Subscription boxes and curated services – aka companies that send you an assortment of goods on a periodic basis – are nothing new. In fact, they’ve been around for decades in the form of things like record and fruit-of-the-month clubs. What’s relatively new is both the prevalence and popularity of such services; a phenomenon that can be explained by dynamics on the supply and demand sides of the market.
On the operations side, broader business trends make such ventures easier to start and less costly to run. For instance 1) the rise of turn-key websites with built-in shopping carts makes it easy for anyone to create a site and reach an unrestricted audience, 2) the prevalence of flat-rate shipping makes costs more predictable, and 3) the increasing number of suppliers across industries that are able to do just-in-time and small-lot deliveries helps to decrease inventory costs.
On the marketing side, many subscription boxes and curated services have added to their original allure – convenience and novelty – by offering a personalized selection of goods. Of course, companies do such marketing with varying degrees of success. Join as Liz and Tanya share their thoughts on how subscription boxes and curated services can successfully capture and keep an audience.