- Business and strategy
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2. Drive further comparable growth
GrandVision considers comparable growth to be the most sustainable and profitable source of growth, as it leverages its existing operating cost base. The underlying drivers of comparable growth are:
- Volume growth in prescription eyeglasses based on increased store traffic and conversion rates
- Improved value-for-money propositions in exclusive brands, driving volume and gross margin at the same time
- Growth in the sales of contact lenses and sunglasses
- Increased average consumer spend through value-added products and up- and cross-selling
- Transition to an omni-channel approach
- Improvement of customer loyalty
Based on these drivers, GrandVision his pursuing the following strategic initiatives:
Professionalized customer journey: GrandVision has developed a professionalized customer journey. This harmonized concept delivers an improved customer experience, with a focus on higher conversion and customer satisfaction, resulting in greater customer loyalty. The concept includes a clearly structured commercial offering, a transparent product feature and pricing schedule, and an assortment focused on functionality and quality. This customer journey is increasingly supplemented by omni-channel features. For its prescription eyeglasses category, GrandVision predominately targets volume growth and therefore market share growth, also by establishing a price-leading position.
Cross-selling initiatives: Contact lens sales have proven to be a strong driver of customer loyalty due in part to the higher repurchase frequency of disposable contact lenses, and greater opportunities to cross-sell. Market penetration in this category differs considerably between countries. GrandVision is implementing an approach for this category that is comparable to the professionalized customer journey for prescription eyeglasses, which includes a new way of merchandising, presenting and selling contact lenses.
Unlocking sunglass market potential: Sunglasses is an underdeveloped category from an optical perspective, as sunglasses are generally marketed as an accessory or fashion item. To systematically strengthen the sunglass business, the Solaris banner offers customers a complete product range in terms of price depth, brand variety and functionality, ranging from high quality, affordable exclusive brands to well-known non-exclusive fashion brands.
Omni-channel customer journey: GrandVision is pursuing an omni-channel approach by integrating new technologies and applications for customer engagement and interaction, both online and in-store. This is enabled by a seamless technology platform including in-store functionalities and design that can be leveraged and deployed globally. The omni-channel customer journey will help GrandVision to remain aligned to changing customer behaviors and preferences, while further enhancing its customer journey concept and driving comparable growth.