To : Dave Gilboa and Neil Blumenthal, Warby Parker CEOs
From : Matthieu Givernaud, consultant
Subject : How Warby Parker can double its sales volume.
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. * 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.
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