Warby Parker Case Summary
To : Dave Gilboa and Neil Blumenthal, Warby Parker CEOs
From : Matthieu Givernaud, consultant
Subject : How Warby Parker can double its sales volume.
* Issue
Warby Parker, a young dynamic company which sells glasses, has only one website where it is possible to buy its glasses. It has also a showroom. Even if the company business is going well, the two CEOS want to double the sales volume during this new year. But as we said before, the company's results are good and profitable, that is why the problem of doubling the sales volume is not really urgent.
As Warby Parker is a young and dynamic company, the turnover is quickly increasing. That is the reason why the CEOs want to get in touch with this start up dynamic results and state of mind. However, if the issue is not solved, there is a risk of stagnation and eventually a sale's decrease. …show more content…
* Recommendation
In order to develop the sales volume, we recommend Warby Parker plan actions of promotion with temporary discounts.
Nowadays, customers are mostly looking for temporary discounts. Warby Parker could set up private sales like many other brands, or special operations like 12 hours of discounts on the anniversary of the brand. This kind of method will increase the website's traffic everyday because customers will look for these operations. However, they must buy a pair of glasses if they find one they like, this is called compulsive buying.
The disadvantage of this solution could be Warby Parker has to be ready to decrease their
margin.
* Action Plan
* Plan 4 times in the year of private sales (3 days each). * Plan 3 special dates (a few hours only), for instance : * brand anniversary * before holidays * special day like 12/12/12 at 12:12 * Prepare the website for the event. * Make sure your team is ready to manage the affluence of visitors and the sharp increase in sales. * Ensure your logistic department is competent.
Warby Parker can also send emails to inform its customers when the text private sale will happen. The main advantage of this type of action is that it is not expensive, and it is only on the website, which enables Warby Parker to respect its vision and values. * Alternatives
We can provide alternatives to Warby Parker, but there won't be as efficient as the recommendation. * Warby Par can put the emphasis on advertising campaigns to become more famous and attract more visitors. Consequently, the sales volume will increase, but adverting is expensive. * Open a point of sale in the showroom in order to sell more. In this case, this is not necessary to buy new walls to create the point of sale. * One more time, Warby Parker can decrease the price of its glasses, even if the are already the cheapest. It could increase the sales.
From : Matthieu Givernaud, consultant
Subject : How Warby Parker can double its sales volume.
* Issue
Warby Parker, a young dynamic company which sells glasses, has only one website where it is possible to buy its glasses. It has also a showroom. Even if the company business is going well, the two CEOS want to double the sales volume during this new year. But as we said before, the company's results are good and profitable, that is why the problem of doubling the sales volume is not really urgent.
As Warby Parker is a young and dynamic company, the turnover is quickly increasing. That is the reason why the CEOs want to get in touch with this start up dynamic results and state of mind. However, if the issue is not solved, there is a risk of stagnation and eventually a sale's decrease. …show more content…
* Recommendation
In order to develop the sales volume, we recommend Warby Parker plan actions of promotion with temporary discounts.
Nowadays, customers are mostly looking for temporary discounts. Warby Parker could set up private sales like many other brands, or special operations like 12 hours of discounts on the anniversary of the brand. This kind of method will increase the website's traffic everyday because customers will look for these operations. However, they must buy a pair of glasses if they find one they like, this is called compulsive buying.
The disadvantage of this solution could be Warby Parker has to be ready to decrease their
margin.
* Action Plan
* Plan 4 times in the year of private sales (3 days each). * Plan 3 special dates (a few hours only), for instance : * brand anniversary * before holidays * special day like 12/12/12 at 12:12 * Prepare the website for the event. * Make sure your team is ready to manage the affluence of visitors and the sharp increase in sales. * Ensure your logistic department is competent.
Warby Parker can also send emails to inform its customers when the text private sale will happen. The main advantage of this type of action is that it is not expensive, and it is only on the website, which enables Warby Parker to respect its vision and values. * Alternatives
We can provide alternatives to Warby Parker, but there won't be as efficient as the recommendation. * Warby Par can put the emphasis on advertising campaigns to become more famous and attract more visitors. Consequently, the sales volume will increase, but adverting is expensive. * Open a point of sale in the showroom in order to sell more. In this case, this is not necessary to buy new walls to create the point of sale. * One more time, Warby Parker can decrease the price of its glasses, even if the are already the cheapest. It could increase the sales.