As a business owner, it’s unlikely that you’ll have missed the latest ecommerce trend that has taken over the industry – the subscription box.
Once used only to receive a monthly copy of your favourite magazine or newspaper, now you can get almost anything delivered right to your doorstep. Unique subscriptions like organic vegetables, beauty products, coffee, clothes, books and even cheese toasties are all available to be delivered to your door on a regular basis.
Let’s find out a bit more about this revolutionary ecommerce trend…
Why Are They So Successful?
Since 2014, the visitors to subscription company websites have grown by over 800%. Their rise in popularity is remarkable as the products aren’t new, it’s just the way they’re sold to consumers that is. Judging by the variety of goods on offer to sign up for, subscription boxes have succeeded because they demonstrate a new way of selling.
Subscription businesses have adopted mobile ecommerce quickly, launching digitally first, and have enjoyed such success partly due to the rise of ecommerce as a whole.
In addition, consumers love the novelty of subscription boxes. There’s an element of personalisation and expertise involved, which is something that’s important for one in three consumers. The perfect products are handpicked for them each month and delivered right to their door, which is a service that customers will pay for.
Plus, it’s like receiving a little present through the post each month. In an increasingly busy world, what’s wrong with treating yourself to a gift every month?
Is it Cost-Effective for Businesses?
Only about 16% of subscription companies go out of business, which is impressive considering the number of companies within this sector.
This may be because creating monthly subscription boxes can be relatively easy and low-cost, which is perfect for startups. At first, they won’t need to rent an office space or hire employees, all they need is their product, a website and a trusted parcel delivery company to handle their boxes.
Because setting up a subscription box business is so straightforward, there’s now a variety of small and large businesses within the sector. As the appetite for them is still strong, even one-person businesses can succeed if they have a good idea of their niche market.
If you have a unique idea for a business, you may want to consider whether it’ll work as a subscription box first. These businesses are easy and cheap to set up, making them the ideal way to get your brand and your product noticed before you decide to branch out or grow. Who knows where this exciting ecommerce trend could take your business!