Reader comments for above article in Forbes:
Maria 2 years ago
You’re missing a few facts — such as the cost to run a brick & mortar, and that most optical stores only sell about 15-25 pairs per day… they have to keep an enormous amount of inventory, staff (often with an optician on site), and pay rent and utilities. The margin on the actual product sold may be high when you’re only factoring in the cost of manufacturing and materials, but not when you factor in the cost to run a business.
Warby Parker may be the media darling (and goodness knows you’re all drinking the kool aid), but they have also realized the limitations to an internet model — you can’t have 5 times your sales in inventory to keep up with “at home try ons” — hence the long wait times to try on their most popular frames, up to 3-4 weeks. This is probably whey they’re opening stores in their highest density markets. This will impact their price model over time… just wait.
It sounds like you’re not familiar with the lens technologies that have been occurring over the past decade or more — since you seem to downplay eyeglass technology. Take a look at the patents out there, there are thousands of them. Yes, I know – -Warby Parker has you believing lens technology hasn’t changed since Ben Franklin. They’re wrong. You’re not wearing thick glass lenses anymore. You probably can get a lens to work in any frame you want — this has taken innovation in material science. You should also try to understand the advancements made in progressive lens technology that now allows wearers to have customized progressive lenses (customized or individualized to their own eyes which allow them to see more in focus and have their eyes adapt more easily, there are also special progressives for anti-fatigue and computer use, and, in some markets (Asia), progressives that slow down the progression of myopia in children… oh, sorry, Warby Parker doesn’t offer any of these) and if you’re under 40-years old, it’s probably not something you’re concerned about yet (just wait!). Now take a look at the advancements in coating treatments — anti-fog, anti-smudge, high quality anti-reflectives, better and faster photochromics, etc. — again, most are NOT offered by your young friends at WP.
The real problem we have here is that Warby Parker has changed the narrative by creating a David vs. Goliath story, and the media — too lazy to actually speak to optical professionals and industry execs — laps it up. Until recently, all WP offered were single vision lenses. Yes, those are the most commoditized, lowest technology ones — yes, these are the ones you praise. And, WP relies on your local optician or optometrist to provide services, e.g. eye exams or eyeglass adjustments, for you — often hoping you’ll ask for these services for “free” so they don’t have to figure that into their cost model. It’s pretty easy to build a low cost model if you offer the lowest technology and outsource the value-added services, no isn’t it?
Next time, please do your homework.
