Back in 2008 there was an Australian company called OSCAR RAZOR that was already doing a similar thing to Dollar Shave Club. However, its retail strategy was what it was well known for.
Last Thursday, entrepreneur Kath Purkis launched her second startup Her Fashion Box. It is Australia’s first monthly subscription fashion box, sent out for a cost of $49.95 a month, with all the latest products in trend across the beauty and fashion sector that suit your personality type.
I hardly ever write these kind of posts, mainly because they are bullshit based on some survey. Whilst the research may point to one particular industry or several that will go “boom” this year, at the end of the day I would rather sell people the truth that it doesn’t really matter what industry you start in, what will will ultimately determine your success is whether or not you get off your backside and make stuff happen. Execution is ALWAYS more important than industry.
Subscription commerce seems to be skyrocketing lately. Customers pay a monthly subscription to be entitled to use services, buy cheaper products or receive goods each month. It’s proving to be hugely successful for many companies and this is resulting in well-known business models reinventing themselves to offer a similar service. If you are looking to jump on the subscription commerce band wagon you will need to be aware of the necessary criteria that you’ll need to make it a success.