At an optical store, designer frames with nice lenses will run you over $500 a pair.
This is false. Designer frames (Gucci, Nike, Kate Spade, Prodesign) retail around $120-$240. (I think? I'm going from memory here...) Lens pricing varies based on your prescription and options (transitions, AR, scratch coat, etc). Single vision wearers can easily get designer glasses w/ integrated anti-reflective for under $300 retail. At my optician that includes a 2 year warranty. Also my insurance knocks that down quite a bit. Since Warby only does single vision lenses, $300 would have been a more appropriate ballpark than $500. Lens price can jump up quite a bit if your prescription requires certain materials (e.g. high-index lenses) and it jumps up a lot when you get into progressives, etc.
Also, I can't remember ever purchasing glasses and not having them adjusted to my face when they arrive. I guess you can take your Warby glasses into your regular optometrist and have them adjusted but that feels a little like taking your Burger King cup to get free refills at McDonalds.
you're going to be choosing from the same frames as any person who lives in your area.
This is so much of a non issue that it is kind of weird to even mention it.
This is a market where sales channels are fragmented and undifferentiated. The product being sold is either the equivalent of the "CVS store brand" or has the prices inflated two-fold.
I assume he's talking about optical chains here? (Lens Crafters, etc.) Anyone want to guess what Warby's materials markup is? Cost x 2 seems like a reasonable guess.
Brick-and-mortar stores are expensive to maintain, inevitably adding a lot to the price of every product, but bring little value to the customer, except the ability to try on glasses.
I guess he's referring to optical centers that only sell glasses? I don't recommend going to those places, either.
Anyways... Warby looks good for people with simple prescriptions who don't have insurance. Really, it is just cheaper designer knock-off frames and low to medium grade lenses with really good customer service. A good business model, yes. Earth-shattering value and disruption? No. Most people will continue to buy at their doc's office.
This is false. Designer frames (Gucci, Nike, Kate Spade, Prodesign) retail around $120-$240. (I think? I'm going from memory here...) Lens pricing varies based on your prescription and options (transitions, AR, scratch coat, etc). Single vision wearers can easily get designer glasses w/ integrated anti-reflective for under $300 retail. At my optician that includes a 2 year warranty. Also my insurance knocks that down quite a bit. Since Warby only does single vision lenses, $300 would have been a more appropriate ballpark than $500. Lens price can jump up quite a bit if your prescription requires certain materials (e.g. high-index lenses) and it jumps up a lot when you get into progressives, etc.
Also, I can't remember ever purchasing glasses and not having them adjusted to my face when they arrive. I guess you can take your Warby glasses into your regular optometrist and have them adjusted but that feels a little like taking your Burger King cup to get free refills at McDonalds.
you're going to be choosing from the same frames as any person who lives in your area.
This is so much of a non issue that it is kind of weird to even mention it.
This is a market where sales channels are fragmented and undifferentiated. The product being sold is either the equivalent of the "CVS store brand" or has the prices inflated two-fold.
I assume he's talking about optical chains here? (Lens Crafters, etc.) Anyone want to guess what Warby's materials markup is? Cost x 2 seems like a reasonable guess.
Brick-and-mortar stores are expensive to maintain, inevitably adding a lot to the price of every product, but bring little value to the customer, except the ability to try on glasses.
I guess he's referring to optical centers that only sell glasses? I don't recommend going to those places, either.
Anyways... Warby looks good for people with simple prescriptions who don't have insurance. Really, it is just cheaper designer knock-off frames and low to medium grade lenses with really good customer service. A good business model, yes. Earth-shattering value and disruption? No. Most people will continue to buy at their doc's office.