If you’ve ever received a lipstick, toy, aftershave sample or gadget in your monthly subscription box that you couldn’t use, you’ll be glad to hear you are no longer stuck with those items.
Last week Find Subscription Boxes (FSB) announced the launch of The Aftermarket at Find Subscription Boxes where you can turn those items into cash. Subscribers and companies can buy, sell or auction items in a variety of departments including:
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- Baby & Kids
- Books, Movies & Media
- DIY & Crafts
- Ecofriendly & Green
- Electronics & Technology
- Games, Toys, Collectibles
- Health & Beauty
- Home & Garden
You can also buy, sell and auction unwanted items in recent, featured and trending categories.
Using The Aftermarket at Find Subscription Boxes’ dashboard, sellers can set up their store in just minutes and can access helpful tools to help them process their sales. Sellers pay 8 percent commission to The Aftermarket at Find Subscription Boxes in exchange for using their online tools. According to the company’s announcement, there are no additional fees to use the service, and it is available to both individual sellers and companies with subscription box items to sell.
“Subscription box companies work hard to curate items their subscribers want and use, but sometimes one of those products might be a miss,” said Carlos Underwood, co-founder of Find Subscription Boxes. “With The Aftermarket, subscription box customers can sell those items in an online marketplace dedicated to subscription boxes.”
The marketplace is reminiscent of shopping on Amazon, and each product indicates what subscription box it came from originally.
According to the announcement, one of the reasons for The Aftermarket is to address customer churn which can occur when subscription box subscribers receive too many items that don’t fit their needs or expectations.
“By providing customers with a way to convert the items they receive in their subscription box into cash, it increases the perceived value of the box. Many subscription boxes provide exclusive items in their boxes which consumers may be able to sell for more than the total price of the box,” the announcement said.
As the subscription box industry grows, the booming market will find its own equilibrium, especially in saturated categories like snacks and beauty products. Successful companies with smart business models and a focus on customer service, quality curation and value will succeed, while others will be absorbed or simply close their doors.
The Aftermarket provides a sort of middle ground, but it is too early to tell if this online marketplace will serve FSB’s intended purpose – to boost the overall industry to reducing customer churn. That’s a great ideal, but it seems that individual companies still need to have a strong value proposition – which includes curation – to retain their customers.
They shouldn’t count on an aftermarket to solve any retention problems they may have. We do think the idea is interesting though, and it may have a place in the subscription box world.