Why Retailers Are Going All In On Subscription Services
The words ‘subscribe’ and ‘save’ are so closely linked in the world of retail that it’s no wonder the subscription box industry is booming. In 2017, discounting and the sale price mentality have become such standards that The Business of Fashion and McKinsey & Company’s The State of Fashion 2017 report listed “discount culture” as one of its top consumer trends of the year. Enter subscription boxes. The implication in any box purchase is that consumers will save money, certainly, by signing up to receive a personalized selection of products designed especially for them. But also there’s the promise of saving time, which is almost as important. Consumers no longer need to waste valuable time selecting outfits, browsing through options or even visiting stores. All the work is done in advance, and customers get to enjoy the fun of opening packages at home — which also plays into the increased consumer desire for self-gifting. Subscription boxes hit all the trends, theoretically. Read more at Retail Dive.
