Direct and indirect competitors

In addition to being present in Canada, Bailey Nelson was founded in Australia (Jain et al., 2017). The store is committed to providing the high-quality eyewear or contact lenses that have been recommended via the internet platform. There are rivals as well, with our group's lifestyles at Sunglass Hut and Opsmm in the country being two important ones. These are rivals in both direct and indirect ways. The merchants also use a number of brands, including Chanel, Specsavers, Burberry, and Chanel. With Nelson Bailey from the UK, they are organising the bridge competition.

Similar to that, Guzman Y Gomez, another Australian store, is luring important investors as well. It is important to acknowledge and emphasise that businesses are moving toward the use of technology that is more advantageous to users, despite the fact that the company faces greater competition. Everyone uses social media in the modern world to stay informed or to download apps that let them shop. In places where customers need to buy goods and receive top-notch services, even grocery apps are available.

In this regard, trials of the products, such as contact lenses or eyeglasses, are now provided so that clients may virtually try them on before choosing one of the options. The firm's efforts to create an augmented reality app that no other company can use to virtually try on contact lenses before buying them are currently facing more competition than they can handle. Everyone who wears sunglasses or contact lenses needs to give them a try in order to decide whether they need them and whether to purchase them.

3D visualisation and augmented reality

The availability of virtual try through 3D visualisation and augmented reality has satisfied the needs and desires of the majority of consumers who do not have much time to go for the trial of various options of sunglasses or contact lenses (Chen et al., 2019). Everyone in this busy world is preoccupied with their careers and personal lives, so there is obviously no time to go shopping for items like contact lenses or glasses. Because of this, most customers of these products rely on social media or the recommendations of their friends when making their purchases. However, customers with limited time to shop now have a reliable alternative thanks to the availability of virtual try-on via the Apple iOS platform.

Users can now test a product on this platform while seated at home or at work before making a purchase. Therefore, using augmented reality and 3D visualisation as a concept is a successful step in the direction of the company's long-term success and goodwill. Therefore, the idea may compete on a larger scale regardless of the size of the company competitors. The idea was implemented, and the company's sales volume increased by 600% as a result, showing a significant improvement in the firm's profitability and goodwill.

It shows that the bialey nelson is currently moving in the right direction to build customer trust and profitability. If customers have a closer relationship with the business or brand, it will be easier for the company to understand their needs and wants, and to build the necessary plans or implement the required digital platforms.

Bailey Nelson-Areas that need to be improved

Bailey Nelson is making good progress toward its goal of enabling customers to virtually try on clothing. Due to this opportunity, they have the chance to try out a variety of eyewear-related products. However, the company is moving forward with the efficient use of the online platform where it is offering customers the choice to try on virtual items. However, in order to move forward with the implementation of its plans and strategies in a way that would guarantee its long-term viability, the organisation must have the necessary batteries.

requesting that the planning recommendation be changed to favour better planning. It is a fact that every company needs a sustaining concept to be successful. Any business that is not market-sustainable will not be able to sustain profits and goodwill among stakeholders, particularly customers. The company is currently operating without many clients or a sizable clientele, but it is increasing revenues by 600% thus far. However, in order to move toward greater sustainability, the firm needs to improve the business structure and size.

Focus on Going Concern Concept

Bailey Nelson is connected to the notion of the company continuing as-is. The idea of a business as a "going concern" is based on the idea that the company is not dependent on its owner or anyone else, but rather on the activities and operations that could produce the company's profitability and goodwill. Unquestionably, the business will prosper if it can continue to attract a sizable clientele and provide them with better services.

Although it is explicitly stated that the company has rivals, those rivals are both substantial and important market players. Businesses that are not currently taking such steps to increase client volume by 600% must get ready to be competitive enough in the market to attract customers. The company should proceed with the strategy to go for the execution of the business, which is now more authentic and reachable for the customers, without further delay.

Several social media platforms exist in Australia, Canada, Germany, the United Kingdom, and New Zealand where you can place online orders and have them delivered right to your door. However, Bailey Nelson will now need to grow in size and work on both real-world and virtual platforms. The business must have physical storefronts where customers can go and interact with the products in a similar way to how they do on social media websites.

In-store Shopping Option

Consumers cannot be judged by the company's management or owner. It is impossible to say whether every customer prefers online shopping and uses social media. Even though online shopping and e-commerce are options, most customers still favour going to stores in person because they can physically see and touch the items and make a purchase decision. People's daily schedules and routines are hectic. People should go out with friends and family with the intention of shopping and having fun. Considering the organization's need for business expansion as well as the demand for physical locations in other countries.

With the expansion of physical outlets, the company would be able to provide customers with better services and upgraded offerings as well as draw in new customers.

Implementation of Augmented Reality AR and 3D visualization – In store

For customers who physically visit the stores, it is also advisable to include the ability for augmented reality and 3D visualisation. Customers who are potential customers must have the option to use their Android iOS iPhones and iPads in-store to test out augmented reality and 3D visualisation for free.

Of course, in order to conduct business using an online platform, an iPhone or iPad is required. The online visual trial, however, will be unavailable to those without an iPhone or a paid subscription. It is also necessary to have physical locations where customers can go to conduct non-virtual visual testing. However, it will be done in two ways: the company will offer free trials using any available Apple devices, and customers who are in the locations will also participate.

The main piece of advice is to keep moving forward with the plan's implementation, work to enhance business processes, and provide more options and services to consumers. The company will be better able to compete with other companies in the market once it can increase its size and product offerings. It is that, in the technological era, every business is moving toward using technology as a tactic and as an alternative to what their competitors are doing.

As a result, the idea to incorporate augmented reality and 3D visualisation into the eyewear was implemented before other competitors once more had the upper hand. As the current customer base grows, it is critical to pursue the metrics required for the company to endure and develop. Consumer confidence in the product is currently growing, and customers are starting to refer it to others. It is the reason for the increase in customers who come to place orders for products and visitors. Through the budget strategy, customers will be encouraged to comprehend the company's commitment to them.

Marketing Campaign

A marketing campaign's objective is to inform customers of the important steps the company has taken to advance its business. Any business that wants to succeed needs to have a solid relationship with its clients. If a company has excellent customer relationship building, it will be advantageous for the business to flourish over the long term and achieve profitability.

Despite the fact that many eyewear companies are successful, Bailey Nelson needs to establish a relationship with the customer. These kinds of decisions will benefit the company, but if the company is moving in the right direction for its marketing strategy, it will demonstrate to its customers that it is more concerned with them. And in order to provide customers with better amenities, it is currently moving on to the next stage.

As a result, consumer trust in the brand will increase right away, boosting profitability and drawing in more investors. The business was started with $80,000, as previously mentioned, and the owners did not ask for any outside help. It is imperative to take action in the direction of their service and size expansion. The company needs a loan or investors because investors are drawn to businesses that are currently on the path to enormous profitability.

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