Business Proposal Assigment

Student: Yulia Mindubaeva Instructor: Theresa Albury Course Title: COM3112 31 March 2020

Business Proposal Assignment

Online Shopping is a Better Experience Than In-Store Business Background Warby Parker, now under Giboa’s administration, specializes in selling eyewear through the in-store purchase method. As the current strategy stands, the CEO prefers the technique over online purchasing for several reasons. For instance, the firm holds that in-store purchase is a unique trend as it differs from many other eyewear stores who go for online selling. Further, the in-store business presents endless opportunities that online platforms cannot offer. As an example, the method offers consumers a chance to buy or order multiple products, an opportunity that Warby Parker feels On-line trade limits.  Unlike the online business, which fails to accommodate customer preference in trying the frames on before purchasing, in-Store purchasing offers the opportunity. From the advantage, the consumer can spend as much time as they wish with the frames before they decide which pair to order. According to Warby's current strategy, it is advantageous for consumers to spend the extra time since they can get product opinions from friends and relatives. The company feels that the advantage is inapplicable through the online ordering of eyewear.  Solution  As a business in the 21st century, Warby Parker faces a considerable risk by the sole capitalization of in-Store business rather than considering an online business. Therefore, Mr. Gilboa should change the company's mindset that online business is redundant before sensitizing other stakeholders for the need for change. E-Commerce is not monotonous, despite many businesses turning to the platform. Each business is unique, depending on how it crafts the online platform towards its unique commerce and consumer preferences. Considering the factor, Mr. Gilboa could consider taking time to incorporate consumer preferences and the unique business features in the future model in ways that set it apart from competing brands.  The use of technology in E-Commerce is the way-to-go at present as its benefits are incomparable to physical stores. Also, the business can consider trying a merge of the two business models but with more interest in the E-Commerce platform. Since most of the present-day consumers might have already adopted the in-store shopping, Warby Parker could consider sensitizing them on the need for a shift towards online business before the shift.   Recommendation  Since Warby has a culture of in-store shopping, it would be better if the CEO considered incorporating technology into the brand's business. Change, such as technological shift, in the 21st century is inevitable, in particular for brands that intend to maximize their profits in the market (Arli et al. 170). Mr. Gilboa should consider the two most practical options for a healthier business environment by opting to settle for a total change to E-Commerce and specialize through online platforms. As an alternative, the company can consider a mixed-method approach by retaining the in-store shopping and developing an online platform that sells the eyewear also through online platforms. The second approach will have a physical store as a storage facility for the E-Commerce business. For maximum profits in online shopping, the company can first talk to their consumers regarding features they would like incorporated.  Also, the platform should be inclusive to allow for customers to share their experience and ratings for the online business.  In contemporary business contexts, it would be best for Warby Parker to consider the shift since a considerable number of clients interested in eyewear consider online searches before deciding on whether to go to physical stores (Transaction n.p).  After finding the product they seek and are guaranteed of quality services, the customer can then opt to purchase the product online or make their way to the office. As an outcome, stores that offer reputable services and demonstrate the same, such as through reviews, attract more customers than In-store businesses.  Warby Parker should also consider shifting its business to incorporate online platforms since, through E-Commerce, the consumer saves a lot of their time and effort, which is impossible in the case of in-store purchases. In the current business environment, customers spend much time going to the store, and as the company believes, the buyers spend much time trying different frames. However, online platforms such as apps are worth considering since eyewear consumers can search for their preferred products by browsing various products that the store offers but within a short time. Also, through the search results, the consumers can ask for the opinions of those close to them. Unlike in-store purchasing, which requires the consumer to go to the store to view available products, the consumer can search from their comfort. Furthermore, the firm should consider prioritizing the sale of outstanding frames for superb lenses as a way of staying above the competitors.  The sole consideration of quality and advancement of glasses will be insufficient as the first impression of online products determines the consumer level of interest in the product. Therefore, it would be critical for the business to consider offering consumers exciting and appealing eyewear products as they would consider it over quality. Also, the business should be looking into online rival brands strategies aiming at filling gaps left by the competitors in the purposed online business. 

Works Cited Arli, Denni, Carlos Bauer, and Robert W. Palmatier. "Relational selling: Past, present, and future." Industrial Marketing Management 69 (2018): 169-184. Transaction. "81% Of Shoppers Research Their Product Online Before Purchasing - Transaction | An Ecommerce Agency". Transaction | An Ecommerce Agency, 2019, https://transaction.agency/ecommerce-statistics/81-of-shoppers-research-their-product-online-before-purchasing/. Accessed 31 Mar 2020.