'The category will continue to grow': EyeBuyDirect CEO Sunny Jiang on staying competitive with Warby Parker

Modern Retail Podcast · with Sunny Jiang · August 11, 2022 · 33 min

Summary

EyeBuyDirect CEO Sunny Jiang reveals how their direct-to-consumer model, focusing on in-house manufacturing and logistics, allows them to offer highly affordable eyewear and compete in a crowded market. Ecommerce operators can learn from their approach to cost efficiency, strategic rebranding, and nuanced influencer marketing to drive market share growth.

Key takeaways

• Implement a fully integrated, direct-to-consumer (DTC) operational model to control costs and pass savings to customers, thereby gaining a competitive edge through affordability.
• Don't just focus on influencer follower count; prioritize engagement and audience alignment to ensure marketing spend translates into meaningful customer response and conversions.
• Conduct thorough competitive analysis to identify market share opportunities, even in seemingly saturated categories, and build a strategic five-year plan around these growth areas.
• Proactively rebrand and refine your company's purpose to ensure clear market positioning and to stay relevant in a dynamic competitive landscape.
• Continuously improve customer service and delivery speed as part of a long-term growth strategy to meet evolving customer expectations and strengthen brand loyalty.

Themes

Topics covered

Episode description

The eyeglasses industry is very competitive, but EyeBuyDirect is focused on cornering the market via affordability. The EssilorLuxotica-owned company has been around since 2005 and its primary focus has been on value: a pair of frames from EyeBuyDirect can be as cheap as $6. This week on the Modern Retail Podcast, CEO Sunny Jiang spoke about the company's trajectory and how she's been steering the ship. Jiang has been at EyeBuyDirect for 15 years -- she first took a job there when she was fresh out of university as a finance controller. She's risen the ranks ever since, going from operations director to general manager and then ultimately becoming CEO in 2017. "Since I've become CEO the company has grown nearly 300%," she said. EyeBuyDirect was one of the first online-only glasses players. Though Zenni is a few years older, Warby Parker is much younger. And, according to Jiang, the way the company is able to sell glasses so cheaply is because of its business model. "we manage everything from the beginning to the end," she said. This includes manufacturing, logistics, even returns. "This allows us to have the ability or possibility to forward a lot of profitability directly to customers." When EyeBuyDirect first launched, there were hardly any digital competitors out there. Now, the playing field is a lot more intense, thanks to leaders like Warby Parker and America's Best. Over the last two years specifically, Jiang said that a number of competitors have also been upping their digital games. Still, she's confident that the company can continue to grow. According to her own competitive analysis, the top three or four eyeglass players only account for about half of the market. To her, that means she can continue taking market share and finding new customers. To do that, EyeBuyDirect recently underwent a rebrand, upgrading the look of the website and the company's marketing materials -- including its logo, fonts and overall imagery. On the program, Jiang described the

Frequently asked about this episode

What does this episode say about brand management?

Implement a fully integrated, direct-to-consumer (DTC) operational model to control costs and pass savings to customers, thereby gaining a competitive edge through affordability.

What does this episode say about competitive advantage?

Don't just focus on influencer follower count; prioritize engagement and audience alignment to ensure marketing spend translates into meaningful customer response and conversions.

What does this episode say about dtc strategy?

Conduct thorough competitive analysis to identify market share opportunities, even in seemingly saturated categories, and build a strategic five-year plan around these growth areas.

What does this episode say about influencer marketing?

Proactively rebrand and refine your company's purpose to ensure clear market positioning and to stay relevant in a dynamic competitive landscape.

What does this episode say about brand management?

Continuously improve customer service and delivery speed as part of a long-term growth strategy to meet evolving customer expectations and strengthen brand loyalty.

Listen

Listen on Spotify Listen on Apple Podcasts Show website