PROJECT REPORT

On
LENSKART

Submitted To – DSEU PUSA 2 CAMPUS

Submitted By – MANAV SOLANKI

ROLL NO – 40622030
PROGRAMME – B.B.A. (RTM)

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 Acknowledgments

I would like to extend my deepest gratitude to everyone who supported and contributed to the
successful completion of this project.
First and foremost, I am profoundly grateful to [Professor's Name] for their invaluable guidance,
encouragement, and expertise throughout this endeavor. Your insightful feedback and unwavering
support were crucial to the development of this project.
I would also like to thank [Department/Institution Name] for providing the resources and facilities that
made this research possible. The supportive environment and access to valuable materials greatly
facilitated my work.
My sincere thanks go to my fellow students and peers, especially [Names], for their constructive
critiques and stimulating discussions that helped refine my ideas and approach.
A special mention goes to my family and friends for their patience, understanding, and encouragement
during the course of this project. Your support and belief in my abilities were a constant source of
motivation.
Finally, I would like to acknowledge [Any Additional Individuals or Organizations] for their [specific
contributions, e.g., data, mentorship, etc.]. Your assistance was instrumental in achieving the goals of
this project.
Thank you all for your support and contributions.
Sincerely,
MANAV SOLANKI

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 Table of Contents

Sl. No. Title Page No

1. Introduction
a. Customer Satisfaction - Definition 4 - 10
b. How to Measure Customer Satisfaction 11 - 13
c. Effectiveness of Promotional Activities 13 - 15
2. Research Design
a. Objectives 18
b. Scope of the Study 18
c. Research Methodology 19
d. Problem Statement 19
e. Limitations 19 - 20
3. Company Profile
a. Introduction about Lenskart 22 - 25
b. Membership, Market Size, Ownership 26 - 27
c. Vision Statement, Mission and SWOT Analysis 27 - 28
d. Lenskart Competitors 29
e. Lenskart Revenue and Growth 29 - 31
f. Lenskart Business Model 31
g. Challenges Faced and Future Plans 31 - 32
5. Data Analysis and Interpretation 34 - 53
6. Findings, Suggestions and Conclusion 55 - 57
7. Annexure 58 - 61
8. Bibliography 62

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Executive Summary:
The dramatic entry of Lenskart into the Indian eyewear industry landscape signaled a paradigm
shift in conducting the business with complete reliance on the brick-and-mortar stores. 2010 is a
milestone in the history of the Indian eyewear industry as it gave consumers more convenient
options for buying eyewear products online.
Until the end of the first decade of the new millennium, the optical business in India firmly held
on to the traditional business model of conducting business through brick and mortar stores
only. One had to visit an optical store or any other retail shop that sold eyewear products for
buying spectacle frames and lenses, contact lenses and sunglasses. Most optical stores provided
the service of eye checkups for the convenience of customers, which also helped attract
new customers. Although the E-commerce business was fast gaining traction during this time
and online shopping was fast catching up, it focused mainly on household items and appliances,
groceries, food and supplies, clothing, footwear, jewelry, electronics, toys
and games, smartphones, and digital gadgets and many more. Sunglasses were perhaps the only
eyewear that was available online. However, one had to visit a physical store to buy spectacles
and contact lenses.
Lenskart offers 5000+ different models of eyewear and offers free home delivery with a 14-day
replacement guarantee. The company manufactures everything in the eyewear category, from
sunglasses to reading glasses to contact lenses.

In this sector, there are three success factors: product, quality and portfolio, delivery time, and
after-sales support. The value proposition of the brand is straightforward, which is to “deliver a
high-quality product at a reasonable price.”

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Chapter – 1
Introduction

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Customer Satisfaction:

Customer satisfaction Customer satisfaction is a term frequently used in marketing. It is a

measure of how products and services supplied by a company meet or surpass customer
expectation. Customer satisfaction is defined as "the number of customers, or percentage of total
customers, whose reported experience with a firm, its products, or its services (ratings) exceeds
specified satisfaction goals."

It is seen as a key performance indicator within business and is often part of a Balanced
Scorecard. In a competitive marketplace where businesses compete for customers, customer
satisfaction is seen as a key differentiator and increasingly has become a key element of business
strategy.

Within organizations, customer satisfaction ratings can have powerful effects. They focus
employees on the importance of fulfilling customers’ expectations. Furthermore, when these
ratings dip, they warn of problems that can affect sales and profitability. These metrics quantify
an important dynamic. When a brand has loyal customers, it gains positive word-of-mouth
marketing, which is both free and highly effective. Therefore, it is essential for businesses to
effectively manage customer satisfaction. To be able do this, firms need reliable and
representative measures of satisfaction.

In researching satisfaction, firms generally ask customers whether their product or service has
met or exceeded expectations. Thus, expectations are a key factor behind satisfaction. When
customers have high expectations and the reality falls short, they will be disappointed and will
likely rate their experience as less than satisfying. For this reason, a luxury resort, for example,
might receive a lower satisfaction rating than a budget motel even though its facilities and
service would be deemed superior in 'absolute' terms.

The importance of customer satisfaction diminishes when a firm has increased bargaining power.
For example, cell phone plan providers, such as AT&T and Verizon, participate in an industry
that is an oligopoly, where only a few suppliers of a certain product or service exist. As such,
many cell phone plan contracts have a lot of fine print with provisions that they would never get
away if there were, say, a hundred cell phone plan providers, because customer satisfaction
would be far too low, and customers would easily have the option of leaving for a better contract

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offer.

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There is a substantial body of empirical literature that establishes the benefits of customer
satisfaction for firms.

Customer satisfaction provides a leading indicator of consumer purchase intentions and loyalty.
Customer satisfaction data are among the most frequently collected indicators of market
perceptions. Their principle uses are twofold:

1. Within organizations, the collection, analysis and dissemination of these data send a message
about the importance of tending to customers and ensuring that they have a positive experience
with the company’s goods and services.

2. Although sales or market share can indicate how well a firm is performing currently,
satisfaction is perhaps the best indicator of how likely it is that the firm’s customers will make
further purchases in the future. Much research has focused on the relationship between customer
satisfaction and retention. Studies indicate that the ramifications of satisfaction are most strongly
realized at the extremes. On a five-point scale, individuals who rate their satisfaction level as '5'
are likely to become return customers and might even evangelize for the firm. (A second
important metric related to satisfaction is willingness to recommend. This metric is defined as
The percentage of surveyed customers who indicate that they would recommend a brand to
friends. When a customer is satisfied with a product, he or she might recommend it to friends,
relatives and colleagues. This can be a powerful marketing advantage.) Individuals who rate their
satisfaction level as '1,' by contrast, are unlikely to return. Further, they can hurt the firm by
making negative comments about it to prospective customers.

Concept identification:
As organizations become increasingly customer focused and driven by demand, the need to gain
customer loyalty and retain their loyalty is critical. Customer satisfaction is the most effective
way to achieve customer loyalty. Customer satisfaction and loyalty share many similar traits.
Customer value is customer’s perception of the ratio of benefits to what he or she gives to obtain
those benefits. The framework consists of three parts:
1. Perceived Product Quality
2. Value-Based Pricing and
3. Perceived Service Quality.

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Customers are satisfied, value meets or exceeds expectations. If their expectations of values are
not met, there is no chance of satisfying them. Figuring out what the customers want, however, is
a difficult and complex process. To be able to create and deliver customers value is important to
understand its components. On the most basic level, value from a customer’s perspective is the
ratio of benefit to the risk being taken while buying the product.
Customer Satisfaction
An Insight
According to Harold E Edmondson “Customer satisfaction” seems to appear in print more
frequently than any other catch phrase used to describe a new found magic for industry success.
Before we proceed in to the study of the dynamics of customer satisfaction it is important to
know about, who a customer is and what satisfaction really means.
The Definition of Customer Satisfaction:
As the key driver of customer loyalty, many researchers increased emphasis on customer
satisfaction. High level of customer satisfaction may lead to more loyal customers which means
can bring more profit for enterprise. There are many kinds of definition of customer satisfaction,
but no precise definition already been development. According to the researchers, the working of
customer mind is like a black box. That is an observer can only see what goes in and what comes
out but not what happened inside. Satisfaction may result from a very simple or a complex
process involving extensive cognitive, affective and other undiscovered psychological and
physiological dynamics.

Comparing the definitions of satisfaction, it can be found that satisfaction is stated to be a

relative concept always judged in relation to a standard. That means if we define customer
satisfaction on different angles, we can get different definition. Usually, many researchers
conceptualize customer satisfaction as a personal feeling that customers compare perceived
quality performance with expectations. This kind of conception is represented by Oliver’s (1980)
expectancy disconfirmation framework. He states that customers compare the perceived quality
of products and service with their prior expectations. The difference between expectations and
perceived quality is called disconfirmation. If it is positive disconfirmation (the expectations
are met or

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exceeded), the consumer is satisfied; if it is negative disconfirmation (perceived quality falls
short of expectations), and then the customer is dissatisfied.

Who really is a Customer?

The question of defining who your customers are seems fairly easy particularly if you have
segmented your market properly and understand who you are trying to satisfy. However subtlety
that frequently goes undetected by many firms is that is that customer set can be divided in to
two parts, the apparent customer and user. The apparent customer is the person or group of
people who decide what product to buy and basically have control over the purse strings. The
user is a person or group who physically uses the product or is the direct recipient of a service.
What does satisfaction really mean?
As in defining customers above, defining satisfaction also appears simple. However as with the
customer there is a subtlety that needs addressing. Satisfaction by most of definition simply
means meeting the customer’s requirement.
Customer’s satisfaction is a concept that more and more companies are putting at the heart of
their strategy, but for this to be successful they’re needs to be clarity about, what customer
satisfaction means and what need to happen to drive improvement. Without this, there is a risk
that customer satisfaction becomes little more than a good intention, with confused objectives
failing to address the real issues for customers, one helpful way to look at the problem is to
rephrase the objectives: set the sights on helping the customers meet their goals.
Customer satisfaction can be defined in many different ways. Finding the right way for a
company depends on understanding your customer and having a clear vision of the role that
customer satisfaction is to play in the strategy. For example, a focus on customer satisfaction can
work alongside existing segmentations to support revenue generation from high value customers
or it can be a company-wide objective rooted in the brand values. For the former, it may be
sufficient to focus on improving customer service, but for the latter a broader definition of
customer satisfaction is necessary, closer akin to corporate reputation.
Whatever the strategy for customer satisfaction, it must at least include getting the basics right.
Failing to achieve this can destroy the reputation as well as losing valuable customers. Every
customer, regardless of their economic worth to the business, has the power to influence -
positively or negatively- a company’s reputation. Once the objectives for the customer
satisfaction strategy

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are defined there are a number of steps we can take to make sure the focus on customer
satisfaction is effective.
Who is a Customer?

We all think of customers as the people who sit at our tables and pay for the goods and services
purchased. But they are individuals in their own right. They may be business people, tourists,
youngsters, retired couples or celebrities. They can’t be looked upon as an amorphous group-
their needs are different and your service should reflect that.

 A customer is the most important person in the business.

 A customer is a person who comes to us with needs and wants and it is our job to handle
them in a manner that is profitable to him/her and ourselves.
 A customer is not a cold statistic; he/she is a human being with feelings and deserves to
be treated with respect.
 A customer is not an interruption to our work-he is the purpose of it. We are not doing
him a favor by serving him; he is doing us a favor by giving us opportunity to do so.
 A customer deserves the most courteous attention we can give.

Customer satisfaction is the state of mind that customers have about a company when their
expectations have been met or exceeded over the lifetime of the product or service. The
achievement of customer satisfaction leads to company loyalty and product repurchase. There
are some important implications of this definition:

 Because customer satisfaction is a subjective, non-quantitative state, measurement won't

be exact and will require sampling and statistical analysis.
 Customer satisfaction measurement must be undertaken with an understanding of the gap
between customer expectations and attribute performance perceptions.
 There should be some connection between customer satisfaction measurement and
bottom- line results.

"Satisfaction" itself can refer to a number of different facts of the relationship with a customer.
For example, it can refer to any or all of the following:

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Satisfaction with the quality of a particular product or service

 Satisfaction with an ongoing business relationship

 Satisfaction with the price-performance ratio of a product or service
 Satisfaction because a product/service met or exceeded the customer's expectations

Building a company around Customer Satisfaction:

With the increasing in customer’s demands and competition it has become a lot more important
to base the entire company on customer service. When doing this one must first realize that every
member of an organization plays an active role in customer service. This includes both external
customers and internal customers with in a company profit. Achieving customer satisfaction
generates the profit. In these organizations top managements has a frequent contact with external
customers. The top management uses consultative, participative, and supportive management’s
job is to provide the staff with support necessary to achieve these goals. The other department
and staff in the organization that do not have direct contact with the external customers deal
exclusively with internal customer satisfaction.
The influence of salesperson in Customer Satisfaction:
In an article titled, “The influence of salesperson selling behavior on customer satisfaction with
products,” Brent G.Goff and James S. Boles examine the effects of non-product related construct
on customer satisfaction with major retail purchases such as automobiles. The article states that
salesperson’s selling orientation-customers orientation will affect not only customer satisfaction
with the sales person and dealer, but also indirectly satisfaction with the product or manufacturer.
In the perspectives of both the retailer and the manufacturer, customer satisfaction represents an
important issue because it relates to several desirable outcomes. Customer satisfaction leads to
future purchases, and repeated purchase of the same product from the same source. In other
words, it helps a firm retain its present customers and build loyalty. By helping a buyer obtain
product information and providing guidelines about what should be expected during the buying
process and use of a product, a salesperson may influence customer expectations concerning the
product. Thereby this may reduce the likelihood of dissatisfaction (Grewal and Sharma, 1991). A
successful salesperson tailors to the needs of each individual customer. By being customer-
oriented, a

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salesperson is likely to identify with needs of the customers, enabling the salesperson to match
his or her presentation to those requirements of customer.
Internal marketing-how it affects customer satisfaction:
Successful companies make every effort to ensure satisfaction to their customer by focusing all
organizational efforts of the company on providing superior customer service. By doing this
these companies hope to retain their existing customers and attract new ones. Only angle of
customer satisfaction commonly overlooked is the internal aspect.
The internal customer or employee plays a vital role in achieving customer satisfaction and
loyalty. Some firm’s do not understand that the treatment of internal customers become the
external customers’ perception of the company. A firm’s employee or other department within
the organization makes up its internal customers. Their job performance affects the firm’s ability
to deliver superior product and customer service (Boone and Kurtz, 1999). When a firm’s
employees are happy at work, their overall attitude and performance towards the customer
enhances tremendously. Internal marketing helps members or employees of an organization
understand and fulfill their role in implementing its marketing strategy. Internal marketing not
only keeps employee happy, it also shows them how their actions affect the firm’s ability to
achieve customer satisfaction.
Customer satisfaction as part of service profit chain:
A Harvard business review article outlines the internal process required to drive growth and
increase profitability. The article describes the way in which service quality contributes to
success, outlining the steps in the “service-profit chain”:

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 Profitability/Growth

Customer Loyalty

Customer satisfaction

Value

Employee productivity

Internal quality

Leadership

How to Measure Customer Satisfaction:

1. Overall Satisfaction Measure (Emotional):

This question reflects the overall opinion of a consumer’s satisfaction experience with a product
he or she has used. The single greatest predictors of customer satisfaction are the customer
experiences that result in attributions of quality.

Perceived quality is often measured in one of three contexts:

 Overall quality

 Perceived reliability

 Extent of customer’s needs fulfilled

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 It is commonly believed that dissatisfaction is synonymous with purchase regret while
satisfaction is linked to positive ideas such as “it was a good choice” or “I am glad that I
bought it.”
2. Loyalty Measurement (Affective, Behavioral):
Customer loyalty reflects the likelihood of repurchasing products or services. Customer
satisfaction is a major predictor of repurchase but is strongly influenced by explicit
performance evaluations of product performance, quality, and value.
Loyalty is often measured as a combination of measures including overall satisfaction,
likelihood of repurchase, and likelihood of recommending the brand to a friend.
A common measure of loyalty might be the sum of scores for the following three questions:

 Overall, how satisfied are you with [brand]?

 How likely are you to continue to choose/repurchase [brand]?

 How likely are you to recommend [brand] to a friend or family member?

3. A Series of Attribute Satisfaction Measurements (Affective and Cognitive):

Affect (liking/disliking) is best measured in the context of product attributes or benefits.
Customer satisfaction is influenced by perceived quality of product and service attributes,
and is moderated by expectations of the product or service. The researcher must define
and develop measures for each attribute that is important for customer satisfaction.
Consumer attitudes toward a product develop as a result of product information or any
experience with the product, whether perceived or real.
Again, it may be meaningful to measure attitudes towards a product or service that a
consumer has never used, but it is not meaningful to measure satisfaction when a product
or service has not been used.
Cognition refers to judgment: the product was useful (or not useful); fit the situation (or
did not fit); exceeded the requirements of the problem/situation (or did not exceed); or
was an important part of the product experience (or was unimportant).
Judgments are often specific to the intended use application and use occasion for which
the product is purchased, regardless if that use is correct or incorrect.

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 Affect and satisfaction are closely related concepts. The distinction is that satisfaction is
“post experience” and represents the emotional affect produced by the product’s quality
or value.
4. Intentions to Repurchase Measurements (Behavioral Measures):
When wording questions about future or hypothetical behavior, consumers often indicate
that “purchasing this product would be a good choice” or “I would be glad to purchase
this product.” Behavioral measures also reflect the consumer’s past experience with
customer service representatives.
Satisfaction can influence other post-purchase/post-experience actions like
communicating to others through word of mouth and social networks.
Additional post-experience actions might reflect heightened levels of product
involvement that in turn result in increased search for the product or information, reduced
trial of alternative products, and even changes in preferences for shopping locations and
choice behavior.

Effectiveness of promotional activities:

1. Advertising and Sales Promotion:

It is obvious that the concept of marketing is being applied in every field of the society
along with the business. Marketing is getting increasing importance with the necessity of
it in every field. So, we can say that this is the age of the marketing. Today’s market is
sensing the hyper competition since the business is being operated in globalize economy.
Many of the companies are becoming failure as they couldn’t implement the appropriate
sales promotion and advertising tools to their business. This research will trace out the
weakness of promotion and advertisement in order to achieve its goals and objectives.
Customer complaints procedure, failure to implement consistent image, not considering
the marketing Return on Investment, are the frequent mistakes in business procedure.
Marketing is typically seen as the task of creating, promoting and delivering goods and
services to consumers and businesses. Marketers are skilled in stimulating demand for a
company’s products. Marketers are responsible for the demand management. Marketing

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managers seek to influence the level, timing and composition of demand to meet the
organization’s objectives. Marketing deals with identifying and meeting human and
social needs, marketing efforts help to achieve organizational goals. It helps organization
to find out what their customers need and want and to decide what product or service to
offer so that the customer’s need and want can be best satisfied. It is concerned with
attaining and retaining customers and winning long term customer loyalty.
“Marketing is a social and managerial process by which individuals and groups obtain
what they need and want through creating, offering and exchanging products of value
with others.” Marketing consists of promotion and promotion consists of advertising.
These three marketing terms are interrelated. These three terms are devoted and oriented
towards the business promotion, growth and success.
2. Promotion:
Promotion is a part of marketing. Today the scope of marketing is growing so rapidly
due to the expansion of the market. As market demand increases along with the
changing test, new and new products are being introduced in the market. Due to the
rough competition and sophisticated market the companies are bound to face new and
ever- changing marketing realities.
3. Advertising:
It is a part of promotion as mentioned before. The word advertising is being
pronounced everywhere. The word “Advertising” itself is being advertised. Here are
some of the definitions of advertising given below.
"Advertising is any paid form of non-personal presentation and promotion of ideas,
goods and services through mass media such as newspapers, magazines, television or
radio by an identified sponsor".
“Advertising is the means by which we make known what we have to sell or what we
have to buy.”
Above definitions of advertising emphasize on the selling objective of the company. It
says that the advertising planning and implementation are done to secure more sales
with less cost contribution. But unlike the salesman who sells in a face-to-face or even

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 voice-to-voice situation, advertising is just a broadcast fashion to numbers of prospects
whose identity may or may not be known. And who may be close at hand on distance.
Effectiveness of Advertising:
The effectiveness of advertising can be understood by the changing attitudes and
behaviour of the customers. Advertising has become the powerful device for
increasing sales and at the same time, large sum of money are spent on it. In the face to
mounting advertising costs, on the one hand, and a squeeze on profitability, on the
other, top managements are increasingly concerned about the cost benefit of
advertising in the operation of a business. The value of advertising cannot be
determined unless its role and function are understood. The unaccountability of
advertising, in most cases arises from a lack of appreciation of what advertising can or
cannot do.
Advertising should be viewed as a part of total marketing effort of a company. The
glib answer to the question: why do companies advertise? Is: To sell products. But in
recent times, increasing number of advertising personnel has been frankly
saying that advertising cannot actually sell products. However the objective that
involves an increase in immediate sales is not operational in nature in many cases for
two reasons. Advertising is only one of the many factors influencing sales and it is
difficult to isolate its contribution to those sales. The other forces include price,
distribution, packaging, product features, competitive actions, and changing buyer
needs and tastes. It is absolutely difficult to isolate the effect of advertising.
Evaluation advertising only by its impact on sales is not practical.
4. Promotion Mix:
Advertising, sales promotion, personal selling and public relations the mutually
reinforcing elements of the promotional mix, have as their common objective the
successful sale of a product. Once a product is developed to meet target market needs
and is properly distributed, intended customers must be informed of the product’s
value and availability. Advertising and promotion are basic ingredients in the
marketing mix. All the elements in promotion mix are contributing to each other’s
performance towards successful marketing and selling

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 Chapter – 2
Research Design

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Introduction:

Indian online eyewear brand named Lenskart was introduced by Peyush Bansal and later two
more co-founders joined with him named Sumeet Kapahi and Amit Chaudhary. The
company’s main products start from contact lenses, glasses to sunglasses. The Lenskart owner
was intelligent enough to realize that it would be a mistake to offer an exclusive online channel
for selling contact lenses because it would be hard for the Indian consumer to accept the sudden
change. It was necessary to gain consumers’ confidence about the viability of the new business
model through gradual exposure that should help build trust in the brand and the
products. As a result, Lenskart has come up with a unique kind of business model in which the
brand is different from other brands, it creates a connection between the gap of different
touchpoints. Mainly it provides a medium where a customer has an option to order from an
online portal as well as from the store it allows an omnichannel experience to the customers.
Providing more buying options to consumers was a masterstroke from the Lenskart founder as it
helped to establish Lenskart as a trustworthy brand and, at the same time, allow consumers to
trust the online buying process of eyewear products. The approach was similar to selling a new
concept first and then bringing consumers on board to enjoy the convenience of buying eyewear
products online.
Lenskart works as both an offline and online distribution channel and is one of the leading e-
commerce brands. Lenskart productions can be ordered by the customers through Lenskart’s
creatively designed physical offline stores. The brand is brought up a revolution for the e-
commerce eyewear industry by providing the facility of eye checkups at home. In the year 2019
Lenskart becomes the unicorn company.
Lenskart has a widespread and fastest-growing business chain all over India, associated with
above 120 cities, above 500 profitable stores and also more than 50 lakh happy and satisfied
customers. It is registered under a parent company named Valyoo Technologies. Lenskart app
comprises the widest college of eyewear and its app is in the number one position for online
eyewear shopping. The collection includes computer glasses, reading glasses, contact lenses,
anti-glare, goggles, specs, and also gives the facility to try out the eyewear at home followed by
eye accessories and prescription glasses.

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Objectives of the Study are to:

1. Examine customer satisfaction on the services provided by the Lenskart.

2. Analyze the opinion of the customers regarding its features, like durability, quality, price
etc.
3. To identify the factors that influences the respondents to purchase the product through
Lenskart.
4. Obtain insights into the level of satisfaction of customers towards the product.

Scope of the Study:

1. The study is restricted to Bangalore City, this study covers all the products of Lenskart.
Due to time constraints the study is restricted to a sample size of 50 respondents. This
study may be useful for the company or dealer to cope with the expectation and need of
the customer.
2. This study will have customer response towards Lenskart service or product in the form
of customer image, opinion and expectation.
3. This study reveals about opportunity that on existing for the company to provide better
service.
4. This study provides information about awareness of Lenskart product or service based on
which company can alter its strategy.
5. This study helps the company to change service strategy and provide innovative service
in accordance with customer needs.

Research Methodology:

Research methodology is a systematic way to solve the research problem. In this, we study
various steps that are generally adopted by a researcher in studying his research problem along
with the logic behind them. The motive of an investigator is to uncover the fact or truth. Methods
compromise the procedures used for generating, collecting and evaluating data. Methodology
thus prepares the investigator to inquire truth also involves confrontation with obstacles. Face to
face interaction with the respondents through questionnaire.

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Area of the Study:

The study conducted at Lenskart, Bangalore

Problem Statement:

The study is mainly aimed to know the level of satisfaction with respect to the services rendered
by Lenskart at their service by making a brief analysis of the current services and making
constructive improvement on them.

Duration of the Study:

The study is carried for 14 weeks.

Sample Size:

Total of 50 respondents were selected for the study. These people were personally interviewed
and questionnaire was given to them.

Sampling Method:

Random customers were selected for the interview.

Sampling Unit:

Sampling study was done on the customers of Lenskart, Bangalore.

Tools for Analysis:

Structured questionnaire and percentage of the respondents.

Limitation of the Study:

1. It begins my first attempt to undertake such a study, thus the inexperience is also an
obstacle to accomplish the project in a proper way.

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2. The duration of the study is limited to a period of 14 weeks, so that an extensive and deep
study is not possible.
3. Only 50 units of mass population were studied, it may affect the reliability of the study.
4. Some customer may fill the questionnaire just for the sake of filling it up, thus giving
incorrect information.
5. It is also seen that certain questionnaires were filled by customers in a hurry.

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Chapter – 3
Company
Profile

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Company Profile (Lenskart.Com)

Today, a third of India's

population needs spectacles.
The term "need" applies to the
people who have been
diagnosed with vision issues,
but only about a quarter of them
actually wear spectacles. When
we sum up the number of people
who choose to wear glasses as a
fashion accessory, the figures
are staggering. Customers in this
group are interested in having
several pairs of eyeglasses to go
with a range of outfits. Every
day in India, over 1.5 million
(15 lacs) spectacles are sold.
The industry is highly divided,
with
mom-and-pop shops dominating. This eyewear industry has taken a new turn since 2010 when
Lenskart was born.

Lenskart is a Faridabad-based optical prescription eyewear retail chain, which operates as an e-

commerce marketplace for prescription power glasses, BLU glasses, frames, and goggles.
Furthermore, Lenskart also focuses on brick-and-mortar stores. It has already managed to
establish over 80 physical retail stores across India, as of December 2021. It's Delhi
manufacturing facility produces 300,000+ glasses every month. Lenskart also has a factory in
Zhengzhou, China, that handles nearly 20% of its production of frames. Hailed as the largest
eyewear brand in India, the company is also known as a unicorn prescription eyewear company,
which entered the coveted club of Indian unicorns back in December 2019.

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 Legal Name Lenskart Solutions Private Limited
Headquarters Faridabad, Delhi NCR, India
Industry Prescription Eyewear, E-commerce
Founded 2010
Founders Peyush Bansal, Sumeet Kapahi, Amit
Chaudhary
CEO Peyush Bansal
Parent organization Valyoo Technologies
Funding $939.7 mn (August 2022)
Revenue $120.64 mn (Rs 905.3 crore in FY21)
Valuation $4.32 bn (April 2022)so did you type
Area Served Worldwide
Website lenskart.com
Peyush Bansal is the CEO and
founder of Valyoo Technologies,
which is the parent company of
Lenskart. He is a Delhi boy; it is in
Delhi where he studied at Don
Bosco. He aimed to crack the IIT
entrance but unfortunately or
fortunately he failed to do so.
However, he then chooses to
pursue Electrical Engineering at
McGill University. In 2006, he
graduated
from McGill University in Canada with a Bachelor’s degree in Electrical Engineering — IT,
Control, and Automation. Soon after, the founder of Lenskart landed a job with the US software
giant Microsoft. Peyush worked as a Program Manager for Microsoft for a year. When he was
working with Microsoft in Seattle, he once met Bill Gates because Gates used to call the interns
of his company at his house on the beach. It was this meeting that made Bansal realize that Gates

26
has done something huge, creating Microsoft and that he doesn’t want to be a part of his
company where over 50K employees work and want to be an individual distinguished for the
work he does. Besides, he also found out that he was bettering the lives of people who were
already well off. This is why he returned to India to solve the bigger problem of vision correction
and lending vision to all via Lenskart. He eventually went to pursue his PG in Management at
IIM, Bangalore.

Bansal then began to found an array of Indian companies, including John Jacobs, AQUALENS
and Lenskart, under which he founded Lenskart Vision Fund, and Lenskart Plus, all of which
focus on the niche of spectacles and lenses.

During his time at IIM, he founded Valyoo Technologies, which introduced Search My Campus
as the first business portal in 2007. It was a student classifieds platform that included books, part-
time work, carpooling, and internship opportunities in addition to housing. His motto was to help
students with any problem they may have.

Peyush decided to take Search My Campus into the e-commerce world because it was a huge
success. While looking for opportunities, he came across the eyewear market, which was largely
ignored by the major e-commerce players, such as Amazon and eBay. He created Flyrr.com, a
website dedicated to the American eyewear industry.

Flyer was gaining a lot of momentum, so he decided to try his luck in India and launched
Lenskart in November 2010. This new brand began by only selling contact lenses, but after a few
months, it started adding eyeglasses. Finally, in March 2011, the company managed to expand its
portfolio to include sunglasses, putting them in the fashion accessory category.

Lenskart Co-founder and CEO Peyush Bansal, is currently serving as one of the judges (Sharks)
in the latest business reality show Shark Tank India. Popularly dubbed as the “kindest shark” in
the show, Bansal is regarded for his cooperative attitude, encouraging nature, belief in brands,
and umpteen motivations that he extends to the applicants. For instance, in one Shark Tank
episode, Peyush Bansal offered a non-negotiable offer of Rs 25 lakhs for 75% equity and Rs 22
lakhs in debt to Sidharth from Jammu, who was mocked at and insulted by most other judges.
Peyush also encouraged him by pointing out the similarities between him and Sidharth. In an
episode of Shark Tank, Peyush Bansal himself took the stage and asked for Rs 1 crore

27
investment in his business

28
for 1% equity from the judges. He repeated the pitch that he pitched in 2010 when he was only
26 years of age, which changed the future of Lenskart. He recreated the same magic with his
Lenskart pitch.

His pitch generated mixed reactions included trolls, counter questions, and appreciation.
However, his pitch undoubtedly thrilled, inspired, and motivated the Lenskart users, business
professionals, present-day entrepreneurs, and entrepreneurs to be and helped them discover one
too many facts about the brand and the co-founder.

Neha Bansal

Neha Bansal is another co-founder of

Lenskart who has previous experience
of serving as a Partner at Vinod
Kumar and Associates before she
started her role as a Cofounder at
Lenskart. Bansal then became the
Founder and Director of DNS
Advisors.

Sumeet Kapahi

Sumeet Kapahi studied at the

University of Delhi and is now known
as the co-founder of Lenskart, and the VP Supply at Valyoo Technologies Pvt. Ltd.

Amit Chaudhary

Amit Chaudhary is another co-founder of Lenskart. Chaudhary is an alumnus of the Birla

Institute of Technology, Mesra, from where he completed his BE, in Information Technology.

Lenskart is a leading e-commerce company that maintains an online optical store packed with
both classic and trendy eyeglasses, lenses and more at affordable prices. These glasses can be
easily ordered online by the customers, who will get them delivered with many discounts that
come and go.

29
Unlike many other players, Lenskart operates on both an online and offline distribution platform.
Customers can shop online at lenskart.com or in person at their distinctively built offline store.
With the first-of-its-kind ‘Home eye checkup,’ Lenskart is revolutionizing the eyewear industry.
They use specialized robots to deliver glasses in Lenskart that are accurate to 3 decimal places.

Lenskart offers 5000+ different models of eyewear and offers free home delivery with a 14-day
replacement guarantee. The company manufactures everything in the eyewear category, from
sunglasses to reading glasses to contact lenses.

In this sector, there are three success factors: product, quality and portfolio, delivery time, and
after-sales support. The value proposition of the brand is straightforward, which is to “deliver a
high-quality product at a reasonable price.”

Lenskart Membership:

The company currently has a Gold Membership that the users can avail of at Rs 600 annually,
with which they would just have to buy 1 product to get another one free.

Lenskart Target Market Size:

The market for eyewear in India has recorded revenues at around $4,427 mn in 2021. With a
market volume of $1,985 mn, spectacle lenses have been occupying the largest segment in the
market.

To tap into one such market is profitable indeed when the idea of the operation is new and
backed by able investors like Softbank, Alpha Wave and Ratan Tata.

Lenskart was established with the aim of providing ‘Vision to India.’ In line with this, they
recently developed Lenskart Lite, a low-cost franchise model aimed at upcountry markets,
especially tier 3 and 4 markets. The model, which is aimed at micro-entrepreneurs, needs a Rs 20
lakh investment. The format brings in about Rs 4-6 lakh per month in revenue. They already
have a standard Lenskart franchise model for the tier-2 markets, with an investment criterion of
Rs 35 lakh and estimated monthly revenues of Rs 8-10 lakh.

30
Lenskart Ownership:

Lenskart has a list of owners. The majority of the company’s stakes are with Softbank, which
controls 20.12% of the stakes. Next comes Premji Invests, which has 11.15% of the stakes.
9.55% of the shares are with Kedaara Capital, while TR Capital owns around 8.28% of the
stakes. Lenskart co-founders Peyush and Neha Bansal control 8.21% and 8.18% of the shares.
Lenskart last listed over 5000 employees working with the company in August 2021.

The other owners of the company are:

6.59% UNILAZER

5.36% International Finance Corporation

5.32% Steadview Capital

17.24% Others

Vision:

a. 15 million people in India are blind, which is 50% of the blind people of the world.

31
 b. 75% of these are cases of avoidable blindness. Thanks to the country's acute shortage of
optometrists and donated eyes for the treatment of corneal blindness.

c. 153 million people in the country need reading glasses but do not have access to them.

d. Our country needs 40,000 optometrists. Unfortunately, we only have 8,000.

Mission:
Wow customers by doing something that has never been done before in the eyewear industry. It
began with an aim. An aim to provide every Indian access to high-quality designer glasses
without shelling out their pocket. We rocked our brains. We broke our backs to come up with a
plan that will not just change the way this industry works, but also will completely sweep
customer off their feet. It can only be achieved if we provide.

SWOT Analysis:
a. Strengths:
 Providing a platform where people can order from a huge variety of sunglasses and
contact lens.
 LensKart offers over 5000 frames and glasses and more than 45 kinds of high quality
lens.
 Gets best product quality at an affordable budget.
b. Weakness:
 Unsatisfactory with services.
 Packing is not up to the mark.
 It survives in competitive market.
c. Opportunities:
 There is a huge growing demand for specs.
 There is scope in global markets.
d. Threats:
 Global economy.
 Competition regarding specs in the market is high.

32
Lenskart – Competitors

 Lenskart is up against both offline and online competitors that include:

 GKB Opticals
 Coolwinks
 Specsmakers
 Deals4Opticals
 Lensbazaar
 Vision Express
 Titan Eyeplus

Lenskart - Revenue and Growth

The Lenskart operating revenues witnessed less than 1% growth, which was Rs 900.2 crore in
FY20 and became Rs 905.3 crore during FY21.

Lenskart Revenue Breakdown

The sale of Lenskart products via physical stores and online apps/websites is the largest revenue
driver for the brand, which was responsible for contributing 94.5% of the revenue. This revenue
stream remained relatively flat from Rs 851.2 crore in FY20 to stand at Rs 855.7 crore during
FY21. Another 4.6% of the operating revenue of the company was contributed by the recurring
revenue generated from its subscription fees, which grew by around 11% from Rs 37.2 crore in
FY20 to Rs 41.24 crore during FY21. Lenskart added another Rs 8.4 crore by providing ancillary
services that included eye checkups and more in FY21. The Lenskart operating revenues stood at
Rs 905.3 crore in FY21, which grew by less than 1% from Rs 900.2 crore in FY20.

It's worth noting that, in FY2019, Lenskart Solutions only had two stores in Singapore, but it
now expects to lead the market and gain around $30 million (INR 217 crore) in revenue.

Lenskart's expenses, however, grew by around 3.7% from Rs 963.14 crore in FY20 to Rs 998.80
crore in FY21, where the raw materials and spares used for the production of the eyewear
products, are the largest cost centre for the same in FY21.

33
If we go by the unit level, Lenskart earned a single rupee of revenue by spending Rs 1.1 during
FY21. In terms of profit and loss, Lenskart registered a rise of 4.6X in profits, which now stands
at Rs 28.92 crore in FY21 and was reported to be around Rs 6.32 crore during the previous
fiscal.

Lenskart Financials Y-O-Y Growth during FY17-FY21

Some important growth highlights of Lenskart can be summed up as:

a. Lenskart is currently recognized as one of the top 3 optical businesses in India

b. Lenskart serves 10 million customers
c. The company reaches out to over 1,00,000 customers a month
d. Lenskart is spread over 235 cities in India
e. It has seen a growth of over 200% in the last 2 years
f. Lenskart boasts of having over 5000 styles of eyewear, which is 5X more than
that of any retailer in India
g. Lenskart subsidiary Neso Brands

Neso Brands, a subsidiary of Lenskart, is a Singapore-based global eyewear brand founded in

2022 to empower the DTC brands and help them turn into brands of the future. Lenskart's D2C
venture was registered as Neso Brands which was waiting for some funds.

34
Neso Brands raised $100 mn in funding in one of the largest seed rounds raised by any startup,
as announced on May 16, 2022. With huge investors like Alpha Wave, Temasek, Softbank, and
more, Neso Brands aims to partner and invest in consumer eyewear brands and help them grow
by leveraging synergies across the Lenskart Group. Along with the announcement of the
fundraising, Neso Brands also declared the appointment of Bjorn Bergstrom as the company's
new CEO. Bergstrom was previously the Chief Growth Officer and the Interim Chief Product and
Technology Officer at NA-KD, a Sweden-based fashion brand.

Lenskart – Business Model

Lenskart operates on an inventory-driven business model with a B2C concept, sourcing equally
from India and China. Its in-house stylists and designers keep up with the latest eyewear trends.
The manufacturers are then given these designs. By controlling the entire supply chain, the
company is able to keep costs down.

Lenskart has also ventured into offline stores via the franchisee model to meet the masses. It has
more than 50 stores in 30 cities to reach 50 by the end of the year. Lenskart spread out its scope
across metro and non-metro areas to achieve a good balance.

Lenskart currently serves 4000 people a day and plans to increase that number to 200,000 in the
coming years. It has a team of nearly 1000 people to assist with this endeavour, which works
across verticals such as manufacturing, eye technicians, customer care, technology, and logistics,
and will continue to develop as the company grows. Lenskart is currently based on the business
model where the company accepts orders on power glasses after getting the power from their
customers but is now gearing up for testing power for the customers, which will be possible in
the upcoming days. Here’s a deeper look into the Lenskart Business model.

Lenskart – Challenges Faced

The most difficult task Lenskart faced was persuading consumers to use the online store as a
substitute for traditional shopping. The business needed to shift people’s preconceived notions
about eyewear and instil trust in them that they offer high-quality goods at lower prices than their
brick-and-mortar competitors.

35
Lenskart’s offline shops, desktop platforms, and smartphone apps all performed admirably.
However, as opposed to their other sites, the mobile website converted the fewest visitors into
customers. As a result, the client used that touchpoint to guide consumers to download their
mobile apps as a stopgap solution before they could devote the resources needed to fully redesign
the website.

Lenskart – Future Plans

Lenskart India’s vision, “Vision to India,” aims to reach the masses by developing a low-cost
franchise model. Lenskart Lite is a model that will help them introduce the framework in Tier 3
and 4 cities, as well as expand their presence in Tier 2 cities. It also introduced regular contact
lenses that can be quickly discarded. Lenskart’s goal is to provide affordable and simple eyewear
solutions with the aid of their Aqualens product. It would be extremely affordable to the daily
masses who want both trends and costs at just Rs.40 per day.

The main aim of Lenskart India is to close the distance between selected and unselected lenses,
and the company expects to open more than 500 stores in the next two years. It aims to have
2,000 stores open by the end of the next five years.

36
 Chapter – 4
Data Analysis
and
Interpretation

37
01: Features will be important in choosing your new glasses
Table:01
Features will be important in choosing your new No of Respondents Percentage
glasses N= 50 (%)
Frames 08 16
Durability 12 24
Brand 10 20
Lens Thickness 08 16
Fashion/Trends 12 24
Others 00 00
Total 50 100

Chart:01

Features will be important in choosing your new glasses

0%
16%
24%

24%

16%

20%

Frames Durability Brand Lens Thickness Fashion/Trends Others

Interpretation:
In Table 1 and Figure 1, 24% of the respondents agreed that they will check durability and
fashion/ before purchasing new glasses from Lenskart.

38
02: Type of optical glasses purchase do you prefers:
Table:02
Type of optical glasses purchase do you prefers No of Respondents Percentage
N= 50 (%)
Online 09 18
Offline 21 42
Both 20 40
Total 50 100

Chart:02

Type of optical glasses purchase prefered:

Online
18%
Both
40%

Offline
42%

Interpretation:
In Table 2and Figure 2,18% of the respondents prefer online, 42% of the respondents prefer offline
shopping method where as 40% of the respondents refer both of the purchase method.

39
03: Satisfaction with the features of the Lenskart
Table:03
Are you satisfied with the features of the No of Respondents Percentage (%)
Lenskart N= 50
Agree 23 46
Strongly agree 24 48
Neutral 04 08
Disagree 00 00
Strongly disagree 02 04
Total 50 100

Chart:03

Are you satisfied with the features of the Lenskart

4%
8%

46%
Agree
Strongly agree
Neutral
Disagree
48% Strongly disagree

Interpretation:
In Table 3 and Figure 3, 48% of the respondents strongly agree that they are satisfied with
features of Lenskart.

40
04: Frames and lenses fit as per the respondent’s taste
Table: 04
Frames and lenses fit as per the respondent’s No of Respondents Percentage (%)
taste: N= 50
Agree 28 56
Strongly agree 14 28
Neutral 08 16
Disagree 00 00
Strongly disagree 00 00
Total 50 100

Chart: 04

Frames and lenses fit as per the respondents taste:

16%

Agree
Strongly agree

56% Neutral

28% Disagree
Strongly disagree

Interpretation:
In Table 4 and Figure 4, 56 % of the respondents strongly agree that taste fit as pet the lenses and
frames.

41
05: Factors influence you to buy Lenskart
Table: 05
The factors influence you to buy Lenskart No of Respondents Percentage (%)
N= 50
Price 13 26
Quality 26 52
Offers 09 18
Warranty 04 08
Others 00 00
Total 50 100

Chart: 05

The factors influence you to buy Lenskart

8%

26%

18%
Price
Quality
Offers
Warranty
Others

52%

Interpretation:
In Table 5 and Figure 5, 52 % of the respondents strongly agree that price was the factor that
influence them to buy Lenskart.

42
06: Experience with Lenskart about the quality of customer service received.
Table: 06
The experience with Lenskart about the quality No of Respondents Percentage (%)
of customer service received. N= 50
Very poor 01 02
Poor 00 00
Average 17 34
Satisfactory 27 54
Brilliant 05 10
Total 50 100

Chart: 06

The experience with lenskart about the quality of customer

service received.

10% 2%

34% 1
2
3
4
5

54%

Interpretation:
In Table 6 and Figure 6, 54% of the respondents agree that they are satisfied with the quality of
customer service of Lenskart.

43
07: The level of satisfaction about the brand.
Table: 07
the level of satisfaction about the brand. No of Respondents Percentage (%)
N= 50
Highly satisfied 31 62%
Satisfied 16 32%
Neutral 03 06%
Dissatisfied 00 00%
Highly dissatisfied 00 00%
Total 50 100

Chart: 07:

The level of satisfaction about the brand.

6%

Highly satisfied
Satisfied
32%
Neutral
Dissatisfied
Highly dissatisfied
62%

Interpretation:
In Table 7 and Figure 7, 62 % of the respondents agree that they are highly satisfied with the
brand.

44
08: The level of satisfaction about the lens thickness.
Table: 08
the level of satisfaction about the lens thickness. No of Respondents Percentage (%)
N= 50
Highly satisfied 15 30%
Satisfied 30 60%
Neutral 05 10%
Dissatisfied 00 00%
Highly dissatisfied 00 00%
Total 50 100

Chart: 08:

Level of satisfaction about the lens thickness.

10%

30%

Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied

60%

Interpretation:
In Table 8 and Figure 8, 60 % of the respondents agree that they are highly satisfied with the lens
thickness of Lenskart.

45
09: The level of satisfaction about the frame colour.
Table: 09
the level of satisfaction about the frame colour. No of Respondents Percentage (%)
N= 50
Highly satisfied 22 44%
Satisfied 19 38%
Neutral 09 18%
Dissatisfied 00 00%
Highly dissatisfied 00 00%
Total 50 100

Chart: 09:

Level of satisfaction about the frame colour.

18%

Highly satisfied
44% Satisfied
Neutral
Dissatisfied
Highly dissatisfied

38%

Interpretation:
In Table 9 and Figure 9, 44% of the respondents agree that they are highly satisfied with the
frame colour of Lenskart.

46
10: The source of awareness about the Lenskart.
Table:10
The source of awareness about the Lenskart No of Respondents Percentage (%)
N= 50
Friends 19 38%
Relatives 14 28%
Colleagues 12 24%
Social Media 07 14%
Advertising 08 16%
Total 50 100

Chart:10

The source of awareness about the lensakrt.

16%

38%
14% Friends
Relatives
Colleagues
Social Media
Advertising
24%

28%

Interpretation:
In Table 10 and Figure 10, 38% of the respondents agree that they got to know about lenskart
through friends, 28% of them got to be aware by relatives.

47
11: The lenskart’s rate on the basis of value of money.
Table:11
The lenskart’s rate on the basis of value of No of Respondents Percentage (%)
money N= 50
Above expectation 34 68%
Below expectation 02 04%
As per expectation 14 28%
Total 50 100

Chart:11

The lenskart’s rate on the basis of value of money

28%

Above expectation
Below expectation
As per expectation
4%

68%

Interpretation:

In Table 11 and Figure 11, 68% of the respondents agree that experience of Lenskart in order for
value of money is above their expectation.

48
12: The ordering process of your most recent order placed with Lenskart.
Table: 12
The ordering process of your most recent order No of Respondents Percentage (%)
placed with Lenskart. N= 50
Very poor 01 02%
Poor 03 06%
Average 11 22%
Satisfactory 27 54%
Brilliant 08 16%
Total 50 100

Chart:12

The ordering process of your most recent order placed

with lenskart.

16% 2%
6%

22% Very poor

Poor
Average
Satisfactory
Brilliant

54%

Interpretation:
In Table 12 and Figure 12, 54% of the respondents agree that experience of lenskart in ordering
process of the last order was satisfactory

49
13: Satisfactory level of the skill and professionalism of the workforce that
carries out the work.
Table: 13
Satisfactory level of the skill and professionalism No of Respondents Percentage (%)
of the workforce that carries out the work N= 50
Highly satisfied 20 40%
Satisfied 18 36%
Neutral 12 24%
Dissatisfied 00 00%
Highly dissatisfied 00 00%
Total 50 100

Chart: 13

Satisfactory level of the skill and professionalism of the

workforce that carries out the work

24%

40%
Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied

36%

Interpretation:
In Table 13 and Figure 13, 40% of the respondents agree that they are highly Satisfied with the
skill and professionalism of the workforce that carries out the work.

50
14: Worth to buy glasses from Lenskart.
Table:14
Worth to buy glasses from Lenskart No of Respondents Percentage (%)
N= 50
Yes 48 96%
No 02 04%
Total 50 100

Chart:14

Worth to buy glasses from Lenskart

4%

Yes
No

96%

Interpretation:
In Table 14 and Figure 14, 96% of the respondents agree that its really worth to buy glasses from
Lenskart

51
15: The Lenskart services which are really done well.
Table: 15
The Lenskart services which are really done No of Respondents Percentage (%)
well. N= 50
Assistance with eye power/prescription related 07 14%
queries/issues
Knowledge of products and services 13 26%
Assistance with discounts and offers 08 16%
Time taken to resolve query\issue 16 32%
Ability to understand questions /queries 02 04%
Professionalism and courteous of agent. 04 08%
Total 50 100

Chart:15

The Lenskart services which are really done well.

8% Assistance with eye

14% power/prescription related
4% queries/issues
Knowledge of products and
services

Assistance with discounts and

offers
26%
32%
Time taken to resolve query\issue

Ability to understand questions

/queries
16%

Interpretation:
In Table 15 and Figure 15, 32% of the respondents agree that the time taken to resolve query or
issue is done well by Lenskart.

52
16: The convince with the procedure at the time of purchasing Lenskart
products.
Table: 16
The convince with the procedure at the time of No of Respondents Percentage (%)
purchasing Lenskart products N= 50
Agree 17 34%
Strongly agree 13 26%
Neutral 15 30%
Disagree 05 10%
Strongly disagree 00 00%
Total 50 100

Chart: 16

The convince with the procedure at the time of purchasing

lenskart products

10%

34%
Agree
Strongly agree
30% Neutral
Disagree
Strongly disagree

26%

Interpretation:
In Table 16 and Figure 16, 34% of the respondents agree that the convince with the procedure at
the time of purchasing Lenskart products.

53
17: The staff delivers appropriate service to the customers.
Table: 17
The staff delivers appropriate service to the No of Respondents Percentage (%)
customers. N= 50
Excellent 21 52%
Good 28 56%
Neutral 01 02%
Average 00 00%
Below average 00 00%
Total 50 100

Chart: 17

The staff delivers appropriate service to the

customers.
2%

Excellent

52% Good
Neutral
56% Average
Below average

Interpretation:
In Table 17 and Figure 17, 56% of the respondents agree that the quality of the service delivered
by the staff is excellent to the customers.

54
18: The scale to repurchase the product at Lenskart
Table: 18
The scale to repurchase the product at lenskart No of Respondents Percentage (%)
N= 50
Agree 37 74%
Strongly agree 05 10%
Neutral 08 16%
Disagree 00 00%
Strongly disagree 00 00%
Total 50 100

Chart: 18

The scale to repurchase the product at lenskart

16%

1
10% 2
3
4
5

74%

Interpretation:
In Table 18 and Figure 18, 74% of the respondents agree that they would like to repurchase the
product from Lenskart.

55
19: Recommendation of the product to others.
Table: 19
Recommendation of the product to others. No of Respondents Percentage (%)
N= 50
Yes 47 94%
No 03 06%
Total 50 100

Chart 19:

Recommendation of the product to others.

6%

Yes
No

94%

Interpretation:
In Table 19 and Figure 19, 94% of the respondents agree that they would like to recommend
lenskart product to others.

56
20: The satisfactory level with the overall quality of work carried out.
Table: 20
The satisfactory level with the overall quality of No of Respondents Percentage (%)
work carried out N= 50
Very poor 00 02
Poor 05 00
Average 17 34
Satisfactory 18 54
Brilliant 10 10
Total 50 100

Chart: 20

The satisfactory level with the overall quality of work carried

out

10 2

34 Very poor
Poor
Average
Satisfactory
Brilliant

54

Interpretation:
In Table 20 and Figure 20, 54% of the respondents agree that they would like to recommend
lenskart product to others.

57
 Chapter – 5
Findings,
Suggestions and
Conclusion

58
Findings:
1. 24% of the respondents agreed that they will check durability and fashion/ before purchasing
new glasses from Lenskart.
2. 42% of the respondents prefer offline shopping method.
3. 48% of the respondents strongly agree that they are satisfied with features of Lenskart.
4. 56 % of the respondents strongly agree that lenses and frames will fit as per their taste.
5. 52 % of the respondents strongly agree that price was the factor that influence them to buy
Lenskart.
6. 54% of the respondents agree that they are satisfied with the quality of customer service of
Lenskart.
7. 62 % of the respondents agree that they are highly satisfied with the brand.
8. 60 % of the respondents agree that they are highly satisfied with the lens thickness of Lenskart.
9. 44% of the respondents agree that they are highly satisfied with the frame colour of Lenskart.
10. 38% of the respondents agree that they got to know about Lenskart through friends.
11. 68% of the respondents agree that experience of Lenskart in order for value of money is
above their expectation.
12. 54% of the respondents agree that experience of Lenskart in ordering process of the last order
was satisfactory
13. 40% of the respondents agree that they are highly Satisfied with the skill and professionalism
of the workforce that carries out the work.
14. 96% of the respondents agree that its really worth to buy glasses from Lenskart
15. 32% of the respondents agree that the time taken to resolve query or issue is done well by
Lenskart.
16. 34% of the respondents agree that the convince with the procedure at the time of purchasing
Lenskart products.
17. 56% of the respondents agree that the quality of the service delivered by the staff is excellent
to the customers.
18. 74% of the respondents agree that they would like to repurchase the product from Lenskart.
19. 94% of the respondents agree that they would like to recommend Lenskart product to others.
20. 54% of the respondents agree that they would like to recommend Lenskart product to others.

59
Suggestions:

1. Company should improve the features of Lenskart.

2. Company should improve the quality of service to the customers
3. Considerable number of respondents facing some problems while shopping in offline.
This problem should be carefully observed, analyzed and settled.
4. Company should take maximum effort to offer the products with competitive price
because the price of the product plays a big role in purchase decision.
5. The offline shopping must be made known to consumers through different methods of
advertisements.

Conclusion:

Lenskart in the coming years would serve more customers and aspire to become a global
company keeping the main focus of manufacturing in India so that in India Lenskart can generate
a lot of employment opportunities. Though Lenskart has already provided a lot of employment
opportunities for the country people both in terms of retails and manufacturing. Lenskart is
planning to start eye technology in the next few years and is willing to invest more than $2
million. One of its technology projects includes providing the classes to the customers instantly
on spot rather than wasting time waiting for the eye checkup and delivery. With 550 stores
across the country, Lenskart is the number one brand in the Indian eyewear industry.

Providing more buying options to consumers was a masterstroke from the Lenskart founder as it
helped to establish Lenskart as a trustworthy brand and, at the same time, allow consumers to
trust the online buying process of eyewear products. The approach was similar to selling a new
concept first and then bringing consumers on board to enjoy the convenience of buying eyewear
products online.
Lenskart works as both an offline and online distribution channel and is one of the leading e-
commerce brands. Lenskart productions can be ordered by the customers through Lenskart’s
creatively designed physical offline stores. The brand is brought up a revolution for the e-
commerce eyewear industry by providing the facility of eye checkups at home. In the year 2019
Lenskart becomes the unicorn company.

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Lenskart has a widespread and fastest-growing business chain all over India, associated with
above 120 cities, above 500 profitable stores and also more than 50 lakh happy and satisfied
customers. It is registered under a parent company named Valyoo Technologies. Lenskart app
comprises the widest college of eyewear and its app is in the number one position for online
eyewear shopping. The collection includes computer glasses, reading glasses, contact lenses,
anti-glare, goggles, specs, and also gives the facility to try out the eyewear at home followed by
eye accessories and prescription glasses.

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 Annexure
Questionnaire
1. Name:
2. Gender:
3. Occupation:
4. Age of Respondents:
a. Below 25 Years
b. 25 – 35 Years
c. 35 – 45 Years
d. Above 45 Years

1. What features will be important in choosing your new glasses?

a. Frame
b. Durability
c. Brand
d. Lens Thickness
e. Fashion/Trends
f. Others

2. What type of optical glasses purchase do you prefer?

a. Online
b. Offline
c. Both

3. Are you satisfied with the features of Lenskart?

a. Agree
b. Strongly Agree
c. Neutral
d. Disagree
e. Strongly Disagree

4. You find frames and lenses fit as per your taste.

a. Agree
b. Strongly Agree
c. Neutral
d. Disagree
e. Strongly Disagree

5. What are the factors which influence you to buy Lenskart?

a. Price

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 b. Quality
c. Offers
d. Warranty
e. Others

6. In thinking about your experience with lenskart.com was the quality of the customer service
you received?
a. Very Poor
b. Poor
c. Average
d. Satisfactory
e. Brilliant

7. What is your level of satisfaction about Brand?

a. Highly Satisfied
b. Satisfied
c. Neutral
d. Dissatisfied
e. Highly Dissatisfied

8. What is your level of satisfaction about Lens thickness?

a. Highly Satisfied
b. Satisfied
c. Neutral
d. Dissatisfied
e. Highly Dissatisfied

9. What is your level of satisfaction about frame color?

a. Highly Satisfied
b. Satisfied
c. Neutral
d. Dissatisfied
e. Highly Dissatisfied

10. What are the sources of awareness about Lenskart?

a. Friends
b. Relatives
c. Colleagues
d. Social Media
e. Advertisement

11. How will you rate Lenskart on the basis of value of money?

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 a. Above Expectation
b. Below Expectation
c. As per Expectation

12. How did you find the ordering process of your most recent order with Lenkart?
a. Very Poor
b. Poor
c. Average
d. Satisfactory
e. Brilliant

13. How satisfied were you with the skill and professionalism of the workforce that carried out
the work?
a. Highly Satisfied
b. Satisfied
c. Neutral
d. Dissatisfied
e. Highly Dissatisfied

14. Is it worth to buy eyeglasses from Lenskart?

a. Yes
b. No

15. What did Lenskart customer service do really well?

a. Assistance with Eye power/prescription related queries/issues
b. Knowledge of Products &Services
c. Assistance with discounts and offers
d. Professionalism and courteousness of agent
e. Time taken to resolve query/issue
f. Ability to understand questions/concerns

16. Did you find convenient with the procedure at the time of purchasing Lenskart product?
a. Agree
b. Strongly Agree
c. Neutral
d. Disagree
e. Strongly Disagree

17. Whether the Staff delivers appropriate services to the customers?

a. Excellent
b. Good

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 c. Neutral
d. Average
e. Below Average

18. Would you like to repurchase the product at Lenskart?

a. Strongly Agree
b. Agree
c. Neutral
d. Disagree
e. Strongly Disagree

19. Would you like to recommend Lenskart Product?

a. Yes
b. No

20. How satisfied were you with the overall quality of work carried out?
a. Very Poor
b. Poor
c. Average
d. Satisfactory
e. Brilliant

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Bibliography:

a. www.lenskart.com
b. www.wikepedia.com
c. www.google.com

Reference Books:

a. Marketing Management: Philip Kotler

b. Fundamentals of Marketing Management: William J. Stanton
c. Marketing Management: Rajan Saxena
d. Varma Agarwal., Marketing research, Forward Book Dept, 2010.

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