If you’re in the beauty industry, you MUST consider beauty box subscriptions for your store.
That’s not just our words; it’s Charles von Abercron’s as well.
“The potential of beauty boxes is far from being exhausted”
Found by Abercron, Glossybox was launched within only 5 weeks, sold 50 beauty boxes in only 30 minutes, and collected 500 customers within their first month.
Glossybox delivers a selection of five cosmetics to thousands of subscribers around the world each month and receives subscribers’ feedback through surveys. It’s the perfect plan, isn’t it?
From makeup and skincare to haircare, beauty box subscription services offer a wide variety of products to choose from, allowing subscribers to get the most out of their beauty routine. They offer a convenient, affordable way to discover new products, try new trends, and save money on your favorite beauty products.
It may seem challenging at first, but today, we’re here to show you the best tools and tips for launching a subscription business of your own. Tune in Pandora, it’s unboxing time!
What Is a Beauty Subscription Box?
A beauty subscription box is a service that delivers products such as full-size makeup, skincare, body care, and hair care products, to a customer’s doorstep on a monthly basis. (Exciting? Wait, there’s more!)
The monthly subscription typically includes a variety of high-end products and samples that are tailored to a customer’s personal tastes and preferences. Subscribers can select from a range of boxes that can include different product categories like cosmetics, hair care, skincare, or body care.
The idea behind beauty box subscriptions is that they provide people with convenient access to a variety of beauty supplies each month without having to leave the comfort of their own homes.
Customers have the convenience of receiving beauty products right to their doorstep every month, so they can try out new items and find what works best for them without having to splurge on full-size products.
As a wise man once said, modern problems require modern solutions!
Beauty Box Subscription Market Booms with Records!
Curious about how the business is looking number-wise? Here are a few statistical facts to help:
- In 2021, $511 billion was estimated to be the global value of the beauty industry.
- As of August 2020, over 540 beauty subscription box companies were operating in the United States alone.
- According to a report by Statista, 52% of customers claimed they would be interested in subscribing to a beauty box in order to discover new products.
- There was a 20% increase in average order value (AOV) for beauty subscription brands in 2020.
- An increase of 29% was recorded in the industry’s customer lifetime value (LTV) in the same year.
Do Beauty Box Subscriptions Benefit You?
Depending on the different pros and cons of the subscription business, you can evaluate whether this kind of service is right for you or not. However, in spite of everything else, running a beauty subscription service has some distinct perks, both for yourself and your customers.
1. They’re subscription-worthy
Not all the product types are suitable for being sold as in subscriptions, but beauty products are indeed a great choice due to their high demand and repeat purchase nature. You’ve probably been using a mascara from the same brand for several months; same with the facewash you’re using from another brand. Just take a moment and imagine the convenience and appeal of a beauty box subscription that gathers these products tailored to your needs.
2. In terms of income, they’re solid
Subscription boxes offer an easy and convenient way for customers to purchase beauty and cosmetic products on a regular basis. Instead of having to shop around for the latest beauty products, customers can sign up for a subscription box and have the products delivered to their door on a regular basis. This means shop owners can enjoy a steady flow of income from Beauty box subscription sales and keep customers coming back for more.
3. They create an extraordinary buyer experience
Subscription boxes also provide a great opportunity for shop owners to increase their brand awareness. By sending out the latest beauty and cosmetic products to customers on a regular basis, shop owners can reach out to potential customers and build a loyal customer base. With an attractive subscription box, shop owners can create a unique and exciting shopping experience for their customers, helping to build a strong relationship with them.
4. They help you with data-driven decisions
Subscription boxes can also help shop owners to gain insight into their customers’ buying habits and preferences. By tracking what products customers are purchasing and how often they are purchasing them, shop owners can gain valuable information. Running a beauty box subscription business, shop owners can use data to track customer churn rates, or how often customers cancel their subscriptions. This can help you identify potential problems and make changes to improve customer retention.
Follow These 7 Steps to Launch Your Beauty Box Subscription Business
Starting a beauty subscription business can be a fun, successful, and rewarding experience. The Glossybox team probably didn’t imagine being featured on Vogue, as one of the best beauty box subscription services; did they?
Let us tell you: by following a few simple steps, you can begin your journey toward these achievements and beyond!
Check them out:
1. Develop your business concept and mission
What type of beauty subscription service are you going to offer? What types of products will you include? What will the cost be? What type of customer service will you provide? These are all key elements you will need to consider when developing your business.
2. Establish your budget
Before you start your business, you’ll need to determine how much money you will be able to invest. Consider things like startup costs, monthly subscription fees, material costs, and marketing expenses.
3. Select a subscription plan
Decide on the types of subscription plans you want to offer. You can do a one-time purchase, or offer monthly and yearly plans for your beauty box subscription service. You can also offer discounts or incentives to subscribers. Glossybox, for instance, is offering a Glossy benefit program through which subscribers can receive Glossy credit every time they complete a survey, as a members-only reward scheme.
4. Source products
Look for reputable suppliers of beauty products. Research wholesale prices to make sure you are getting the best deal. Consider signing up for trade shows and online marketplaces so you can showcase your products. Also, keep in mind that selling a beauty box subscription doesn’t have to be limited to cosmetics only. Go for:
- Skincare items
- Special formulas
- Cruelty-free products
- Cosmetics for men
5. Employ the right application
The automotive friend you need is Subify. Upon installing Subify from the Shopify app store, you can count on the service to manage your billings, orders, and records automatically. The Customer Support team is available at all times to assist you with any questions or dilemmas that may arise throughout your launch. In addition to everything else, don’t miss out on the opportunity to have a chat with the Customer Success team for individualized care and guidance!
These are just some of the steps you’ll need to take to launch a successful beauty subscription business. With a bit of hard work and dedication, and by having the super-supportive Subify team on your side, you can make your dream of running a beauty box subscription business a reality!
Subscription services are the future of eCommerce, and beauty products sure are an amazing launch pad.
Knowing the complexities of running a subscription business, we’re here to encourage you to take the chance. Go for increased sales, improved customer loyalty, and boosted brand awareness, and remember that, Subify will be with you every step of the way to make it a lot easier for you.
Every day is a great day to start your own fairytale: break the beast’s curse and unravel the beauty by offering exclusive beauty box subscriptions!
Subify is here to help.