Sign up for afaqs! Newsletters
In times when the likes of Lenskart are focussing on promoting their online store, Titan Eyeplus prefers to stick to store promotions. Does it work?
Titan Eyeplus, the eyewear business from Titan Company, launched its latest campaign #FindYourSignatureStyle earlier this month. Featuring the recently brought on-board brand ambassador — Ayushmann Khuranna, the TVC highlights the brand's retail presence and its in-house designed 'Signature collection'. The 45-second film has been conceptualised by Ogilvy, Bangalore — a part of the WPP family.
The 360-degree campaign targets men and women in the 30+ age group. Shalini Gupta, marketing head, Titan Eyeplus, tells us that the idea behind the campaign is to build Titan Eyeplus as a range of affordable and stylish products.
Talking about the unorganised Indian spectacle market she says, “In the last few years, the entrance of new players has made the space more about aggressive pricing, discounts and low price deal offerings. International brands have come in and their play is all about premium quality and consumer experience. The market space has seen a lot of action from both national and international players. And each one of them has tried to align themselves with a set of consumers.”
She further adds, “Also, for a very long time there were various notions attached with wearing glasses. But now people are easier on that front because of the need for vision correction, given the kind of lifestyle we lead.”
We asked her about the competition in the market to which she responds, “We have fragmented competition in the spectacles space. It makes the category more visible and is a two way thing. However, we focus on our consumers… what does our consumer want, how can we add value... rather than on competition.”
Since its launch in the summer of 2007, the brand has featured and highlighted its retail stores in its communication.
These are times when players such as Lenskart are promoting their online presence more.
Commenting on the observation, Gupta shares, “For us, both online and offline is a truly integrated omnispace. We see our 570 stores and online space as one because a lot of joint work happens here. Say for example, you can buy the product online and exchange the same offline.”
“In media outlets that permit, we talk about the online store. Over our digital platform we promote our online store. For a shoot, frankly, you need a physical store,” she says frankly.ds.
As per Grand View Research's September 2019 report on the spectacle market, online distribution channel is expected to expand at the fastest CAGR of 3.2 per cent from 2019 to 2025. Factors such as availability of a wide range of products and attractive discounts are anticipated to drive the segment growth. Online stores provide custom configuration and step-by-step guide to the consumers buying spectacles, lens, and frames online.
However, offline distribution channels held the largest market share of 84.9 per cent in 2018. Rising demand for functional eyewear is anticipated to contribute to the rising number of retail stores. Offline stores such as optical shops and specialty stores offer convenience, customisation, and personal assistance to consumers, which in turn is anticipated to drive this growth.
We asked N. Chandramouli, chief executive officer, Trust Research Advisory, what weaponry can these two brands – Titan Eyeplus and Lensakart (and their likes) — use to compete? He comments, “Eyewear in India has been run by unorganised, small players, with very few established chains such as Himalaya and Lawrence & Mayo. The sector also faced problems of imitation products earlier, making it ideal for both Lenskart and Titan Eyeplus to tap the market, the former with its convenience of online trials and variety, the latter with the confidence that people have in the brand.”
He further adds that Titan and Lenskart have their own brands as well, but because it is a Titan brand extension, Titan Eyeplus commands a better perception in the market. “If Titan were to replicate the convenience of online shopping as well, which includes online trials, with look-and feel shown online as does Lenskart, they would be able to continue to rule the eyewear market. They are already nearly three times the turnover of Lenskart. And unlike Lenskart, they make a net profit per piece sold.”
Commenting on how far the push by Titan Eyeplus for a retail store will work he says, “Lenskart has 80 physical stores — referred to as experience centers — and is now a fully omni-channel eyewear retailer. Most online retailers, where experience is an important aspect before purchase, have begun to adopt the non-channel approach. On the other hand, Titan Eyeplus has over 525 retail stores across 223 locations, even though it started only a decade ago. Titan entered many unorganised sectors starting with watches, jewellery (through Tanishq) and eyewear and brought with it the trust of the Tata brand, thereby transforming these sectors completely.”
Credits:
Agency: Ogilvy, Bangalore
Chief Creative Officer South & South East Asia and Vice-Chairman India, Ogilvy: Sonal Dabral
Chief Creative Officers, Ogilvy South: Kiran Anthony, Mahesh Gharat
Managing Partner, Ogilvy South: Tithi Ghosh
Senior Vice-President, Planning: Anirban Roy
Creative team: Mukesh Kumar, Deepesh Rajani, Harshad Salian, Subir Sen
Strategy & Planning: Siddharth Mohanty
Account Management: Priyank Vaghela, Pranav Hebbar
Production House: Bloom
Director: Harshavardhan Kulkarni
Producer: Raja Tangudu