Hello, Team Cash! Ever heard of eCommerce subscriptions? Most probably yes, right? Did you know that subscriptions can actually increase your profits? I’ve got something to share with you!
An eCommerce subscription is an option wherein a retailer is willing to sell products to you repeatedly. Meaning a shopper can either purchase a product as a one-time order or opt for an auto-restock option to receive the product regularly. Or it can be a standalone service, such as Boxycharm or Target Beauty Box.
So you ask, why having a subscription business would be a great option? Here are FIVE benefits of eCommerce subscriptions:
1. Good return of investment
Newly acquired customers are likely to make repeated purchases. With a subscription service, your return on investment or return on advertising spend is almost certainly better than a business that offers only one-time sales.
2. Higher customer retention rate
Expect better rates for subscriptions. With a subscription offer your customer will be more likely to buy again and again.
3. Better retail margins
You can also sell products at a higher price, like in the case for box subscription services that includes several products together for a set price.
4. More manageable inventory
You have total control of the number of items you are going to order. You are simply going to base it on the number of subscribers you have.
5. Low shipping cost
You can choose relatively slow and inexpensive ways to ship your boxes, as long as they receive it on time!
Those were really good points, right? Why not give it a try? You can either opt for auto-restock option for your online store or offer a subscription box! Which one do you think will you earn the most? Share your thoughts below!
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