Warby Parker whips up its 2nd ever product: Contact lenses
"The Warby Parker of Warby Parker"... is Warby Parker. The OG direct-to-consumer brand basically created the cut-out-the-middleman digital-first concept 9.5 years ago with eyeglasses. Then it noticed something: 40% of its customers also wear contact lenses. So it's launching Scout, its own brand of contact lenses.
Close one eye and read the letters on the chart... If you're still squinting to understand why Warby created Scout, just look at the prices — they un-blur the broader strategy:
- $95 = typical Warby glasses
- 2 years = the average amount of time before most Americans replace their glasses
- $110 = a 3-month supply of Scout contact lenses (delivered to your door, of course).
- 3 months = that's how often Warby lens customers will pay up for refills — which is $440 for Warby every year.
We're calling this the "Sequel Strategy"... and we noticed it's trending with Warby's fellow direct-to-consumer unicorns. With a Sequel Strategy, companies spinoff their 1st long-lasting product with new shorter-term ones to snag consistent revenue from the same customers. Here's who's doing it:
- Warby sells you glasses every 2 years — but you buy Scout lenses in between.
- Casper sells you a mattress every ~10 years — but you buy its new sheets and pillows in between.
- Allbirds sells you shoes every ~2 years — but you buy its new socks (you get the picture) in between.