A snippet from Newsletter .07
Reasons to never leave your home:
(potentially the title of my memoir)
I’m constantly impressed by subscription boxes I haven’t thought of signing up for yet. Coffee? In cute packaging? that would be such a sweet little parcel to receive each month, trying all kinds of different roasts. Contact lenses? also in cute packaging? why was I going OUT OF MY WAY to get these things in ugly packaging every 6 months of my life?
A friend recently told me that STD test subscriptions were all the rage in Europe. A quick, discreet way for everyone to manage their sexual health without having to frequent the local STD clinic.
More and more retailers are jumping on this trend, and McKinsey & Company’s The State of Fashion 2017 report listed “discount culture” as one of its top consumer trends of the year.
It’s always fascinated me how many businesses survive on the hope of human error of forgetting to cancel your subscription. It helps that no one is reeally that mad to get a subscription box they forgot to cancel.
Here are some interesting facts:
- Ipsy, the mother of them all was started by a pioneer makeup artist YouTuber (Michelle Phan), and is valued at an estimated $800 million.
- Stichfix, which sends out curated clothing boxes from a stylist posted posted revenue of $730 million after only five years. Trunk Club (purchased by Nordstrom) with $197 million in 2016, and several others all on track to exceed targets.
- There are about 5.7 million subscription box shoppers in the US today according to Hitwise. Here are their specs:
- College Degree
- Liberal Politics (lol)
- Female (58%)
- Household income exceeding $100 thousand
- Children ages 3-5 in the household
- Adam Goldenberg, CEO of TechStyle stated, “the last billion-dollar fashion brand to be created was Lululemon in 1999, before social media and before the smartphone…” Which subscription startup will surpass it?
- In the month of April 2017, subscription company websites had about 37 million visitors. Since 2014, that number has grown by over 800%.
- 1 in every 266 searches to sub-box sites include the word “cancel” ( oh how I’ve been there)
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