The pandemic has caused many consumers to rethink their personal health and well-being, and many are increasingly willing to take care of themselves, try new things, and spend money on getting better. on a healthier path. It turns out that many of these consumers are in the same boat as others looking to experience new products without the need for in-store contact. These factors have created the perfect recipe for lifestyle and wellness subscription services to thrive.
FabFitFun is one such service that rose to prominence as a lifestyle subscription best known for its flagship product, the FabFitFun subscription box, which has a predominantly female customer base, according to the co-founder and co-CEO. Michael Broukhim. The FabFitFun box includes a selection of large format products in the beauty, fashion, fitness, wellness, home and technology sectors and is delivered monthly or seasonally, depending on the plan chosen by customers.
“People are looking for ways to take care of themselves, and self-care is a priority for people,” Broukhim said. “FabFitFun is a place where they think they’re kind of affording that.”
For an annual subscription of $199.99 per year, or a seasonal subscription delivering a box four times a year for $54.99 per box, members can receive items selected by a team of experts or boxes personalized according to their personal tastes and preferences in health, beauty and well-being. premium and emerging brand products. The boxes include items such as bathrobes, hair and skin care products, handbags and wine glasses.
While the company has connected with customers and partnered with merchants to bring exposure to their products, it has also been a great way for FabFitFun customers to connect with each other, creating thus goodwill and customer satisfaction that will lead to loyal customers, Broukhim said.
“I think one of the things we do that’s super unique is we create a context for our members to talk directly to each other and to our team members,” he said, adding that while the company provides traditional customer service, they also have social media platforms and members-only forums that create a community for followers to participate in.
“It generates all kinds of feedback loops that make us stronger over time, make our members feel heard, and have helped us build the business we’ve built,” he said.
Deliver value and lasting relationships
One of the biggest attractions of subscriptions is the promise of periodic delivery made only to subscribers and repeated billing of their payment method with no further action required from the customer – a benefit for users and the business. . This gives the customer peace of mind and something to look forward to, while FabFitFun receives a more predictable revenue stream.
There’s no shortage of similar subscription box competitors in the market, and with continued demand for contactless online shopping options, Broukhim said most retailers will need to pivot and change their offerings. if they hope to succeed in the new normal of shopping behaviors.
“Overall, on an industry level, subscription commerce is going to have to continue to proliferate, so even describing it as a category loses more meaning than you will talk about retail or stores as a category at within retail because stores are all different manifestations of an experience that you can create,” he said.
In other words, retailers have a channel to create lasting relationships that transcends the average brick-and-mortar experience, but it goes far beyond finding new ways to deliver value to consumers who go beyond today’s standard commerce models.
With the growth of a connected economy and the power of brand exposure through social media and online channels, it is incumbent on businesses to work together and promote each other for mutual success. From there, word of mouth and shared customer experiences can give partners the boost they need to be more successful.
“There’s just this huge amount of value for our brand partners, and we’ve seen that in a time when brands are increasingly challenged, in terms of how to stand out from the noise, that we could really reduce it and help them access consumers and tell their amazing stories,” Broukhim said.
Creating personalized and engaging customer experiences has helped FabFitFun grow from a newsletter business to a full membership community – offering not only subscription boxes, but also access to year-round benefits, including FabFitFunTV, a streaming video service that offers on-demand wellness content, the FabFitFun online community, and members-only shopping experiences that drive loyalty. It’s a business growth incentive that any business looking to succeed in today’s retail economy should sign up to.