Why you should have a subscription box?
People Just love the feeling of receiving mysterious parcels in the mail and that delightful thrill of anticipation when you open up a present not knowing what’s inside, a subscription box might be exactly what you’ve been missing from business selling idea.
What is Subscription Box or a Mash Box?
A Subscription Box also known as a Mash Box, is a box consisting of 4-5 items ,samples of your products or even 1 new item each month. So each month, you would post out to your customers a box of samples or miniatures or Makeup, skincare, hair care, perfume,chocolates,cloths etc.)
Is a Subscription Box worth it?
Subscription Boxes are worth it if you would like to have your customers try out new products, get their favorite item without knowing what color or pattern it is this time or for customers that would want a monthly purchase of the same or different items.
4 things to decide before you start your own subscription box!
What do you want to sell?
How are you going to make money?
Who is your ideal customers?
How will you ship your box?
What types of products can be in a subscription box?
•Tea and coffee
•Organic and wellness products
•Food: gourmet, region-specific, niche (vegan, gluten free), farmer’s market
•Supplements and vitamins
•Beauty and personal care: makeup, skincare, hair care, men’s grooming
•Baby supplies: diapers, wipes
•Pet products: litter, poop bags, treats
•DIY supplies and craft kits
•Socks and underwear
•T-shirts . shawls
•Gaming, Toys,and Comics
How does this benefit your customer?
With a subscription box a customer can repeat order for that specific something they like on a monthly basis. For cosmetics or perfume products – customers that opt for the subscription box get to test a few items before choosing which one really works for them.
Revenue: Having a contract subscription box allows you to see the future, which means you can plan or predict the other aspects of your business like shipping costs ,hiring and more.
Easy math: The best is to have a recurring billing cycle or a fixed product cost to calculate a customer’s lifetime value. Having a subscription with a contract works best.
Shipping systematically: Make sure that all subscription has a fixed date for shipping. This will help keep shipping cost and logistics simple and consistent.
Great cash flow: By offering your customers a discount for a contract subscription, you might get majority of them signing up for a full term upfront.
Retain customers: Cost less to retain customers as subscription customers are permanently“retained” for a fixed period of their subscription.
No wasting: You would not over buy items as you would only be able to buy certain amount to fit in the boxes. This also eliminating the need to clear out inventory at low margins.
So if you have the rite products , and if you think customers would like to have either something different every month/quarterly or would like to receive the same items on a monthly basis.
Categorised in: How-to
This post was written by Rina Chandra Kumar