Bangalore, 16th December, 2023:
Lenskart, a powerhouse in the eyewear industry, has found itself at the forefront of an unexpected revolution in the realm of omni-channel retail. What started as a digital journey has transformed into a pioneering success story, rewriting the rules of engagement in the eyewear retail landscape.
The revelation unfolded during an engaging conversation between Ramneek Khurana, Co-founder of Lenskart, and Ashish Dhir, Executive VP at 1Lattice, at the Internet Commerce Summit 2023 in Bengaluru on December 12.
The turning point came when Lenskart, known primarily as an online platform, was identified as an omni-channel player by investors around 2015-’16. This unexpected characterization marked the beginning of Lenskart’s unplanned but groundbreaking foray into omni-channel retail.
“Our omni-channel journey was very simple. We started Lenskart as an online platform because that is the easiest and most cost-effective way to figure out our journey,” explained Khurana.
The shift to omni-channel was prompted by Lenskart’s responsiveness to fundamental consumer concerns. As an online platform, the brand faced challenges such as customers hesitating to make purchases due to uncertainties about frame fitting, appearance, and prescription issues. In a swift response, Lenskart initiated an unconventional omni-channel strategy, starting with the establishment of a few physical stores.
“We stumbled upon it, but were prompt in addressing the consumer problems,” Khurana added.
Lenskart’s transition from online to offline was marked by inventive solutions. The brand introduced features such as infinite trials and omni-channel returns, directly addressing specific pain points that hindered the online shopping experience. Unlike traditional retail approaches, Lenskart’s journey involved a shift from online to offline, bringing attention to products not physically present in stores.
Khurana shed light on Lenskart’s evolving omni-channel strategy, emphasizing the pivotal role of Artificial Intelligence (AI) and Machine Learning (ML). The brand leverages these technologies to tap into regular CCTV footage across stores, obtaining valuable insights into customer behavior and decision-making processes.
Discussing the ongoing evolution of their strategy, Khurana highlighted the use of AI and ML to study the online conversion funnel. This includes understanding demographics, time spent on product selection, and various other factors aimed at making the customer journey frictionless.
The brand aspires to bridge the gap between online and offline experiences, bringing online features into the offline shopping journey and vice versa. By deploying AI and ML, Lenskart aims to provide personalized assistance based on anonymized data from millions of purchases.
Khurana concluded by acknowledging Lenskart’s commitment to unlocking new data use cases, making the brand adept at collecting and utilizing data to enhance customer experiences. This accidental revolution from digital ignorance to omni-channel mastery positions Lenskart as a formidable player in the eyewear retail landscape, rewriting the rules of engagement in the industry.
