Warby Parker: Factors Accountable for Success

Factors Accountable for Notable Success: WP had great success very early on; this was due to a variety of factors. One of the main factors that lead to their great success was their low price point. They are much lower when compared to the rest of the market; they offer high quality glasses for only $95. They do this by using nontraditional distribution channels and they engage with their customers directly through their website, which allows them to have limited operating costs. They also offer their customers free shipping and returns as well as a virtual and in home try-on services. It was this amazing customer service that helped increase the customer experience and allowed them to grow their brand quickly.
Another factor that led to this unheard of early success was their unique way of distributing glasses. They distribute their product almost completely online. There are a few storefronts and boutiques where customers can try on the product, but they still must order them online. No other high quality glasses companies worked through the internet to distribute their product, which is a key characteristic that differentiates them from their competition. They also communicate and promote their product greatly through the internet. This is a nontraditional way of getting to customers and has allowed WP to reach the younger target market that they were going for. I think these factors, along with a little bit of luck and good timing, led to WP’s fast success early on.
External Environment: Opportunities and Threats WP is in a very competitive industry. Two companies possess the majority of the market having bought up smaller competitors while also owning a lot of well-known brands. These companies, Luxottica Group and Essilor International, have most of the control in this industry and set their prices for their high quality glasses at an elevated level. They own a variety of brands that include many different price points. Some have very low competitive