Nowadays, there is a subscription box company for everything you can think about. Do you need socks? Subscription box. Are you thinking of buying candies, or offering your aunt some make-up, or start a collection of old French books?Subscription box.
In the last few years, subscription box companies have experienced a growth of nearly 100% every twelve months. As reported by Stanford Business, sales passed from $57 million in 2011 to $2.6 billion in 2016. Not bad, right?
Since you are constantly trying to stay up-to-date with the new retail trends, you are seriously considering to open your own. All things considered, even Gartner, the Global Research and Advisory Company, predicted that, by 2023, 75% of B2C sellers will adopt the monthly subscription model.
What are you waiting for? Aim high and start a subscription box company!
Bezos.ai wants to support your idea: we put together a series of essential hacks to consider before embarking on this exciting new journey.
The subscription box experience isindeed pleasant for customers: it’s a bit like a monthly birthday, when they receive their favourite products at their doorstep,
But since the pool is so wide, how can you make sure that your idea will be successful and stand out?
The first step is probably the most essential one: analyse your competitors.
Look at the kind of products they sell, observe what they do and how they are doing it, understand what is the most loved aspect by their buyers.
Once you have gathered enough information, you have only to do the same… but better!
Choose a niche, then identify the common winning strategies applied by the different companies and try to include them in the system you are putting in place for yourself.
Take advantage of the best practice you will find out there, but don’t forget to decide what is your mission and vision: these have to be special, to make sure you are offering something different to the market.
At this point, you already know that, at Bezos.ai, we are all about sharing knowledge. For this reason, we couldn’t avoid suggesting that, before starting your subscription box, you thoroughly investigate your market and future customers.
A deep understanding of your target audience(s), their needs, expectationsand desires is a certain lead to success for your business. Try to engage them in a direct dialogue, meet them and ask insights about their buyers’ behaviour. This is the most effective tool to group your targets, focus on a specific demographic, adjust your analysis and minimise risks before getting back into business!
Keep it simple! Dream big and focus small, as the Bezos.ai team likes tosay. It will be way simpler for you to start your subscription box company ifyou have a clear business model, easy to implement and without too many aspectsworry about, at least in the beginning. Remember: you will have all the time togrow bigger, but it is very important to get off on the right foot.
It may sound boring, but this is a step you cannot overlook. Make yourselfcomfortable, breath in, breath out and start considering the main costs youneed to take into account to begin your dream business: products, packaging,branding and website, marketing, storing and inventory management, labour costto pack your goods, shipping costs, customer service.
We promise it will pay off later!
You are almost done! There’s just one more detail to pay attention to: howto send your boxes to your eager customers?
The right fulfilment solution can make a real difference for your business,both in determining an excellent start and in supporting a faster growth, oncethings are settled down. In addition, high-quality, fair price logisticsservices will cut the costs, optimise your time and minimise risks.
For all these reasons, you should consider outsourcing to a third partylogistics company: it will save you days that you would otherwise spend packingyour products and closing your boxes, while you could do much more neededthings to boost your income!
Bezos.ai can help on that: we will analyse your needs, set your goals andfind together the perfect solution for you. All of this with no minimum volumerequired, no monthly subscription fees and with constant support to grow yourbusiness. We are much more than a fulfilment centre!
Start today building the company of your dreams!