Meta Platforms, Inc. (META.US) and Best Buy (BBY.US) have recently announced a new partnership to establish Meta Lab experience zones in 50 Best Buy stores, allowing consumers to try on and experience Meta's AI-powered smart glasses and VR headsets, including Ray-Ban and Oakley models. The initiative is driven by the finding that 50% of Best Buy customers expressed a desire to physically test Meta's eyewear before making a purchase. Consequently, the Meta Lab zones will launch first in five stores in June, with a planned expansion to more locations throughout the summer and the holiday shopping season.

While this collaboration could potentially affect other eyewear retailers, a Goldman Sachs research team led by analyst Kate McShane concluded that three tracked retailers—National Vision (EYE.US), Warby Parker (WRBY.US), and EssilorLuxottica (ESLOY.US)—all of which sell smart glasses, offer sufficiently differentiated services from the Meta Lab. Therefore, they are not expected to face a material competitive threat from the Best Buy-Meta partnership.

Regarding Warby Parker, which holds a "Buy" rating from Goldman Sachs, the firm believes the Meta-Best Buy deal will further draw market attention to the company's ability to attract customer traffic. This is particularly relevant ahead of Warby Parker's planned launch of its own AI glasses this fall, which is associated with projects involving Google and Samsung Electronics. The analyst team noted, "We do not view this partnership as a risk, as Warby Parker has integrated eye exams and lens customization capabilities, alongside a broad physical store footprint."

Goldman Sachs is also optimistic about EssilorLuxottica, suggesting the partnership will "expand the distribution channel for smart glasses and provide more resources to support consumer education and adoption."

For National Vision, which has a "Neutral" rating from Goldman Sachs, the Ray-Ban Meta glasses are its fastest-selling item. However, the chain offers a "seamless shopping experience" that Best Buy cannot replicate. Furthermore, National Vision already provides similar smart glass demonstrations in its stores and is expanding staff training programs for Meta products.