Subscription boxes and services are all the rage. As you go about your daily life on the internet, browse around the best subscription boxes available on the market. Chances are, you will get overwhelming results for recurring revenue-based businesses. If you’re thinking about applying the subscription box model to your eCommerce business, here’s everything you need to know from our subscription box fulfillment experts.
To give you some insight into this growing eCommerce trend, here are some statistics about subscription boxes and services:
This proves that eCommerce subscription services aren't just a fad. The industry keeps getting bigger each passing day and there is no sign it will slow down anytime soon.
In a subscription box model, products are delivered regularly (often monthly). Mostly, these products are picked based on a client's personal preferences. Practically, anything you think of can be delivered as a subscription, from makeup to electronics.
This model benefits both the business involved and its customers. Online retailers are assured of a predictable and steady revenue stream. Customers, on the other hand, don't need to scramble to place orders. Once they have subscribed, their products are delivered every month or depending on the frequency selected.
Understanding your niche can help you decide which option will work for you. So, consider taking a closer look at the current state of your business and see what model will make the most sense when implemented.
For example, if you sell furniture, it may be challenging to take either route. But there is still a way you can benefit from subscription boxes. You can expand your catalog to include products like knickknacks, throw pillows, upholstery cleaners, and any other products customers are likely to need often. You need to be open-minded if you want to get the most out of the subscription box industry.
Once you have finer details about your niche, the next step is coming up with a subscription business model that works for you. While it is okay to borrow ideas from other players in the industry, try your best to create your own subscription model that is unique. This is because there are no two businesses that are the same, no matter how similar they may appear. Some of the questions you may want to consider asking yourself when designing an eCommerce subscription model include:
You need to find out if there are customers who will subscribe before getting started. Only proceed if there is a sizable market.
Ensuring your customers get their products on time may seem like an easy task, but it isn't. It gets even more complicated if you don't have an arrangement with a reliable shipping and order fulfillment company. For that reason, you want to come up with a subscription cycle that will leave your customers satisfied. You can experiment with a few products before going full-throttle on the implementation of your subscription model.
Pick a few things from your competitors that can help you get started on the right foot. Find time to learn what your competitors are doing and see what you can do differently to gain a competitive edge.
There are numerous reasons why brands are increasingly investing in offering a subscription order option. Here are four reasons why:
Subscription box fulfillment services can make or break your eCommerce subscription box business. As such, it is important to think of the convenience that comes with engaging a reliable 3PL order fulfillment company to fill recurring subscription orders that must be shipped regularly.
Rakuten Super Logistics offers fast and affordable subscription box fulfillment for eCommerce businesses. They can help in ensuring the recurring subscription orders arrive at the desired destination on time, every time. Request a quote today to get a clear view of how you can leverage lower shipping costs and fast delivery.
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