A direct-to-consumer omnichannel retailer, Lenskart, is one of the fastest-growing e-commerce-led eyewear retail chains in the world. It has over 1,100 stores in India and a growing presence in East Asia, Southeast Asia, the Middle East, and the US.
Lenskart aims at giving a clearer vision to 1 billion people globally from children to adults. Its eyewear range offers a variety of lifestyle extensions and unique identities for athletes, working professionals, artists, support workers etc.
AI, analytics, and data science underpin all aspects of Lenskart’s business value chain. The business is backed by strong data analytics starting from customer experience, store operations, merchandising, manufacturing and supply chain, sales and marketing, as well as business performance monitoring.
Lenskart was looking at bringing data-driven intelligence into the hands of users across business functions. Since all stakeholders did not have a math and statistics background, the retailer sought to convert analytics into simplified visual insights using easy and intuitive visualization tools.
Lenskart implemented a full stack solution from data engineering, analytics, and visualization. For the visualization layer, it partnered with Microsoft to implement Power BI to convert analytics into visual insights that deliver actionable insights to stakeholders across the value chain.
With the lines of digital and physical purchases getting blurred, Lenskart created an omnichannel experience that allows customers to purchase from offline stores, online (apps and websites), marketplaces, over chat/calls, home try-ons, and pharmacies without friction. This made it easy for customers to discover, browse and purchase from any platform. Lenskart uses data science and analytics to make informed decisions based on data collected from different sources. Some of the key business areas where Lenskart uses data science and analytics are listed below
With 1000+ stores across India, Southeast Asia, and the Middle East, Lenskart leverages AI driven technology channeled through Power BI to provide actionable insights. This has enabled improved efficiency, increased sales, and security at retail storefronts with minimal manual intervention and zero room for error. Some of the use cases include:
At the core of Lenskart’s omnichannel business model is its strong online presence across desktop, mobile, and app.
Lenskart’s product and online teams rely on strong digital analytics to product journeys, customer behavior patterns, conversion to decrypt customers’ implicit behavior and preferences.
This enables Lenskart to create visibility of a user journey across the digital platform and analyze the touch points involved. In turn, this increases the conversion using Power BI.
Lenskart’s direct to customer backbone is its manufacturing process, enabled by a world-class plant. Currently, the retailer ships an order every two seconds.
The supply chain data and analytics play a key role in enabling efficiency in the following areas:
Lenskart has a cloud first-solution approach. Data analysis has contributed significantly in increasing efficiencies across functions at Lenskart. This includes digital and e-commerce, customer experience and supply chain to achieve rapid and sustainable growth in sales.
Looking ahead, Lenskart strives to expand aggressively in tier I and II cities across the country by setting up 25 brick-and-mortar stores a month and strengthening its hold in the market. To widen its reach further, it is looking at bringing an ‘AI Lens’ into capturing customer footfalls as it strives to deliver on its values of customer centricity and customer obsession.
Across this journey, Microsoft continues to work closely with Lenskart to unlock meaningful insights and transform customer data into new opportunities.
“The key to democratizing data across organizations is to make data science simple, actionable, and easy to understand. Power BI with its strong data assimilation and visualization power, has enabled Lenskart in building a strong data-first culture by making data and analytics available along the entire value chain,”
Saurabh Agrawal, Senior Vice President – Analytics & CRM, Lenskart
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