Society has experienced drastic change in the dynamics of commerce in recent history. The manner in which business is carried out has progressively metamorphosed over time. It began with barter trade in the medieval, to a monetary system and finally to virtual currency system with the technological dispensation. Digital commerce comes in the form of online product advertisement, digital marketing solutions and brand awareness. Traders and merchandizers have increasingly sought Digital marketing solutions to guarantee sustainability in the market. Such solutions range from customized emails to the clients, pop-up notifications and subscription sites etcetera.
Warby parker Inc. has been adversely affected due to the lack of proper practicum of transitioning to digital commerce. Such reluctance to make strategic adjustment in line with the technological dispensation has seen Warby Parker Inc. apply defective marketing techniques. The company has since lost its market share to competitors who embraced variegated marketing solutions thus paralyzing Warby Parker Inc.’s revenues.
To guarantee profitability, I recommend a radical marketing campaign must be established to initiate client engagement. Major social media communication platforms should be utilized to increase client outreach and brand promotion. To increase our aesthetic eyewear value chain we offer Home Try-On services where our clients may order up to five frames and keep them for a designated period of time while deliberating on which pair best suits them. The period is instituted to ensure the client has enough time to critique as well as indulge others’ opinion concerning the frame. Such practice is geared towards Brand promotion and inspiring client loyalty to our services.
To guarantee better returns for Warby Parker through digital commerce, we purpose to continue sourcing our products from manufacturers with a proven record of embellishing quality throughout our value chain. That way we have our client’s quality needs at the core of our services ensuring a high rate of client loyalty hence retention.
Through our online platforms, we offer convenience to our clients. Our clients have the opportunity to place in their orders with us comfortably by using our phone application and or our page. In such processes, neither our clients nor staffs have to experience the debilitating effects of human physical and psychological weaknesses associated with face-to-face trade. Such include improper issuing of change due to erroneous summations, compensation for faulty products and warehousing costs associated with store shopping.
Challenges relating to Psychological and physical disability are greatly remedied through online shopping. Patients with conditions such as agoraphobia and cannot readily abandon the confines of their houses benefit greatest from online shopping.
Pricing Information: An ordinary pair of frames retails for $75 in local retail stores. The price is strategically hiked to cover the overhead costs at the warehouse. The include perks for employees at the store, rent for the premises and profit for the business owner. When compared to our online stores price of $52 inclusive of tax and logistics costs then there exists reasonable variation in price. The $23 difference between our price and local retail store price will ensure the success of our product in the market.
E- Commerce is a positive milestone in business. Like every other line of business it is faced with a myriad of challenges. As such, adjustments are a work in progress to ensure that the organizational goals and strategies reflect commensurate changes in the business landscape. At Warby Parker limited, we will ensure that we custom our package to include a wider spectrum of eyewear products which appeal to a wide scope of clients.