How Backend Visibility Helped This DTC Brand See New Growth

Leadership Strategy How Backend Visibility Helped This DTC Brand See New Growth Gary Drenik Contributor Opinions expressed by Forbes Contributors are their own. Following New! Follow this author to stay notified about their latest stories. Got it! Oct 25, 2022, 10:00am EDT | New! Click on the conversation bubble to join the conversation Got it! Share to Facebook Share to Twitter Share to Linkedin Woman Viewing Computer Screens At Work AdobeStock_302183305 Screen time has rapidly accelerated in recent years due to increased remote work, virtual learning, digital entertainment, and mobile connectivity.

A recent Prosper Insights & Analytics survey found that about 24% of individuals over the age of 18 years old wear corrective lenses (eyeglasses or contact lenses). Prosper – Health Related Conditions Prosper Insights & Analytics To prevent eye damage and strain, blue light blocking frames have become increasingly popular. Zenni , a leading online eyewear retailer, addresses this demand with its Blokz blue light blocking lenses that have become increasingly popular among consumers who find themselves in front of screens more frequently.

Since launching in 2003, Zenni has grown rapidly from a San Francisco Bay area startup to a leader in affordable eyewear – selling more than 50 million pairs of glasses worldwide. I had the chance to sit down with Zenni’s vice president of finance, Erin Stryker, to learn more about how the company has implemented technology to address rapid growth, increase business visibility, improve customer experience, and respond to industry challenges. Gary Drenik: Can you tell me about your background and your role at Zenni? Erin Stryker: In my role, I process financial data and analyze the company’s profit margins to identify opportunities for growth.

While Zenni has been in business nearly 20 years, we still operate like a nimble startup with quick pivots based on evolving consumer demand. Our goal is to provide affordable, high-quality frames and top-of-the-line lenses. Therefore, it’s important for my team to remain agile to ensure a balance between business profitability and consumer affordability.

MORE FOR YOU They Inherited Billions Upon Billions: Meet America’s Richest Heirs The Best And Worst MCU Movies And Shows, Combining Critic And Audience Scores Hyatt Debuts New Brand—Caption By Hyatt—In Memphis Drenik: As a direct-to-consumer retailer, you’ve observed consumer behavior shifts in recent years. What has been most striking? How has Zenni been able to keep pace? Stryker: In recent years, we’ve seen a significant increase in online shopping and growing demand for convenience. At the same time, some consumers are spending less and looking for savings.

All these changes impact our business, but they also help position us for growth. For example, despite pandemic challenges, Zenni sold more than seven million frames in 2020. Our direct-to-consumer business model allows us to remove intermediaries and make our product more affordable without sacrificing quality.

As our business continues to grow, technology also plays an important role in keeping pace with change and increasing efficiency. Drenik: What role does technology and data visibility play in navigating global expansion and sales growth? Stryker: As we’ve expanded our product lines, manufacturing and inventory processes have become much more complex. Both technology and data-driven insights are critical for us to increase productivity and remain competitive.

However, we quickly outgrew our previous software systems and needed a better solution to improve backend visibility and increase productivity. Today, we use NetSuite’s cloud enterprise resource planning (ERP) system to consolidate and automate our financial and accounting operations. With one system for accounts payable, accounts receivable, budgeting, and reporting, we’re able to ensure consistent and compliant processes as we grow our global footprint.

This transition also helped us increase efficiency and enabled us to close our books 50 percent faster. Drenik: As a leader in affordable eyewear, what types of metrics and reporting are most important for maintaining competitive pricing? Stryker: Market insights are important for us to maintain competitive pricing. Today, we have offerings for prescription pairs starting at just $6.

95 and averaging just over $40. While our offerings and operations are expanding, we must also balance industry challenges such as supply chain disruption and inflation. Our ERP system allows us to easily view metrics including spending, profit, inventory, budgets, and forecasts in one place.

This allows us to better understand our spending and adapt as needed. These insights also help guide decision-making when we introduce new product lines, open manufacturing facilities, and expand regional availability. Drenik: Zenni has over 3,000 styles for customers to choose from, how does this impact inventory management? Stryker: We offer the largest selection of affordable glasses online, including prescription glasses and sunglasses for men, women, and kids.

Every day our factory sends out up to 25,000 pairs of prescription eyeglasses to more than eighty countries in the world. To streamline operations, we’ve began to explore NetSuite’s capabilities for inventory and warehouse management. These features can help us guarantee product availability, uphold our commitment to timely deliveries, and ensure our customers receive the best experience.

Drenik: What is next for Zenni? What are your priorities for growth in the next year? Stryker: We’re always looking for new ways to reach our customers and empower them to express their personal style with eyewear. A recent Prosper Insights & Analytics survey found that over 17% of Gen-Z consumers are influenced to purchase health and beauty products from celebrity bloggers and influencers. At Zenni, we’ve tapped into the power of influencers to inform and launch new product lines.

For example, we’ve partnered with celebrities, influencers, and notable organizations such as Iris Apfel, David Ortiz, and Call of Duty League collections. You can expect more partnerships in the year ahead across traditional sports, gaming, and fashion. Prosper – Media Influence For Beauty Product Purchases Prosper Insights & Analytics Social and environmental impact is another priority for Zenni.

We recently released a collection of sustainable glasses made with 100 percent certified recycled post-consumer plastic. There are eight Zenni frames in total, each inspired by different seas around the world. As we continue to grow, we will look to find more creative ways to give back to our planet, team, partners, and loyal customers.

Drenik: Thanks Erin, for your insights on how Zenni has implemented technology to address rapid growth, increase business visibility, and improve customer experience. It was great learning about how Zenni has been able to respond to industry challenges while always prioritizing the customer. Check out my website .

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