Ethical Vision In Selling Glasses
Warby parker charges incredibly fair prices for its eyewear. Despite it being an international giant eyewear firm with 100 retail locations and being valued at over $1.75 billion, the company does not leverage it to set exorbitant pricing. This demonstrates Warby Parker’s pricing ethics that differ from its competitor, monopolizing the market and setting steep prices. Warby Parker’s use of ethical pricing strategies to sell their products and earn profit have earned it more respect in the eye of the consumers and the general public. Affordability has been the company’s main selling point to the public. The company also adopted integrity as one of its main cornerstones, and this was the belief that drove them to partner with Visionspring, a charity organization. This was a demonstration that the company was ethically responsible, and it upheld honesty, respect, and transparency in its dealings.
How Warby Parker Integrates Social Responsibility into its Business
The organization engages in philanthropy by partnering with Visionspring, a charity that provides quality eyeglasses to those in need in developing countries. The company is aware of just how vital eyewear is to people who are visually impaired. Its business model has also helped in advancing entrepreneurship opportunities and economic development across the world. The company’s strategy also involved designing and manufacturing glasses in-house and selling on the internet. This strategy greatly saved costs to the company, and this is passed on to the consumer in the form of cheaper eyewear.
Why Warby Parker Charges $4 To Those in Need of Eyeglasses in Developing Countries
Charging $4 allows the company to encourage economic growth. When Visionspring trains local women to be entrepreneurs and sell the glasses at $4 to tradespeople, the women become employed. From the employment, the women get wages that they can use to support their families and the general community. On the other hand, tradespeople are estimated to increase their productivity by 35 percent and their earning power by 20%. This is a demonstration of the company’s role in spurring economic opportunities and growth.