With the world currently in a state of lockdown, life as we know it has come to a halt. People have been trapped in their homes, children cannot go out to play, and traveling has become almost impossible.
Along with individuals, businesses have also suffered tremendously under the new unstable conditions.
However, online buy and sell has seen a significant boom as numerous businesses started shifting online. Among them, one particularly interesting highlight is the subscription boxes business.
What are Subscription Boxes?
Subscription boxes are specific types of transactions where customers buy predetermined goods or services from the suppliers on a monthly or annual basis at recurring cost. The concept of subscription is not new.
Wine, magazines, coffee, etc. all have been in some ways part of exclusive monthly clubs. There are various kinds of subscription boxes, such as:
- Subscription boxes for men (which include razor blades, perfumes, shirts, socks, etc.)
- Subscription boxes for women (which include menstrual hygiene products, clothing, accessories, jewelry, etc.)
- Subscription boxes for kids (which include books, different toys every month, diapers, etc.)
- Want a new crafting project delivered to your door monthly? Click here to shop 100’s of subscription boxes!
- Monthly makeup boxes (exclusive makeup products such as lipstick of the month, contours, blushes, etc.)
- Food Subscription boxes (which include fruits, vegetables, staple foods, cooking essentials, etc.)
- Wine subscription boxes (provide a different type of wine every month)
- Click here to find book subscription boxes for kids to adults and in all genres.
- Pet essentials (which include pet food, treats, and even toys)
These subscription boxes have revolutionized the online retail industry by providing customers all their monthly requirements to their doorstep without waiting for customer orders.
Some of the perks of monthly subscription boxes are listed below.
One Less Thing to Worry About
The biggest advantage of subscription boxes is that you do not have to constantly reorder your essentials every month. Instead, all your subscribed products are delivered to your doorstep on the preferred date which takes one item off your list of worries.
This can save your valuable time and help you divert your focus to more important tasks.
You Can Save Some Money
Subscription boxes usually are designed in bundles which offer significantly lower prices compared to individual items collectively. Some subscription providers also offer huge discounts on prepayments of annual subscriptions.
Other than that, signing up discounts, loyalty discounts, and bulk order discounts are also offered by many subscription providers which can help take some load off your wallet.
Discover New Products
This is one of those things that I love the most about subscription boxes. Several subscription boxes offer different products with every shipment, so you get the chance to discover new products every time you receive your subscription box.
This type of varying product shipment also helps you keep up with the emerging trends. Several subscription boxes offer products that are in line with the current market trends.
For instance, you can get the trendiest outfit, or the most desired makeup kit, or even something as mundane as seasonal fruits. Subscription boxes are there to keep you updated with the market dynamics.
Predictability and Assurance
With monthly subscription boxes from Cratejoy, one thing that you can be certain of is the products you will receive will be of the same quality throughout the life of the subscription. Increased personalization and the associated lower costs are beneficial to the customers and hence, are preferred by them due to the factor of predictability.
Most of the subscription boxes offered in the market are customized and suited to meet your requirements. Some subscription providers will ask you for your preferences, hobbies, and your interests to design the subscription-based on your data.
The service then provided is made solely for you and you can have your very own set of products based on your needs.
Subscription boxes are highly targeted towards individuals with certain similar characteristics. Some subscription providers group sets of people according to their varying requirements.
- Customers’ age group
- Their gender
- Their hobbies, interests, and requirements
- Customers’ socioeconomic class
- Location (people living in different areas have a different taste of products and needs)
Targeted segmentation allows the subscription providers to identify their customers and provide the best-suited alternative to their needs.
One of the biggest perks of having subscription boxes is the increased customer feedback loop. Since the subscription boxes are delivered on a continuous basis, subscription providers have a general idea about the needs and requirements of the customers.
Therefore, if a customer has any complaint, the service providers can easily solve their issues because of the available data. Hence, in a subscription-based system, customers tend to stick with the companies because of better communications and customer service.
Excitement and Dopamine
Today’s shopper demands high volumes of variety and easily accessible items. Other than that, the level of predictability or the feeling of receiving a gift is what the customers want nowadays. Gone are the days where you had to go to a store and choose your outfit in a ruckus of customers.
Now, with the help of subscription boxes, you can treat yourself with all you need products from the comfort of your couch. Subscription boxes are like ordering a present for yourself and the excitement surrounding it is hard to define in words.
While the world is engulfed with the situation of the shutdown of 2020 situation, major businesses have collapsed due to their inability to adapt to the changing business dynamics. Many started shifting online and thus the small initiative of subscription boxes saw enormous growth over the period of this pandemic.
From a customer’s point of view, the subscription providers are fulfilling their basic needs and help them maintain social distancing by delivering their required products on their doorstep.
In a world full of uncertainty, subscription boxes provide reliable and fixed products to you so you can live your life with ease and without worrying about regularly ordering your monthly products again and again.
With all that is said, subscription boxes have revolutionized the way companies do business and, in my opinion, these products are here to stay.