DETROIT - Hundreds of entrepreneurs are expected to converge in Detroit for the first ever subscription box summit, scheduled for September 21-22, at the Atheneum Hotel in Detroit.
Subscription Box companies are disrupting traditional retail by leveraging existing technology to bypass traditional marketing channels, reaching consumers with more convenient ways to shop and try new products. Traditional retailers are starting to listen. For example. Unilever announced its plans to acquire Dollar Shave Club, a five-year old company that delivers disposable blade to subscribers for as little as $3 per month, for $1 billion and Nordstrom’s acquired TrunkClub for $350 million.
“The subscription box industry has changed the way many people shop,” said Paul Chambers, owner of The Gentleman's Box and Summit organizer. “It also has changed how many retailers operate their business.” For people who don’t like to shop or don’t know how to cook, getting a mystery box every month not only takes the guessing out of shopping, it gives you the chance to try something new.
“This conference represents our opportunity to address emerging issues in an undefined industry,” Michael Broukhim, CoCEO FabFitFun said. “Companies like ours, are working to make shopping easier for the consumer, find the right pairing of goods and provide an element of surprise each month."
Subscription box companies such as Birchbox, Dollar Shave Club, Harry’s, NatureBox, BarkBox, JustFab and Ipsy continue to raise the bar, were retail, fashion, technology and convenience converge. The Dollar Shave Club disrupted the shaving industry, Warby Parker is challenging eyewear, Casper is redefining the mattress industry, in addition to how parents ship for their children’s clothing. Subscription box companies are opting for fulfillment services and warehouse space over retail space, You Tube and Instagram, over newspapers and television.
Making shopping convenient, subscription boxes allow the consumer to experiment and experience products in ways they would not normally have the ability to do. The Subscription Box Summit will bring over 100 subscription box entrepreneurs together in Detroit, September 21-22, 2106, to meet with other industry leaders, such as Michael Broukhim, CoCEO FabFitFun, Katia Beauchamp, Co-Founder and CEO, Birchbox and Liz Cadman, founder of My Subscription Addiction.
While centered around the subscription industry, anyone interested in learning from industry leaders on their secrets to success, will gain valuable insight on a rapidly growing industry, in addition to:
· Influencer marketing
· Leveraging big data and transforming data into deals
· Raising capital to grow your company
· Outsourcing fulfillment or keeping it all in house
· Giving your brand enough pizzazz to stand out from others
· Packaging products
· Maintaining loyal customers
· Paid social media marketing and best practices
· The value of email marketing
With the barriers to starting a subscription box business continuing to fall, expect to see many more budding entrepreneurs launching new twists wrapped in a box, delivered to you each month.