Understanding Warby Parker’s success
Hi everyone!
Today we will be discussing the interesting case study of Warby Parker and how they changed the eyewear market.
To understand Warby Parker’s success we must start at the foundations of consumer behavior. According to Valentin Radu “Consumer behavior is the study of consumers and the processes they use to choose, use (consume), and dispose of products and services, including consumers’ emotional, mental, and behavioral responses.” That said, the eyewear market had always been one where the consumer had to be present in a showroom to purchase. So how exactly did Warby Parker obtain the status they have today? They implemented a variety of strategies to boost their brand name in a market that was saturated with companies implementing the same strategies. From designing their own eyeglasses, to establishing partnerships to aid a social cause, to altering consumer behaviors when purchasing eyewear. The Warby Parker brand was innovative and daring which lead them to success.
They decided to be innovative when they started to design their own eye wear in house which drastically reduced their purchasing costs. That sounds like a great strategy, right? Well, Warby Parker was on to a great start but had to find a way to reach out to those consumers who preferred being present to choose the type of glasses they were going to invest on. Which is when the company opted to engage with their consumers through social media platforms. To challenge the traditional way of purchasing eyewear in a physical store they opted to offer their consumers free shipping as a way to give consumers more piece of mind. This strategy also allowed them to not only develop a relationship with their consumers but to change the narrative of purchasing eyewear. Apart from free shipping the company was also able to offer consumers the benefit of trying 5 pairs of glasses through online services. Meaning the customer can order up to five pairs of eyeglasses to try on at home without ever setting foot in a physical location. What a great way to allow customers to try out your brand without the fear of loosing their investments right? They were also able to establish a partnership with Vision Spring, a global social enterprise, in which for each Warby Parker eyeglass sold they would provide a pair of eyeglasses for a person in need. Through this business partnership, the company has been able to give away over 500,000 pairs. Author Alisoun McKenzie explains that “Supporting charities and social causes through your business is actually a great way to get more clients, grow your business and have social impact.” Warby Parker also has over 200 physical locations now and has begun offering contact lenses to maintain their status in the eyewear market.
This case study shows the power that social media can bring to a company no matter the size. Sometimes challenging the traditional methods can allow a business to thrive against the status quo. Not forgetting the importance of transparency when building relationships with your target audience can bring a brand’s equity and standing.
Learn more about the history of Warby Parker here! Also check out Warby Parker’s social channel below.
Do you think other companies should gravitate towards any of these strategies? Let me know your thoughts!
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References
Radu, V. (November 26, 2019) “Consumer Behavior in marketing patterns, types, segmentation” https://www.omniconvert.com/blog/consumer-behavior-in-marketing-patterns-types-segmentation/
Mckenzie, A. (Febuary 10, 2015) “10 Good reasons to support charities and social causes through your businesses” https://alisoun.com/10-reasons-its-good-to-support-causes-through-your-business/
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