Shopify's research defines a 'thriving' type of business or seller as one where founders are above average in their satisfaction with business performance (38%) and above average in their future optimism.
The types of sellers that will continue to grow in 2021 are :
2. Subscription box sellers
The Shopify survey shows that 63% of subscription box sellers are satisfied with the performance of their business, compared to 55% of sellers who have not sold a subscription box.
In 2020, subscription box sellers are mainly using the following two subscription models.
-Refill model: subscribers will receive the same or similar products for a certain period of time.
-Membership model: subscribers receive exclusive products or special products.
In the study, Shopify found that buyers are more likely to buy products from sellers that offer conveniences, such as e-commerce sellers that offer multiple deliveries and pick-up options. And subscription boxes provide an easy way for buyers to receive products that the platform requires for frequent purchases without having to make multiple trips to a physical shop.
Subscription boxes are known to be hot, both before and during the epidemic. According to McKinsey & Company, the subscription box e-commerce market is expected to reach US$473 billion by 2025, up from US$15 billion in 2019.
Selling subscription boxes also help sellers increase predictable revenue and customer loyalty. Sellers can experiment with subscription box services for products such as.
-basic essentials such as nappies and personal care products (replenishment model).
-Personal care products subscription boxes.
-Other popular products that lend themselves to the subscription box model, including non-alcoholic beverages, puzzles, and board games, nail polish, etc.
*Tip: Sellers can check if their existing products are suitable for the subscription box model, and if so they can put together multiple products to create a subscription box. If you want to start from scratch, you can try to cooperate with existing subscription box companies and put our products into popular subscription box products, which can also amount to increase the coverage and exposure of the seller's brand products.
【Source text: by report】
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