Previously we looked at the elaborated marketing strategy of Microsoft, the world’s leading software application provider. Now, let us hop over and look at the elaborated SWOT Analysis of ClearDekho.
Long story short, ClearDekho is providing eyecare solutions and revolutionising the eyewear industry through its amazing eye products. ClearDekho is India’s leading affordable eyewear brand.
Marketing is one of the reasoning behind the company becoming leading in its sector. If you don’t want to make this type of mistake and are interested in learning Digital Marketing then kindly check out Free MasterClass on Digital Marketing 101 by the CEO and Founder of IIDE, Karan Shah.
In this blog, we will cover the strengths, weaknesses, opportunities, and threats surrounding ClearDekho. Before we begin, let us begin by learning about the company, its history, products, services, and financial success.
Cleardekho eyewear Pvt. Ltd. is a company founded in 2016, a startup by two entrepreneurs Saurabh Dayal and Shivi Singh also the CEO of the company. Aiming to provide India with a leading affordable eyewear brand. ClearDekho delivers high-quality affordable eyeglasses to the masses in small towns/cities across India.
ClearDekhob uniquely blends both online & offline shopping experiences to deliver standardised & high quality affordable optical solutions to the consumers. They wanted to organise the optical market/industry in India and across. Differently showcasing the digital technology marketing unique platform providing their services online and offline to consumers.
As the eyewear market is an unorganised sector according to Deloitte research accounting for nearly 75 to 80 per cent of the overall market. ClearDekho is addressing a major gap.
|Founder||Saurabh Dayal and Shivi Singh|
|Origin||Ghaziabad, Uttar Pradesh, India|
|No. of Employees||100-150+|
|Annual Revenue||$567K (2020)|
|Net Income/ Profit||N/A|
Products & Services Offered by ClearDekho
Various services offered by the ClearDekho are:
- Contact lens
Competitors of ClearDekho
Cleardekho competes in the online market and retail market, their close competitors are
- Titan Eyeplus
As now we have a better understanding of ClearDekho, let’s look into the SWOT Analysis of ClearDekho.
SWOT Analysis of ClearDekho
A SWOT analysis identifies a company’s strengths, weaknesses, opportunities, and threats. A proven and true management paradigm that allows ClearDekho to compare its business and performance with competitors and the industry as a whole.
So let us go ahead and first have a glance at the strengths of ClearDekho from the SWOT analysis of ClearDekho.
Strengths of ClearDekho
As one of the leading companies in the industry, ClearDekho. It has numerous strengths that make it stand out in the market. These strengths not only help protect your market share in existing markets but also help you penetrate new markets.
- Strong Footprint: Cleardekho has established its new format known as FOCO (Franchise Owned Company Operated). The company owns is 40+ stores in North India by marking its footprints in cities like Delhi, Ghaziabad, Gurgaon, Haridwar, Faridabad, Noida, Greater Noida, Haridwar, Roorkee, Lucknow, Kanpur, and Jaipur running them successfully and ClearDekho is aiming to open more than 200 stores across 100+ cities.
- Brand Portfolio: Cleardekho has managed to grow with their experienced and determined team, the brand has grown 1300% in just 3 years with 300000+ eyeglasses delivered through 80+ stores across 30+ cities of India.
- Robust Platform: ClearDekho platform uniquely blends both online & offline shopping experiences to deliver standardised & consistent affordable eyewear products and services to the customers.
- Prominent Investors: Many prominent investors are investing in ClearDekho and helping in funding the startup, including Windrose Capital, Samyakth Capital, Yogesh Chaudhary, and Krishnan Akhileswaran of Apollo Hospitals. Recently, ClearDekho raised $4 million in funds which were led by Arora Ventures.
- Highly Passionate Team: Driven by a highly passionate, experienced and determined team, the team strongly believes in working with the ecosystem to empower local optical stores to deliver standardised & high-quality optical products & services to consumers across small towns/cities of India.
- Promising Startup: ClearDekho is a seed and promising startup which will grow eventually in upcoming years. The company is also listed among the top 10 promising and scalable startups in Ghaziabad.
Weaknesses of Titan Watches
- Old Competitors: Largely the number are Small & Medium Enterprises (MSMEs), except for Titan, Lenskart, etc. And of course, the global biggies like Essilor, Bausch & Lomb, Johnson & Johnson, Hoya Corporation, Carl Zeiss, etc are prominently present and will be as they have sustained for many years. Therefore ClearDekho envisions standardising the optical market and products are hard but achievable.
- Organisation Structure: The research shows that 80% of the eyewear market is unorganised which also affects the company in the same sector.
- Right Product Marketing: As every human has a unique pair of eyes, suggesting the right product is most difficult according to the consumer.
- Time Started: Company started in 2016 the company has only 5 years of experience compared to others it has less experience. Other companies like Lenskart are older than ClearDekho. The company needs more experience and more brand awareness.
- Technological Investment: Given the scale of the expansion and the multiple geographic regions in which the company will expand, ClearDekho’s overall integrating processes require more money to be invested in technology. Current investments in technology are not aligned with the company’s vision.
Opportunities for ClearDekho
Opportunities are potential areas for companies to focus on to improve results, increase sales, and ultimately profit.
- Technology Benefits: Technology advantages in the eyewear industry promise advanced lenses with a better vision for customers. Collecting the data of customers, and improving technology and recommendations will improve the company’s performance.
- Internet Users: The number of people using the web, and social media is increasing day by day interacting with consumers online, promoting brands and products is beneficial.
- New Designs & Patterns: As the industry rapidly evolves, the rising popularity of fast fashion among millennials is encouraging eyewear manufacturers to design affordable and attractive eyewear. To attract enthusiasts, coming up with new designs and patterns is the only key.
- Increasing WFH: Due to pandemics, the adoption of eyewear products has increased. People, especially working employees, are spending more time on screens with the implementation of WFH. This has allowed eyewear companies to increase their overall market growth and capture higher sales.
- Eyewear Accessories: While lenses and frames may be ClearDekho’s primary revenue stream, selling eyewear accessories can help. Accessories like eyewear holders, non-prescription sunglasses, etc. could be healthy additions to their stores and have the potential to meet those additional end-of-the-year profit points.
Threats to ClearDekho
Threats are environmental factors that can harm a company’s development. Here are some of ClearDekho’s threats:
- Increasing Competition: Cleardekho is one of the companies in the eyewear industry but many other suppliers are providing the same products. For example, Lenskart is providing the same products and services and is ahead of ClearDekho in terms of total revenue.
- New Entrants: A mow down of new players have entered the market and are gaining market share taking up the market share of existing companies. ClearDekho faces a threat because these new entrants may steal its customers.
- Competitor Technical Advancements: New technological progress by a few competitors within the sector constitute a threat to ClearDekho since customers who are drawn to this new technology may switch to competitors, reducing ClearDekho’s overall market share.
- Staff Misbehaviour: Buying eyewear and sunglasses from premium stores demands delivering a quality experience. A lack of skilled people working in stores or misbehaviour of staff with customers will lose that customer completely.
- Leading Local Stores: Opening a new sunglasses shop nearby an already leading local eyewear store is one obvious threat. Because the store understands the needs of customers in that area and expands the designs and styles preferred by customers. He might also be offering his wares for a lower price because his infrastructure costs are lower than ClearDekho.
This ends our extensive SWOT analysis of ClearDekho. Let us conclude our learning below.
Cleardekho eyewear Pvt. Ltd. is a FOCO established company supplying facilities in the eyewear market. The innovation of the digital transformation brings forth a new outlook. So do resources serving on different platforms having tough competitors with similar resources.
With increasing competition in a new vertical, companies are yet to learn how to fight their own battle by winning over their customers with better marketing efforts. In a changing world where digital marketing is of great importance, being well aware and having hands-on knowledge in the field is a must for all marketing enthusiasts.
If you are looking forward to making your career in digital marketing and are interested in learning more and upskilling, check out IIDE’s 3 Month Advanced Online Digital Marketing Course to know more.
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