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Online players such as Amazon, Alibaba.com, Lenskart, and Nykaa have started investing in brick-and-mortar stores; offline stores like Max Fashion have made their online presence by launching their websites and apps.
Growth will be aided by several factors including rising internet penetration, drop in data access costs, shift to smart phones, flow of credit to consumers and micro enterprise increase in domestic consumption, affluent middle-class and rising income and
Many eyewear start-ups such as cleardekho, glassic, coolwinks amongst others are changing the eyewear industry forever.
Lenskart is one of the fastest growing retailers in the eye wear category. The company retails about 7000 spectacles on daily basis.
In its quarterly update to the BSE, the company said that the eyewear division is committed to increasing its market share further through aggressive geographical expansion and a calculated foray in eCommerce space.
Online commerce has inherent advantage of know your customer, analytics and personalisation whereas offline retail has advantages of curation, advisory, entertainment and experience.
With much coherent retail and eRetail policies, advancements in FDI norms and rising preference of digital shopping, eCommerce in India is heading towards its unpredictable best.
The model was first incepted by some leading online marketplaces such as UrbanLadder, Lenskart and Caratlane etc., but now it’s been widely picked by eRetailers across the segments of retail including fashion.
The transaction comes three months after it got 400 crore, in a round led by International Finance Corp, the private sector investment arm of the World Bank.
With these offline stores, Myntra is planning to explore the market through its own brands such as Roadster, All About You and HRX.
According to a latest report by Euromonitor International, India is touted to be THE leader in top-ten fastest growing eyewear market during 2016 to 2021 fiscal followed by UAE, Thiland, Malaysia, China and others.
FlipkartDiscount provides several discounted products on its site including fashion accessories to electronics items and directs consumers to various other shopping portals such as Amazon, Snapdeal, Paytm and even Flipkart.