So what is Fancy box subscription? Well, it’s a box that we pay monthly as the subscribers at $39 per month, excluding the shipping cost. Fancy inform that the value of the content in the box will approximately be $65 and above. There are many different famous people endorsed boxes available, such as by Pink, Jennifer Love Hewitt, Ashton Kutcher, Coco Rocha, and many more. The named celebrities will then choose the content of each monthly boxes, including cards that explain why they choose those items. Plus, we can customize the categories of items that we’d like to receive. For example, I ticked ‘fashion’, ‘homes’ and ‘gadget’ as my preferred categories.
I received my first subscription box last week, some items I loved, and some items I wasn’t so happy with. But the excitement sort of eliminate the disliked part, interesting huh?
As human beings, we tend to collect random items that we see (impulse purchase), so why not getting them from our favorite celebs, models or even chefs?!
Well, what is it with subscription marketing that Fancy does?! Is it just another way to generate revenue? Not so sure about that. Imagine the cost of getting the celebrity endorsements that Fancy will have to pay, as well as the cost of the items. Some economies of scale might be achieved by the large amount of subscribers, but generating direct revenue out of these boxes isn’t the main purpose I suppose. From my marketing perspective, I reckon Fancy is trying to engage emotionally with its users (customers). By enabling some vague relationship to exist between the chosen celebrities/chefs/models and ourselves, we can gain value out of the box, aside from the items we receive monthly. Go check this blog called mysubscriptionaddiction, and see how addicted people can get to these boxes of surprises.
In addition, loyalty towards Fancy is also built, as customers becoming more loyal by the month. They wait with excitement for their box (some may subscribe to more than 1 box), hence their excitement in hearing from Fancy. Going further, imagine the amount of awareness those brands will gain by being in the subscription boxes. These brand awareness are enhanced by the celebrities’ explanation that is printed on cards (included in the box), about why they chose those products, i.e. showing the celebrities’ point of views towards the products. Overall, win-win for the customers, firms, celebrities, and Fancy as well!!
BUT, can Fancy keep this up int he long term? What’s the rate of people that discontinue from the subscription? Well, we’ll just have to keep an eye, and see whether this is a trending approach in building brand loyalty.
Here’s just some snapshots of my subscription box. Can’t wait for next month’s one!!
See you on my next post! Have a great week 🙂