Grooming products, cosmetics, pet stuff, gourmet food samples, and dresses, all in a box. Today, subscription boxes have become quite common and one can easily see these membership boxes delivered to them on the monthly or fortnightly basis. One of the biggest reasons that these subscription boxes are gaining immense popularity among both, retailers and subscribers are the invaluable benefits provided by these. Available at a nominal subscription fee, this little box of goodies offers innumerable business benefits to the retailers. The top 6 of these benefits are listed below:
Businesses dealing online with their customers are required to set up a website, and make recurring expense of its online marketing to ensure a consistent flow of the customers. However, a subscription box service is much cost-efficient to set up, and easy to manage than an eCommerce website. Furthermore, it’s easy to manage and deliver, as the delivery needs to be done periodically.
Subscription Boxes for Different Occasions
The subscription boxes can be set up for different occasions, and can help businesses a great opportunity to reach their customers apart from the regular delivery. For instance, special subscription boxes can be created for valentines day, Christmas, Thanksgiving day and many other occasions.
Uniqueness and Novelty
It’s easier to target th niche customer and serve them on a monthly basis with unique goodies. With the customised stuff on the basis of the customer’s profile, you can easily achieve customer satisfaction and expect a longer relationship with your customers. As long as you are delivering unique boxes, each month with their favourite stuff, you can always go on and on.
Better Retention of Customers
Higher customer retention rates play a significant role in making business successful, and the subscription box service allows you to get a head start in a business environment which is predominantly ruled by Brick & Mortar and eCommerce retail stores. As the subscription boxes do not require the customers to choose a set of products they need every month, instead they are delivered at the doorsteps of the customers without any hassle, they offer better retention rates.
If you can manage to snag and hustle the products from the manufacturers for free, you can attain quite high margins. With monthly delivery of subscription boxes and pre-set subscription periods, this retail business offer much better margins as compared to its counterparts.
An Automated Revenue Generating Business
If you can nail your subscription box service, you can have a completely automated revenue generating business. After making the first purchase, if your customers have a smile on their face, you can expect recurring payments as long as you surprise them pleasantly with your inimitable set of goodies.
Many compare the subscription box services with the website which offer the online coupon codes such as “My Voucher Codes”, but these are completely different services. The voucher codes offer products for discounted prices, but subscription services charge you a reasonable amount to deliver a unqiue box filled with small samples of the products available in the market.