Boston, MA -- (SBWire) -- 08/12/2013 --Warby Parker, thanks to its cost-efficient and customer-oriented strategy, managed to turn a small $100,000 investment into a viable business opportunity. The company proves that it is possible to build long term profitability by delivering customer satisfaction, whilst keeping prices at a reasonable level.
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Highlights
Despite a high level of product differentiation and large number of players, the competition within the retail eyewear market in the US is not forcing prices down. The near- monopoly situation in the production and distribution of eyewear results in high mark-ups.
Warby Parker company saw the existing situation as a business opportunity and aims to create a beneficial alternative to the overpriced designer glasses. The company keeps its costs low and sells directly to consumers. Warby Parker has been exceeding its sales targets. Its existing customer base is one of the largest drivers of its growth.
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Your key questions answered
- How much is the US eyewear market worth and what are its most lucrative segments? What are the drivers of the eyewear market and risks to consider?
- Why are designer glasses so expensive? Who maintains an effective degree of monopoly in the eyewear market and where is the competition coming from?
- Is it possible to build long term profitability by delivering happiness? How to open a completely new market in the long established industry?
- What are the simple ways to knock down manufacturing and licensing costs?
- How to secure online shoppers to get more business and lower percentage of returns?
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"Warby Parker - Disruptive Innovation in the High Priced Eyewear Industry" Published
Fast Market Research recommends "Warby Parker - Disruptive innovation in the high priced eyewear industry" from MarketLine, now available