐡 𝐒𝐭𝐨𝐫𝐲 Curious about how Lenskart.com morphed into the eyewear titan it is today? Get ready for an adventure, folks, as we delve into a tale of ingenuity, tenacity, and dominating an untapped market 🚀 It all kicked off in 2010 when Peyush Bansal , armed with a dream and a hefty dose of frustration over limited eyewear choices, set out to revolutionize the Indian scene. Starting with contact lenses, Lenskart swiftly broadened its horizons to encompass eyeglasses and sunglasses, 𝐨𝐟𝐟𝐞𝐫𝐢𝐧𝐠 𝐮𝐧𝐩𝐚𝐫𝐚𝐥𝐥𝐞𝐥𝐞𝐝 𝐯𝐚𝐫𝐢𝐞𝐭𝐲, 𝐚𝐟𝐟𝐨𝐫𝐝𝐚𝐛𝐢𝐥𝐢𝐭𝐲, 𝐚𝐧𝐝 𝐜𝐨𝐧𝐯𝐞𝐧𝐢𝐞𝐧𝐜𝐞. But the road wasn't without its bumps. Lenskart encountered hurdles such as instilling trust in an online-exclusive model, surmounting logistical obstacles, and navigating a fragmented market. Nevertheless, they persisted, focusing on: 𝐂𝐫𝐚𝐟𝐭𝐢𝐧𝐠 𝐚 𝐜𝐮𝐬𝐭𝐨𝐦𝐞𝐫-𝐜𝐞𝐧𝐭𝐫𝐢𝐜 𝐞𝐭𝐡𝐨𝐬: From virtual try-ons to home trials, Lenskart placed a premium on a seamless shopping journey. 𝐈𝐧𝐯𝐞𝐬𝐭𝐢𝐧𝐠 𝐢𝐧 𝐞𝐱𝐜𝐞𝐥𝐥𝐞𝐧𝐜𝐞 𝐚𝐧𝐝 𝐝𝐢𝐯𝐞𝐫𝐬𝐢𝐭𝐲: Teaming up with premier manufacturers and providing an array of styles ensured there was something for everyone. 𝐄𝐦𝐛𝐫𝐚𝐜𝐢𝐧𝐠 𝐚𝐧 𝐨𝐦𝐧𝐢𝐜𝐡𝐚𝐧𝐧𝐞𝐥 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐲: Blending online ease with brick-and-mortar stores for tailored service empowered customers with choice. 𝐂𝐡𝐚𝐦𝐩𝐢𝐨𝐧𝐢𝐧𝐠 𝐢𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧: Introducing technologies like 3D eye scans and AI-driven recommendations revolutionized the eyewear buying experience. The outcome? Lenskart now flaunts: 1. Over 500 physical outlets dotted across India. 🇮🇳 2. Millions of delighted patrons. 3. A valuation exceeding $1.5 billion. 4. And the coveted title of **India's premier eyewear brand! 𝐖𝐡𝐚𝐭 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐜𝐚𝐧 𝐰𝐞 𝐠𝐥𝐞𝐚𝐧 𝐟𝐫𝐨𝐦 𝐋𝐞𝐧𝐬𝐤𝐚𝐫𝐭'𝐬 𝐣𝐨𝐮𝐫𝐧𝐞𝐲? - Spot market gaps and deliver inventive solutions. - Place customer needs atop the priority list and offer a seamless journey. - Embrace technology and perpetually evolve. - Forge a robust brand identity and stay unwavering in your values. What are your reflections on Lenskart's odyssey? Drop your thoughts below! #lenskart #EntrepreneurialJourney #India #innovation #business #startupindia Craving more success sagas from the content cosmos? Keep an eye out for my upcoming post!

Here's how data and analysis have fueled Zudio's success: Consumer Insights: By analyzing consumer preferences and purchasing behavior, Zudio has been able to tailor their product offerings to meet market demand precisely. Supply Chain Optimization: Leveraging data to streamline their supply chain has minimized lead times, ensuring that the latest fashion reaches the shelves quickly. Sales Performance: With an average sales figure of INR 17,000 per sqft compared to the industry standard of INR 10,000, data-driven decisions have maximized revenue per square foot. Strategic Expansion: Understanding market trends and competitor performance enabled Zudio to identify optimal locations for new stores, leading to a rapid expansion of 203 new stores last year. Financial Efficiency: A low payback period of just 1.5 years highlights their efficient use of capital, guided by thorough financial analysis. #DataAnalytics #BigData #DataDriven #BusinessIntelligence #DataScience #PredictiveAnalyticsb #MachineLearning #AI #DataVisualization #DataStrategy #Analytics #DataInsights #MarketAnalysis #DataMining #BusinessGrowth

*** Rising India in action *** I was astounded by the changes in the Indian retail sector. I went to get a new pair of prescription glasses from Lenskart.com. The whole process of taking prescription, ordering a new pair of spectacles and payment process was very seamless and smooth! You might ask - Well, this is expected anyway in the world we live in - Wait for the big reveal - Lenskart has 500 stores in Chennai alone. And I didn’t need to book an appointment weeks in advance- I just walked in - Compare to the situation in UK where you have to book weeks in advance and the amount you have to pay for the choice of spectacles. I can see the changes in India from just 3 years ago and it’s only going to accelerate from here on - watch this space 🚀 #Retailrevolution #Indiancentury

#Tata group has always been the mind boggling players in the market be it in any domain. Right after a miserable failure for tata nano car, have learnt a lot about the Indian mindset. we see how today the #harrier #safari captured my market. it's been my fav car #harrier. #tata #consumer #market

Zudio's Remarkable Growth and Market Strategy Zudio, a fast fashion brand, has outpaced McDonald's in India with 552 stores compared to McDonald's 512 outlets. This trend indicates that Indian consumers are buying more clothes than fast food. Fast Fashion Leader with Affordable Pricing- Zudio's appeal lies in its fast fashion model, offering trendy clothes at affordable prices, with everything priced under INR 999. The brand has become known for its dupes of trending clothes from multinational brands like Zara and Mango, making fashion accessible to a broader audience. The affordability and variety make it difficult for Gen Z shoppers to leave the store empty-handed. Zudio provides a wide range of products, from lip glosses and claw clips to wet wipes and fancy dresses, making it a one-stop solution for all fashion enthusiasts. By competing with multinational brands in terms of fast fashion and affordable pricing, Zudio has established itself as a brand that everyone knows about, irrespective of whether they have visited the store. The excitement around Zudio is palpable. For instance, a personal memory of visiting Udaipur includes eagerly awaiting a visit to the Zudio store and the thrill when a store opened in my vicinity. Effective Expansion Strategy- Zudio's expansion strategy of starting in tier 2 and tier 3 cities and then moving to tier 1 cities has been particularly effective. This approach has helped Zudio build a robust customer base in smaller cities before tapping into the larger urban markets. Ironically, Jodhpur, for example, has 3 Zudio stores but only 1 McDonald's outlets, highlighting Zudio's significant market penetration.

In the financial year 2023-24 (FY24), Zudio, Tata Group's budget-friendly clothing brand, made significant strides in the Indian retail market. The brand expanded its presence by entering 46 new cities and strengthening its foothold in 48 existing cities. This aggressive expansion strategy led to remarkable sales figures, with the brand selling 90 T-shirts every minute, 20 pairs of denim every hour, along with 19 fragrances and 17 lipsticks. Zudio's success is attributed to its focus on accessibility, affordability, and attractive product offerings. A key factor in Zudio's success is its strategy of minimizing lead times and ensuring fresh collections reach stores quickly. This approach has been a game-changer for the brand, allowing it to keep up with fast-changing fashion trends and consumer demands. Most of Zudio's merchandise is sourced from within India, which enhances accessibility, speed, and flexibility in its supply chain. In FY24, Zudio added 203 new stores to its network and revamped 10 existing stores, with an average store size of approximately 10,000 square feet. The investment for opening a new Zudio store typically ranges between Rs 3-4 crore, covering capital expenditure, deposits, and inventory. Zudio, introduced in 2016, had expanded to 161 cities with 545 stores, highlighting its rapid and extensive growth. Zudio operates under Fiora Hypermarket Limited, a wholly-owned subsidiary of Booker India Limited, which is itself a subsidiary of Trent. In FY24, Fiora Hypermarket Limited reported a total income of Rs 192.33 crore, up from Rs 187.25 crore in the previous year. The company's Total Comprehensive Income stood at Rs 12.47 crore, a significant turnaround from the Total Comprehensive Loss of Rs 11.98 crore in the previous year. Zudio's remarkable growth and performance in FY24 underscore its position as a key player in the affordable clothing segment. The brand's commitment to accessibility, fresh offerings, and strategic expansion continues to drive its success in the Indian retail landscape. #zudio #tatagroup #tata #ratantata #indianretailers #fashionbrand #syartups #marketinggrowmatics #startupnews

Kudos to Lenskart.com for delivering my glasses in less than 3️⃣6️⃣ hours to my doorstep! 🚀 I ordered Lenskart's BLU zero-power computer glasses on Sunday and got them on Monday. Applause to Peyush Bansal for such a fast delivery chain #management system. 👏 A few things I wanted to share as a customer about Lenskart HR: Cons: ❌ 1️⃣. I visited 4️⃣ Lenskart official outlets in Delhi to try these new glasses but couldn't find the collection in a single store. As a customer, it's very difficult to buy spectacles without trying them out. 😕 Pros:✅ 1️⃣. I must say, their app is super cool and feature-rich. It has an AI glasses try-out feature by which you can try any spectacle on your face. 🤖 2️⃣. A large number of collections of the latest styles and trends. 😎 3️⃣. The store experience is excellent and appealing. 🏬 So from my side, I give Lenskart a 4️⃣.5️⃣ rating out of 5️⃣ for their great service. ⭐️⭐️⭐️⭐️✨ Share your experience about your purchase from Lenskart! 😊 #lenscart #sunglasses #customerfeedback #productreview #marketing #digitalmarketing

McDonald's India has 512 stores, while Zudio has 552 stores! It seems people are buying more clothes than burgers and fries! A well-oiled flywheel is driving this impressive growth. Zudio's fast fashion is indeed fast. In FY23, they sold: - 90 T-shirts, - 20 pairs of jeans, - 17 lipsticks, and - 19 fragrances every minute. The model is straightforward: - ✅ Focusing on their captive brand and the latest fashion, minimizing lead times, and reducing the time from design to shelf. - ✅ This strategy resonates with Indian consumers, with Zudio stores averaging INR 17,000 in sales/sqft compared to the industry standard of INR 10,000. The key to success lies in the flywheel effect. With a low payback period of just 1.5 years, Zudio has been expanding rapidly, adding 203 stores last year, bringing their total to 552 stores in India—surpassing McDonald's outlets (512). The parent company, Trent, has experienced a significant stock jump, increasing by 5 times in just 2 years since Zudio's launch. This growth has been incredibly rewarding, as Trent remains my largest direct holding. What do you think about this trend? Is the current PE ratio of 127 for Trent justified? Share your shopping experiences at Zudio and your perspectives in the comments below. #learning #mondaymotivation #tata #zudio #Mcdonalds. ---

A Constructive Critique of lenskart's Tech Claim Today, I visited the Lenskart.com store in Kalol, Gujarat, and had an experience that made me question the tech-focused claims often highlighted by Mr. Peyush Bansal Bansal on Shark Tank India. Here are some key points: 1. System Limitations: Despite the emphasis on technology, I encountered a significant issue when trying to remove an unwanted ₹500 Gold Membership charge from my order. The system didn’t allow the store executive to modify the order, highlighting a lack of flexibility and user control. 2. Inventory Management: After cancelling the initial order to remove the unwanted charge, the frames I wanted were suddenly out of stock. This indicates inefficiencies in the inventory management system, as it didn’t restock the cancelled items immediately. 3. Payment Process Issues: The reliance on the app for payment, coupled with glitches and a lack of alternative payment options, caused further delays. Due to a touch issue on my phone, the order was cancelled again, and it took the executive 10-15 minutes to find a workaround. 4. Customer Experience: Overall, these glitches wasted approximately an hour of my time. The technology in place did not enhance my customer experience as intended, suggesting a gap between the claims and the actual service provided. 5. Tech vs. Talk: While Lenskart.com claims to be a tech-focused company, my experience suggests there’s room for improvement. It’s crucial to focus on practical tech solutions that genuinely improve the customer journey rather than just talking about being tech-driven. 6. Need for Practical Solutions: Emphasizing the importance of practical tech solutions, I hope Lenskart can address these issues to truly enhance the customer experience. Mr. Bansal, your vision for Lenskart is inspiring, but it’s essential to ensure that the technology in place lives up to the claims. Focusing on real improvements will make a significant difference. #CustomerExperience #TechChallenges #Lenskart #RetailTech #SharkTankIndia