MINOR PROJECT REPORT-I

ON

A study on consumer satisfaction towards Lenskart

Submitted in partial fulfilment of the requirement of “Bachelor of Business

Administration”

Guru Gobind Singh Indraprastha University

Session 2021-22

Under the guidance of Submitted by

Dr. Rashi Gupta Mangesh Pandey
Assistant Professor BBA -II Semester
Enrollment No – 03025501721

JIMS ENGINEERING MANAGEMENT TECHNICAL CAMPUS 48/4 Knowledge Park III,

Greater Noida-201306 (U.P
 DECLARATION

I hereby declare that this Minor Project Report titled “A study on consumer satisfaction
towards Lenskart” submitted by me to JIMS Engineering Management Technical Campus
a bonafide work undertaken during the period from May to June by me and has not been
submitted to any other University or Institution for the award of any degree diploma / certificate
or published any time before.

(Signature of the Student) Date: 15 June

2022
Name: Mangesh Pandey

i
 ACKNOWLEDGEMENT

I offer my sincere thanks and humble regards to JEMTEC, Greater Noida for imparting us very valuable
professional training in BBA.

I pay my gratitude and sincere regards to Dr Rashi Gupta, my project Guide for giving me the cream of
his knowledge. I am thankful to her as she has been a constant source of advice, motivation and
inspiration. I am also thankful to her for giving his suggestions and encouragement throughout the
project work.

I take the opportunity to express my gratitude and thanks to our computer Lab staff and library staff for
providing me opportunity to utilize their resources for the completion of the project.

I am also thankful to my family and friends for constantly motivating me to complete the project and
providing me an environment, which enhanced my knowledge.

Date: 15 June 2022

Name: Mangesh Pandey

Enrollment No.: 03025501721

Course: BBA (II SEMESTER)

(Signature of the Student)

ii
EXECUTIVE SUMMARY

It is crucial to not only exist but to flourish in the market in today's world of harsh, fierce competition. The
market of today is incredibly more complicated.

Lenskart offers over 5000 frames and glasses and more than 45 different kinds of high-quality lenses. The
company follows an inventory-led business model wherein equal sourcing is done from India and China.
Lenskart has its own team of designers and stylists that keep a tab on the latest trends in the eyewear
department, the designs made by the team are then passed down to the manufacturers.

In order to reach the masses, they have also ventured into offline stores through the franchises model.
Lenskart currently has 500 stores across more than 66 cities, including in tier II and tier III locations such as
Agartala, Tirupati, Siliguri, Raipur, Haridwar and Varanasi, among others. They have balanced the reach by
spreading out across metro and non-metro locations and are currently serving more than 4000 people in a day
and looking at scaling it up to 200,000 people in the coming years.

There are 4 success factors in this industry that are quality of the product, the product portfolio, the
delivery time, and lastly the sales service. Lenskart has a good value proposition that provides high-quality
products at an affordable price. They also have a team of 1000+ employees who operate on manufacturing,
eye technicians, custom service, tecnology andwhich further expand as the growing demands.

There has been extensive discussion on the definition of service and service quality . Following this
comparison analysis was created along with tables and a pie chart to present the overall picture of the market
study . Conclusion have been made while considering the through investigation of the data.

iii
 INDEX

S.NO . TOPIC PAGE

NUMBER

1. Declaration i

2. Certificate (Issued by the college)

3. Acknowledgement ii

4. Executive Summary 1

5. Chapter-1: Introduction 2-8

6. Chapter-2: Company Profile 9-20

7. Chapter-3: Literature Review 21-23

8. Chapter- 4: Research Methodology 24-27

9. Chapter-5: Data Analysis and Presentation / Study of Topic 28-39

10. Chapter-6: Findings 40-41

11. Chapter- 7: Recommendations/ Suggestions 42-43

12. Chapter- 8: Conclusion & Limitations of the Study 44-46

13. References/Bibliography 47

14. Annexure 48-50

 CHAPTER 1

INTRODUCTION

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 What is customer satisfaction?
Customer satisfaction (CSAT) is a measure of how well a company’s products and services
meet customers’ expectations. It reflects your business’ health by showing how well your
products are resonating with buyers.

How to measure customer satisfaction

Customer satisfaction can seem like a vague concept, but there are concrete ways to measure it.
You can source a customer satisfaction score by conducting CSAT surveys, for example. These
are typically short, one- to two-question surveys offered at the end of a business transaction. A
classic question is “How satisfied are you with the product?” with answers ranging from “very
satisfied” to “very unsatisfied.”

Although CSAT is one part of customer satisfaction, it is far from the only measure. Businesses
also use Net Promoter Score (NPS) surveys to determine whether their customers are promoters,
detractors, or passives.

Customer satisfaction vs. customer loyalty

Warning: Do not confuse customer satisfaction with customer loyalty. They are intimately
linked, but there is a difference between the two concepts.

Customer satisfaction measures how happy a customer was with a support interaction or a
purchase. Customer loyalty, on the other hand, is an ongoing state. Loyal customers give a
company their repeat business over time. It’s not a short-term measure, but rather a long-term
understanding of the health of your customer relationship.

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When you create and maintain a customer experience that resonates with buyers, customers
return again and again. Ensuring high customer satisfaction in the short term is a key component
of gaining that long-term customer loyalty.

Why is customer satisfaction important?

Customer satisfaction is important because it means your customer base likes what you are
doing. Research shows that customer satisfaction leads to greater customer retention, higher
lifetime value and a stronger brand reputation.

1. It drives customer loyalty

Satisfied customers tend to share their positive experiences with friends and family. But the
opposite is also true: An unhappy customer tells more people about their negative experiences
than a happy customer does.

Social media makes social proof more powerful than ever before, with 79 percent of people in
the United States using social media to connect and share their experiences. Today, a customer
can easily share feedback on a bad experience with millions of people with a single click (so
make sure that review is going to be a positive one).

You are more likely to gain positive referrals if you use customer feedback to prioritise top-of-
the-line service. For example, our report found that 89 percent of people think quick responses
are important when deciding which company to buy from. If you want to improve your
company’s response time to support that data, you might incorporate AI technology, like
our AI-powered Answer Bot, to send prompt respo

2. Customer satisfaction metrics reflect your support team's

performance

Customer satisfaction benchmarks and metrics do not just help you gauge how happy your
audience is—they also tell you how your support team is doing. Use a variety of team metrics to
understand customer satisfaction levels:

 Your support team’s initial response time: In our customer experience report, the #1
most frustrating part of bad service was long wait times. Faster support team response
times not only lower customer frustration, but also give you a measure of your team’s
speed and efficiency.

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  The length of time it takes your team to resolve a customer issue: If it is taking your
team hours to resolve issues that could be dealt with quickly, it might be time to tweak
your internal processes. Do not just strive to respond quickly—resolve quickly, too.
 How many times a ticket or call required a transfer to find a resolution: Few things
are more frustrating than having to wait to be transferred to a new agent and repeat your
issue to get your request completed. If transfer occurrence drops, customer satisfaction
should rise.

Considering our study found that the #1 aspect for good customer service was quick issue
resolution, your team’s efficiency in these areas says a lot about customer satisfaction.
Our built-in analytics function is a great way to observe how well your support team serves
customers historically and in real time. With the help of AI, teams can even predict customer
satisfaction during a conversation—before a customer takes a survey.

3. It encourages repeat purchases

A satisfied customer is a loyal customer, who will stick with your company year after year. So,
how do you get those repeat customers? By hitting your customer support efforts out of the
park. Our trends report agrees: 57 percent of consumers say excellent customer service is a
factor in their brand loyalty.

How do you know if your customer service is driving customer loyalty? There are two different
ways to answer this question. The first is to directly poll customers using a net promoter score
survey, or to ask questions like:

 “Would you speak to your friend about our brand?”

 “How often do you speak to your friends about our brand?”

These questions can shed some light on customers’ likelihood of being brand ambassadors.

The second method is to observe customer behavior. For example, you can track repeat
purchases with loyalty programs and referral posts for your business on social media. Reading
conversations in your community forum can also give you insight into how customers feel about
their experience with your product or service.

How do you achieve customer satisfaction?

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The benefits of focusing on customer satisfaction are clear. But actually making customers
happy can take some trial and error. The key is persistence. Always aim to go above and beyond
for customers, and lean on other departments to help boost your customer experience.

How to improve customer satisfaction

1. Customer feedback
2. Convenience
3. Speed.
4. Build a customer-focused culture
5. Empathy

1. Become obsessed with customer feedback

Become a student of your customer feedback. Do not just collect it: Analyse it and apply it to
what your customers are saying. Commit to learning about buyers’ pain points and then make a
plan to alleviate them in ways that set you apart from competitors.

A great way to do this is to use Zendesk’s feedback feature. The tool includes analytics for
agent performance and customer surveys, so you can study complaints and compliments
regarding your services.

Even without a CRM like Zendesk, you can still keep close tabs on customer feedback. Social
media and online review boards are especially good places to monitor buyer attitudes. Search
for mentions of your brand name or your dedicated hashtags on social sites to see what people
are saying.

2. Create a sense of convenience

The most successful physical stores are all about buyer convenience. Customers enjoy places
with flexible hours that fit their schedules. Think of the success Walmart, 24-hour drug stores
and gas stations have with that model. We are also more likely to shop at places close to us.

To build the same sense of convenience as a brick-and-mortar store online, you need to have a
digital presence on the platforms and services your customers already use. Use SEO-optimised
blog posts and social content to be front and centre in Google searches and social media feeds.
And make a point to be easily accessible for support questions on your customers’ channels of
choice.

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Offering support via messaging apps (like WhatsApp, Twitter and Facebook) helps businesses
create that same sense of 24-hour availability. These are the same channels customers use to
interact with friends and family, so it gives you a chance to meet them where they already are.

You should also offer opportunities for customers to help themselves. Many customers prefer
the hands-off convenience of a knowledge base, where they can search for information without
having to interact with customer support reps.

3. Make customer satisfaction a company-wide focus

To improve overall customer satisfaction, you have to put time and effort into a business
strategy that puts customers first.

Using a tool like the balanced scorecard is a great first step. The balanced scorecard guides
companies in thinking about their operations from four different perspectives:

 Financial
 Internal business
 Customer
 Innovation and learning

It also helps companies consider how all their activities are working toward the goal of high
customer satisfaction.

The balanced scorecard is just one way to incorporate customer satisfaction into company goals.
You can (and should) incorporate customer satisfaction into your company mission and value
proposition, too. That keeps it top-of-mind with every employee, regardless of their position.

4. Lead with empathy

If there is one thing the pandemic taught us, it’s that empathy is an essential skill for support
professionals— it is even more valuable than customer service experience. In fact, nearly half of
customers want to interact with an empathetic customer service representative. Support leaders
can provide empathy training, but it is also a good idea to hire support reps who can already put
themselves in an angry customer’s shoes and communicate that understanding to the customer.
Businesses might also consider allowing agents to make exceptions to certain policies in
situations that require empathy.

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An investment in customer satisfaction is an investment in your company’s
future

Today’s customers have very high expectations of the companies they choose to do businewith.
Facing such high standards, your best shot at growth is to deliver an exceptional customer
experience. But a commitment to customer satisfaction has to go beyond mere good intentions;
you need the right tools to assess your current practices, figure out what your customers need
and chart a path for the future.

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 CHAPTER 2

COMPANY PROFILE

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COMPANY PROFILE

Lenskart offers over 5000 frames and glasses and more than 45

different kinds of high-quality lenses

BACKGROUND AND HISTORY

History

Peyush Bansal (CEO & Founder), Amit Chaudhary (Co-founder) and Sumeet Kapahi (Co-
founder) launched Lenskart in October 2010 with a vision to “create value using Internet” and
today this unique venture of selling eyewear online has become a huge success. At a time when
people were just wondering whether they would buy anything other than books online, this trio
managed to sell eyewear online.

Since the beginning of the brand, the aim has been to figure out problems and solve them in the
most unique and creative way possible.

Fund Raising
In September 2016, Eyewear retailer Lenskart Solutions Pvt. Ltd raised funding from Premji
Invest, the private investment arm of Wipro Ltd chairman Azim Premji. Premji joins other
Indian corporate leaders like Ratan Tata, Infosys co-founder Kris Gopala krishnan and Ronnie
Screwvala as investors in Lenskart Previously, [6] the company raised $4 million in its first
round of funding in 2011 from IDG Ventures. A year later, Lenskart brought in media veteran-
turned- investor Ronnie Screwvala’s Unilazer Ventures on board as it secured another $10
million. In 2015, it raised Rs 135 crore in a Series C round led by private equity firm TPG
Capital,[ Hong Kong-based TR Capital and IDG Ventures.

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Offline Presence
Lenskart introduced its first franchisee store in Chandigarh on January 28, 2014. The company
has 250 stores from where customers can book products and pick up later from the store or get
these home delivered. The stores are not only in Metros like Delhi & Mumbai but even cities
and towns like Shimoga, Dharmapuri, Rourkela, Devangere, Patna etc. The company is
investing Rs. 60 crore to set up a lens manufacturing factory in Greater Noida as per August
2015.

Key features & technology

Lenskart has innovated itself over the years and have come out as service innovators:

• Made by robots: Lenskart is India's first and the only brand to use robotic technique that
delivers glasses which are accurate to 3 decimal places. These machines imported from
Germany, ensure perfection on all front: an automated system that allows to inspect lenses,
determine the geometric center, and load the lenses for edging without the need of a finishing
block

• 3D Try On: You can try 1000’s of frames in 3D on your face

• Home Trial: In December 2013, Lenskart introduced a home check-up program. Book an
appointment and their certified optometrist will visit a prospective customer at home/office
who will also carry over 100 frames with them. It’s as easy as booking a cab, Book it through
the app or website

• Try it before you buy it: You can choose from thousands of styles online and select up to 5
frames to try at home. Lenskart will send someone to your house for a free trail.

Business Model
Lenskart follows an inventory-based business model. [13] Various styles and brands are available
on the website as well as the store.[14] The online retailer ships close to 1,20,000 orders a
month,The company makes more than 5,000 spectacles a day, and plans to raise it to 30,000 as
per March 2016.[15] In March 2016 NDTV reported that Lenskart sees 2 lakh visitors on its
platform every day, and ships between 800-900 glasses a day from its facility in Okhla in
Delhi.

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Revenue
As per September 2016, Lenskart had annualised revenue run rate of over Rs 350 crore, with a
target of reaching Rs 2,500 crore in the next four years. It expects offline channels to
contribute to 50% of the revenues in the next two years. The company's current gross
merchandise value is around Rs 300 crore. By 2021, the company plans to have a GMV of
around Rs 2500 crore. Overall, the company has grown by 150% in the last one

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PROBLEMS FACED BY Lenskart WHILE ENTERING THE INDIAN

MARKET:

The eyewear market in India is highly unorganised and flooded with unbranded
products. Lenskart began in 2010 to make eyewear more accessible and affordable.
Founder Peyush Bansal had quit his job at Microsoft US to set up the company. The
numbers, now, speak for themselves. The company’s revenues almost doubled —
from ₹485.5 crore in FY19 to ₹963.7 crore in FY20. Arch rival Titan — retailed
under the Titan Eye Plus brand and launched in March 2007 —clocked ₹544 crore
in sales in FY20. In fact, the omni-channel approach has worked for Lenskart. Along
with an online presence, the company has 700 outlets in the country and expects to
add 300 more in the next one year.
The Idea!
India is often called the blind capital of the world. About 40% of the world’s visually
impaired people live in the country. The genesis of the idea behind Lenskart is that it
is such a big problem. Vision is the biggest problem here, but unfortunately it
doesn’t get the attention it deserves. It sounds fancy to say that we’ve treated
Malaria and dengue because they are diseases, but vision correction doesn’t get
attention. Students continue to have poor vision because they never knew that they
could see better, but that’s impacting their ability to study more. Similarly, we have
evolved so much as an economy from Uber to Ola to Swiggy to Dunzo, 50% of these
drivers have a vision correction problem, but they are not solving it. That was the
motivation.
Early Struggle
With problems as large as this, you cannot just make an impact at the top and hope
for things to change. You need to make an impact on the root cause of things. In a lot
of other businesses, you just make the service and start marketing it, but in eyewear
a lot of ‘problem diagnosis’ is required. The core challenge was staying grounded and
focussing on those problems. It remains even now. In fact, there are three core
problems: One is access. We have very few shops for eyewear considering the
number of people who need it. If you look at the number of mobile phone shops and
the number of eyewear shops, you’ll know the difference. The second is awareness
that it’s not such a big deal to get your eyes tested. The third is making it affordable.

Make Or Break Moment

About a year and a half after starting Lenskart, we started a few other businesses like
selling watches, bags and jewellery. That was the ‘break’ moment for us because
suddenly from a purpose-driven company that was solving such a large problem, we
became a business company. And the ‘make’ was that we decided to get out of all of
that within a year. We realised that this is not a big problem and this doesn’t have
that sense of purpose that eyewear has. Sometimes to grow the business you try to
do more things.

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The Business Model
Instead of thinking about getting the business model right, we were thinking about
how to solve the problem —how do we get more people to buy glasses, and how do
we get them to buy from Lenskart. More than the business model, it was about
picking up each of these problems and solving them. And I don’t think there is any
other strategy that’s needed in a business at a late stage like ours. If you can say why
people who are buying are buying and why people who are not buying are not
buying… if you can keep answering those questions, most problems get resolved.
That is our business model.

Tech Challenge
The challenge is always to find the right quality of tech talent. There’s a lot of tech
talent in India, but you need people who can associate with the mission you are
working on. Also, the kind of tech that is needed needs to evolve very fast. One of the
things that we did was we went omni-channel. While 70-80% people use
smartphones, less than 10% of them shop online. People look for assistance, and so
we started stores, home service. It helped all those who had smartphones but were
not buying online. They started buying from Lenskart.

HR Challenge
For organisations that need to be disruptive and problem solving, you need people
who are good fits in terms of your style of working — whether you need to take
decisions fast, need to make mistakes fast, or need more tech orientation. So, it’s
better to hire on those factors and give them challenges. Secondly, it’s important to
hire people who are passionate, those who can drive change. And thirdly, there are
cultural values like respect. You should not compromise on those for business
because that sets the kind of culture you’re building, the kind of people who are
coming in, etc. There are 1-5% people who will take your organisation to the next
level. They are pretty much owners, as you are the founder. It’s important to hold on
to such people, and invest time in making sure they become your partners in a
growing business.

Managing Investors
For us it was not that difficult because we were not looking for funding. Securing the
first round of funding is easier if you are really solving a core problem, if you are
focussed on your consumer experience. The more you chase funding, the less you
will get it. The more you chase your customer, the more funding you would get.

Marketing & Sales Lessons

From a marketing perspective, it’s important to build a product, which, when a
consumer gets it, they should feel good about. They want to share that with a few
more people. There’s an aspiration. Once you have that and people enjoy your
service, you package it well and give the right experience. Marketing is not
necessarily Facebook and Google. A large part of marketing is your product, your
customer experience, your look and feel, etc. Once that happens, your sales become
easy. Organisations, entrepreneurs of young companies resort to marketing too
soon. Even your price is your marketing, your packaging is your marketing.

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When Did You Think You Had Arrived?
Around four years back, I was at the Bangalore airport at the security check. I was
counting the number of people who were wearing our eyewear, and it was more than
50%. That moment I did feel that we are on to something bigger. Like we could
create an impact similar to what a Maruti has created in India.

Riding Through Toughest Times

The toughest phase was when we were moving our factory/operations to a new
technology platform years back. We were moving to a new ERP (enterprise resource
planning) kind of a system… a new warehouse system. Somehow that transition did
not go well. It wasn’t fully tested. At least for 10 days we were not able to serve our
customers on time. We were serving duplicate orders, a lot of orders were sitting
with us for 10 days, we were giving wrong specs, etc. That was the toughest period. It
was a two-week process. It was just a mad house because we had all these customers
who had put faith in us and given orders to us for their glasses, but we just had really
screwed it up. I was in the office for two weeks; we were sleeping on the floor. We
were getting orders out somehow, apologising to customers, returning their money,
etc.
What Next?
We want to serve at least 50% of India. We are on the journey and we have a right to
win. We are also looking at localising more contacts, sunglasses, and even some
parts of glasses. We are not looking at diversification into any other category. We
want to stay committed. But we are looking at international markets. We are there in
some already. Globally, four-billion people need specs and 2.5 billion don’t have
them. So, we are looking at opening in more markets such as South-east Asia and
West Asia. In the U.S., we are setting up an office to hire people there.

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Competitor Analysis
Lenskart competitors include both online and offline players. Even traditional
retailers who specialize in eye wear are competitors of Lenskart. The major
competitors include:

• GKB Opticals

Is a large Indian retailer of optical products (sunglasses, eyeglasses, contact lenses

& accessories), and operates multiple retail stores in India. Headquartered
in Kolkata, the company has over 70 stores across India and employs over 600
people. Started in 1959, the company set up its first retail outlet in Gariahat -
Kolkata, which is one of the flagship stores of the company. has grown to a large
retail chain of outlets, with lifestyle optical products.

• Coolwinks

Coolwinks is one of many brands in India that are shaping the eyewear industry's trends.
Their primary goal is to find an audience to advertise their youthful eyewear items too. They
have currently served over 30 lakh clients from diverse geographical places. It got founded
by Ganesh Iyer in 2016. over 4000 different things to offer their clients.

• Specsmakers
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Specsmakers is a leader in crafting stylish, high-quality, eyewear at affordable prices.
Specsmakers operates more than 250+ retail locations across Chennai, Bengaluru,
Coimbatore, Hyderabad, Erode, Arakkonam, Guntur, Hosur, Kanchipuram, Karur,
Karaikudi, Kumbakonam, Madurai, Mangaluru, Mysore, Nagercoil, Nellore, Puducherry,
Salem, Thanjavur, Tuticorin, Tumkur, Trichy, Tirunelveli, Tirupur, Tirupati, Vellore,
Viluppuram and also expanding into other cities. Specsmakers offers a wide variety of
fashionable eyewear with high quality with a focus on reinventing the eyewear shopping
experience, exceptional service with an unprecedented level of speed and convenience to
make the process of buying glasses fun and enjoyable.

• Vision Express

A joint venture between Reliance Retail India and GrandVision Europe, Vision Express
is the world’s largest optical retailer with a global presence of over 6000 stores in
over 44 major countries. Our stores are present in leading cities like Amsterdam,
London, Berlin, Vienna, Brussels, Sao Paulo, Prague, Dubai, Stockholm and Paris.

• Titan
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Titan EyePlus, the third major venture of consumer business by Titan Company, was
launched into the organized eyewear segment in March 2007.Titan EyePlus offers Indian
consumers a world-class optical retail experience through products which showcase the
best in contemporary design & style, coupled with optical expertise guaranteed thanks to
the technical collaboration with Sankara Nethralaya, India's premier eye care
institute.Benchmarked against the best in the world, Titan EyePlus has played a major role
in elevating the eyewear category in India from its traditional functional status to one that
of a fashion statement, the brand has also redefined the way the organized optical retail
market in India .

Eyeplus Also manufacturers like Ray Ban, Essilor who have their own online stores.
Lenskart faces competition from marketplaces like Amazon, Flipkart, Paytm Mall, Snapdeal
which sell eye wear and impact its business directly. With a market size of 18000-20000
crore INR, organized players account for barely 9-10% of the market. The brands compete
with a vast bouquet of low priced products available off the street and online. The challenge
is to steer customers away from local opticians, keep them loyal and encourage them to look
at spectacles as more than a one-time buy. Lenskart should also focus on the future of
competition and not just on the current competition & innovate accordingly.

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SWOT Analysis for LENSKART

Starting a sunglasses business gives you a way to work with the latest fashionable styles and help
people choose the best pair to fit their lifestyle and outdoor needs. But before you buy your first
display case to fill with sunglasses, conduct a SWOT analysis to document the strengths,
weaknesses, opportunities and threats that may affect your success in selling sunglasses. Analyzing
your shop’s situation and potential is critical for building a profitable business.

Strengths
In the strengths section of your SWOT analysis, pricing may be a strong point if you sell your
sunglasses cheaper than your competitors. Another strength could rest in the variety of styles you
offer, such as designer glasses and styles that appeal to a variety of ages. If you’re an experienced
business owner, that’s another plus when it comes to your sunglasses business, especially if your
background is in retail. Other strengths might include a willingness to educate consumers on the best
type of UV protection or to offer free basic repair services so buyers remember your shop when they
need another pair. Access to suppliers is another strength you want to bring to your business.

Weaknesses
19
If you only sell your sunglasses online or in a retail shop, you may have a hard time matching the
sales volume of competitors, which could be a weakness if their greater numbers give them better
pricing from common vendors. Depending on how much storefront space rents for in your area, the
barrier to entry might be low which could mean extra competition. Another weakness of selling
sunglasses is limited flexibility in pricing. Go too high, and you may lose business to the shops,
kiosks and department stores that cost less.

Opportunities
Opportunities for selling sunglasses may include an increased presence in an area with sunny
weather, or a greater inventory heading into the summer months. If your business currently relies on
a storefront or kiosk for its sales, adding an online store gives you a way to find even more buyers
and an opportunity to expand your business. The ability to customize sunglasses with logos and
images that don’t get in the way of the person’s vision, a new trend in the sunglasses business, is
another opportunity to stand out if you offer it earlier, cheaper or better than the competition.

Threats
A new sunglasses shop set to open nearby is one obvious threat. Another could be department stores
that expand the designs and styles they offer, or a nearby kiosk that can offer his wares for a lower
price because his infrastructure costs are lower than yours. A lack of skilled people willing to work in
your shop is another threat. If other jobs are abundant in your area, you may need to pay more to
entice qualified retail staff

20
 CHAPTER 3
LITERATURE REVIEW

POONAM PAINULY and SHALU RATHI (2016)1 in their research paper “Mobile wallet :An
upcoming mode of business transaction “have analysed that ease of transaction ,secured profile and
convenience in handling application put forth the benefits of wallet money and also concluded that
business sectors like banking ,retail, hospitality etc., are making use of wallet money and mobile
payment instruments including contactless and remote payment in the customers –business and
customers to customers areas.

21
NGOC DOAN(2014)2 in their research paper “Digital wallet: Requirement and challenges “have
identified about Singapore’s use of digital wallet and analysed the key challenges in building and
deploying a digital wallet.
Dr.HEM SHWETA RATHORE3 in her research paper “Adoption of Digital wallet by consumers
“have analysed about the factors that influence consumers in adoption of digital wallet and also
analysed the risk and challenges faced by consumers in usage of digital wallet and concluded that
shoppers are adopting digital wallet largely due to convenience and ease to use and in the future
years digital wallet will gain more widespread acceptance.

Barker (1992)4 in his study, Globalization of credit card usage: The case of a developing economy”
measured the attitude of Turkish consumers towards credit cards, and the approach of card issuers by
surveying two samples of 200 card holders and non-holders. The respondents were categorized into
better educated, middle aged members of the upper middle class. The most significant reasons for
using a credit card were “case of payment”, followed by “risk of carrying cash”.

Mathur and George (1994)5 , “Use of credit-cards by older American” shows the usage behavior
pattern of older people with credit card spending. Using a large national sample of respondents from
different age groups, finds that older adults use credit cards as frequently as younger adults when
circumstances for consumption inboth groups are similar. Contrary to it, the commonly held belief
that older people do not use credit cards, the data suggests the need for practitioners to stop thinking
about consumer targets in terms of age and focus more on circumstances that determine one’s
likelihood to use credit cards.

Kaynak (1995)6 , “Correlates of credit card acceptance and usage in an advanced developing Middle
Eastern Country.” Study shows that with the surge of technological developments, innovation and
increase in the level of socio-economic progress the acceptance of credit cards and usage has
increased like anything.
Geeta(2022) Both Irfan and Masira from Lenskart store at Ashokraj Goregaon west, have given us
an excellent customer service during our purchase of glasses. They helped us to sellect the frames
and called us promptly once our order was ready. It was a good experiance. Thank you very much

22
Irfan and Masira, we need such customer service from all the stores of Lenskart. Please this has to be
noted by Peyush Bansal the CEO of Lenskart. Thank You.

Maria (2020) Fantastic experience! Love my new eyeglasses. I bought one pair clip on and an eye cat
shape in red. Absolutely happy with both, they fit better than when I go to the store. The price was perfect
for my budget and the progressive is just great. I could only wish for more variety in the frames but I
know that will happen very soon because this people know what they are doing!
Thank you Lenskart!

Seema(2021) I bought 4 spects from Lenskart M G road Pune in October'21. One of it broke down in 15
days due to some mishandling by me. I visited the M G road store on 22nd October for same new spects.
Afroz ma'am who is sales executive attended me again and managed to get the frame repaired free of cost
and saved my Rs 5500. Thank you so much Lenskart and Afroz.

23
 CHAPTER 4

RESEARCH METHODOLOGY

Research methodology is a way to systematically solve the research problem. The research
methodology includes the various methods and techniques for conducting a research.
Defining the Research Problem and Objectives: It is said that, “A problem well defined is “Half
solved”. The first step in research methodology is to define the problem and deciding the research
objective. The objective of my study is to know the consumer buying behaviour in eyewear

1. RESEARCH DESIGN
 What is research design?

24
A researcher's research design is the framework for the methodologies and approaches
he or she will use. Researchers may focus on research methodologies that are
appropriate for the topic matter and set up their studies for success thanks to the design.
There are two types of research:

 What research is being used here?

Quantitative research design is being applied here to find the data on customer satisfaction.
Data has been collected by a survey to know general ideas of people on Lenskart. Those
numerical data have been converted into pie charts to get the better idea of what
generally public admire about Lenskart as a franchise and as a online brand.

2. DATA COLLECTION METHOD: -

The majority of data is gathered using two approaches. The following are the details:

a) Primary Information
b) Secondary information
a) Primary information: -

 Primary data are first-hand accounts that are gathered for the first time in order to
answer a research challenge.
 The data gathered from primary sources are considered original sources.
 Its new information obtained directly from respondents for the first time.
 Primary data is valuable because it provides trustworthy, factual first-hand
information.
 The researcher gets primary data as needed for his study topic from a source or from
an internet source.
 It's also time-consuming and expensive to collect data.

25
  Mail surveys, personal interviews, observation, and experimentation are some of the
most common approaches used.
 Data gathering equipment must be tailored to the investigation's requirements.
 Primary data is information gathered directly from respondents by the researcher.
 Primary data is gathered for more in-depth information on specific components of a
study endeavour.
 Customer surveys were used to gather information.

b) Secondary information:

 Primary data is followed by secondary data.

 This information has already been gathered and compiled for someone other than
the researcher.
 It is easily accessible in a compiled form.
 Such information could be presented in the form of statistical statements, tables,
reports, and so on.
 Such information is available in both published and unpublished formats.
 Secondary data can be used as the "only source" of information in a research study.

3. Sampling Design:

The random or probability sampling approach is utilized for sampling.

Probability sampling is a form of sample selection in which random processes, such as coin
flipping, are used to choose items.

Statistical tools for analysis:

 This report uses tables, pie charts, and other statistical tools for analysis.
 Questionnaire survey is one of the strategies used to perform consumer surveys.
 Microsoft Office was used to create the entire report.

26
Size of the sample: - 50

4. OBJECTIVES OF STUDIES

i)To study the satisfaction level of consumer’s consuming products, services from Lenskart
ii) To know the most preferred food items by the costumers.
iii)To investigate the factors that affect Lenskart purchase .

27
 CHAPTER 5

DATA ANALYSIS

Q1. Are you satisfied with Lenskart ?

Table 5.1
No. of
Attributes respondents %
Yes 47 94

No 3 6

Total 50 100

28
Graph 5.1:

INTERPRETATION :
We can see from the graph that out of 50 respondent majorities near about 45.8% they
use to say YES only 6% NO .

Q2. Are you satisfied with space available in Lenskart ?

Table 5.2 :
No. of
Attributes respondents %
Yes 42 84

No 8 16

Total 50 100

29
Graph 5.2 :

INTERPRETATION:
Most respondents satisfied with space available in Lenskart.

Q3. Your general perception about Lenskart ?

Table 5.3 :

No. of
Attributes respondent %
s
GOOD 20 40

VERY GOOD 14 28

30
 FANTASTIC 16 32

TOTAL 50 100

Graph 5.3 :

INTERPRETATION:
Most respondents are attracted towards general perception of Lenskart.

Q4. Are you satisfied with Maintenance cost ?

Table 5.4 :

No. of
Attributes respondents %

Yes 42 84

31
 No 8 16

Total 50 100

Graph 5.4:

INTERPRETATION :
Customer are happy with maintenance cost above 80% respondent YES.

Q5. How satisfied are you with the

Attributes No. of %
Respondents comprehensive of our offer ?
1 1 2 Table 5.5 :
2 1 2
3 3 6
4 0 0
5 6 12
6 2 4
7 6 12
8 13 26 32
9 6 12
10 12 24
TOTAL 50 100
Graph 5.5 :

INTERPRETATION :

Most respondents rate 10 that they are satisfied with the offer. Which is given by the
Lenskart.

Q6. How would you rate our prices ?

Table 5.6 :

No. of
Attributes respondents %

33
 GOOD 4 16

VERY GOOD 16 32

FAIR 22 44

DECENT 8 8

TOTAL 50 100

Graph 5.6:

INTERPRETATION :
Most respondents experienced FAIR they give 32 percent of respondents have
experience of GOOD.

Q7. How satisfied are you with the timeliness of order delivery ?
Table 5.7 :

34
Attributes No. of %
Respondents
1 2 4
2 1 2
3 1 2
4 1 2
5 4 8
6 6 12
7 6 12
8 6 12
9 11 22
10 12 24
TOTAL 50 100
Graph 5.7 :

INTERPRETATION : Most respondents rate 10 about 24 % to order delivery

Q8. How satisfied are you with the customer support ?

Table 5.8 :

Attribute No. of Respondents %

s
1 0 0
2 3 6
3 0 0
4 1 2
5 3 6
6 9 18
7 6 12 Graph 5.8 :
8 6 12 35
9 9 18
10 13 26
TOTAL 50 100
INTERPRETATION :
Most respondent are satisfied with the customer support

Q9. Would you recommend our product / service to other people ?

Table 5.9 :

Attributes No. of Respondent %

Definitely 27 46
Probably 23 54
Total 50 100

Graph 5.9 :

36
INTERPRETATION :

54% respondent says that they will DEFINITELY promote our product.

Q10. Do you want to be in our mailing / SMS list for promotion, offer and events?
Table 5.10 :

No. of
Attributes respondents %
Yes 34 32

No 16 68

37
 Total 50 100

Graph 5.10 :

INTERPRETATION :

customers want mail and SMS’s 0ver 65% according to the respondents.

Q11. Does their employee follow covid protocols?

Table 5.11 :

Attributes No. of %
Respondent
Yes 42 84
Sometime 8 16
Total 50 100

38
Graph 5.11 :

INTERPRETATION :

Covid protocol is followed by Lenskart 84% according to the respondents.

39
.

CHAPTER 6

FINDINGS

40
Based on collected data:

 More than 90% are satisfied with lenskart.

 More than 84% are satisfied with space available in lenskart.

 More than 84% are satisfied with maintenance cost.

 More than 40% (Fantastic) towards general perception.

 More than 60% are satisfied with the comprehensiveness of our offer.

 More than 48% are highly satisfied with our pricing.

 More than 58% are satisfied with the timeliness of order delivery.

 More than 55% are satisfied with customer service.

 More than 54% customer will recommend our service / product to other people.

 More than 68% customer want to be in our mailing/ SMS list for promotion , offer, events.

 More than 84% our staff member follows the covid protocols

As we all known Lenskart is a E-commerce business when it started but now it also deals in
physicals forms also so, it is very difficult see the where the trends going because in this kind
of product you need a physical touch before buying the product. But new generation are only
on internet so, they use to prefer online shoping.

41
CHAPTER 7

SUGGESTION

42
SUGGESTIONS RECEIVED FROM THE RESPONDENTS OF THE
QUESTIONNAIRE:

The fear of purchasing online by using a credit card would be reduced if the companies and different
banks collaborate and the banks maintain online accounts directly.
 To boost the confidence of the existing and new online shoppers, the government should
provide adequate legal frame works to ensure strengthen measures are taken against people
who indulge in online fraud
 Most of the people other than students are not having awareness about online shopping; the
website merchant should take steps to create awareness among the public.
 The online seller has to take maximum effort to offer the products with competitive price
because the price of the product plays a big role in purchase decision.
 The online shopping website must be made known to consumers through different methods of
advertisements.
 The customers prefer the cash on delivery to make payment for their lenskart shopping but
some of the products are not coming with cash on delivery option. To improve the
effectiveness of online shopping this issue must be addressed.
 Considerable number of respondents facing some problems while shopping in online. This
problem should be carefully observed, analysed an settled.

43
CHAPTER 8

CONCLUSION

44
In this competitive world, consumers have many options to select brand their perception in online
shopping increases day by day as they are becoming familiar with the online e-commerce websites and
choose between the so many competitors that we need to understand their preference and offer
products accordingly. While buying Lenskart products customer need to clear all aspects of the brand
it can be anything quality, pricing, services etc.
In this study, it is clear that services offered by the company makes difference in selecting a brand
from the pool of competition. Online product offering needs a clear image of the product which
attracts more consumers. Lenskart products attract many consumers in that majority of consumers are
female and their product selection is based on the Lenskart services as they offer different unique kind
of features to the customers so they can choose between the multiple products. Online shopping is the
platform where trust-building is tough because today many frauds happening around so building
customer trust is so much important and for that company provide the best services to build trust.
People becoming familiar with an online purchase and aware of the online market and brands that
offer this kind of services. This study result that consumer prefers both online and offline mode of
purchasing Lenskart products and most of them prefer online because people don't want to step out in
this covid situation and they are familiar with the products and services of optical brands so they feel
safe in online buying and in that Lenskart gives them best offering.

Many retail shop owners lose their market because of the online services of optical brands only those
who don't know about online buying will prefer offline retail owners. Peoples trust in e-commerce
sites increasing and people happy to buy things online.

45
LIMITATION OF STUDY

Certain limitations are inherent with this project work.

• 100% response rate was not found from the respondents.

• Some extent of biasness was found because of Brand loyalty while answering the
questions.

• Lack of interest of the respondent was one of the major problems.

• The time duration of the project acted as another impediment and so the size of the survey
was limited to 50 respondents only.

ANNEXTURE
I. Bibliography
46
  Journals :

Gupta, S.P., Statistical Methods, Sultan Chand & Sons Publisher, Third Edition,2011
 Kothari, C.R., Research Methodology-Methods & Techniques, New Delhi, age
International (P) Ltd., Publisher, Second edition,2009
 Varma Agarwal., Marketing research, Forward Book Dept, 2010.
 Kotler Philip., Marketing Management, PHI Pvt Ltd., New Delhi, 2009
 Ashish Bhatt (2014), “Consumer Attitude towards Online Shopping in Selected
Regions of Gujarat”, Journal of Marketing Management, Vol. 2(2) pp. 29-56.

 Websites :

• www.wikipedia.com

• ww.lenskart.com

• www.wordstream.com

• www.journals.sagepub.com

• www.investopida.com

II. QUESTIONNAIRE

47
 NAME:
EMAIL:

1) Are you a satisfied with lenskart ?*

Yes
No

2) Are you satisfied with space available in Lenskart ?*

yes
No

3) Are you satisfied with Maintenance cost?*

Yes
No

4) Your general perception about Lenskart*

GOOD
VERY GOOD
FANTASTIC

5) How Satisfied are you with the comprehensiveness of our offer?*

1
2
3
4
5
6
7
8
9
10

48
6) How would you rate our prices?*

GOOD
FAIR
VERY GOOD
Decent

7) How satisfied are you with the timeliness of order delivery?*

1
2
3
4
5
6
7
8
9
10
8) How Satisfied are you with the customer support?*
1
2
3
4
5
6
7
8
9
10

9) Would you recommend our product / service to other people?*

Definitely

49
probably

10) Do you want to be in our mailing / SMS list for promotion,offer and
events?*

Yes

No

11) Does their employee follow covid protocols?

Yes

Sometime

50