More and more online entrepreneurs are hopping into the subscription boxes bandwagon. Subscription box contains assorted niche goods delivered to subscribers on a regular basis.
In a recent article on Forbes.com, it was reported that subscription company sites incurred more than 37 million visitors. The market is expected to further grow as there are close to 6 million shoppers and more than 2,000 subscription box service providers.
Interested in opening up your own subscription box business? Here are some things to keep in mind:
Brand concept is critical in subscription box business
The brand concept of your subscription box business will determine the success of your enterprise, so it is important to do research first. Find out if the concept you have in mind is already in place. If you can identify an undervalued niche with a potential market, then you’re one step closer to success. Also, don’t forget to determine your potential customers and gather important information like pricing and service structure.
Presentation of the subscription box matters
Equally important is the presentation of the subscription box. Think of it as the store front of your business. The more appealing it is, the more likely your subscribers are to buy from you again. One survey showed that 52 percent of subscription box buyers are willing to make a repeat purchase if they get an interesting or well-presented package.
Weight of the subscription box can affect your costs
The weight of the subscription box is crucial for one significant reason. You’d naturally want to ship a box that isn’t heavy because it can affect your shipping costs. Try to reduce the weight of the box without sacrificing the presentation or the quality of the goods you are to ship.
Marketing your business
Just like any enterprise, marketing your business will determine the success of your enterprise. There are several ways to get the word out about your service like guest blogging, creating newsletters, or landing your site in the first page of a search engine search.