Staying ahead of the technology curve means strengthening your competitive advantage. That is why we give you data-driven innovation insights into the retail industry. This time, you get to discover 5 hand-picked subscription economy solutions.
Out of 417, the Global Startup Heat Map highlights 5 Top Subscription Economy Solutions
The insights of this data-driven analysis are derived from the Big Data & Artificial Intelligence-powered StartUs Insights Discovery Platform, covering 2 093 000+ startups & scaleups globally. The platform gives you an exhaustive overview of emerging technologies & relevant startups within a specific field in just a few clicks.
The Global Startup Heat Map below reveals the distribution of the 417 exemplary startups & scaleups we analyzed for this research. Further, it highlights 5 retail startups that we hand-picked based on criteria such as founding year, location, funding raised, and more. You get to explore the solutions of these 5 startups & scaleups in this report. For insights on the other 412 subscription economy solutions, get in touch.
Rosehive offers Superfood Subscription Box
Superfoods are gaining consumers’ attention because they are nutrient-dense. Their high nutrient profiles give a range of health benefits and promote fitness. Superfoods are also packed with vitamins and minerals. Hence, people incorporate them into their daily food routine to have a balanced diet. Startups understand this market demand and offer subscription boxes of superfoods to meet customers’ monthly demands.
Rosehive is a US-based startup that offers superfood boxes through a monthly subscription model. The startup’s superfood box consists of nutrient-rich snacks, herbs, powders, oils, and cooking ingredients. It also comes with recipe guides to create a variety of dishes. The superfood box has different themes every month and it is curated by Roshive’s wellness experts. Further, the startup asks the customer before checkout if they have any dietary restrictions in order to personalize their superfood box.
MyFishman provides Seafood Subscriptions
Since the COVID-19 virus hit the world, countries have imposed nationwide restrictions and several businesses suffer the impact of lockdowns. Farmers and fishermen around the globe bear losses because of the inability to connect with customers and sell their fresh produce. Startups bridge this gap by providing eCommerce platforms for small and local businesses to sell their products with the advantage of subscription to ensure a continuous income.
Malaysian startup MyFishman offers fresh seafood subscription and delivery services. The startup’s Freshbox subscription delivers fresh fish and seafood from the local sea around Malaysia, directly to the customers. All fish and shellfish that the startup sells are freshly caught by their fishermen and delivered within 48 hours of docking. The startup practices sustainable fishing and, hence, customers receive the fish that are in season.
Boxful facilitates Subscription Management
Many industries, including retail, are adopting the subscription business models as it allows businesses to focus more on consumer habits and their preferences. This economic model also enables retailers to retain a large number of customers and provide the comfort of getting regular items on a recurring basis without having to shop again. Startups develop software solutions to streamline subscription management for retail companies.
Boxful is an Argentine startup that offers software solutions to facilitate the creation, management, and scaling up of subscription-based businesses for retail companies. The software allows companies to configure plans and subscriptions according to their requirements as well as integrate with multiple gateways to process payments. The startup’s solutions, in addition to managing recurring charges, also enable retailers to increase customer acquisition and deliver the product in a timely manner. Further, it sends personalized emails and notifications to users in case of abandoned checkouts or declined payments.
Expack delivers Food Subscription Pack for Expatriates
People living and working in foreign countries often crave the food and dishes of their home country. However, such treats are hard to find and impractical to carry along in the suitcase. To fulfill the needs of such expats, startups provide the goodies and snacks from their home country as subscription boxes so that customers do not have to go through the hassle of reordering.
Expack is a US-based startup that offers a monthly subscription box of snacks and goodies for expats. It is an auto-renewing service where the products ship between the second and the third week of the month. The users select their home country while signing up, and the startup includes items that are hard to find outside of their home country in the box. While most of the products in the subscription box are food and snacks, they also include toiletries, shower gels, soaps, and medicines. Users can easily pause or cancel their subscriptions at any time.
Younium advances Business-to-Business (B2B) Subscription Management
Managing B2B subscriptions is a complex task as it involves taking care of several invoices, customer relationship management (CRM), subscription systems, and spreadsheets. It also entails managing recurrent client subscription events such as trial activations, new sign-ups, renewals, upgrades, downgrades, and cancellations in an efficient manner. To facilitate this, startups offer one-stop solutions to manage all subscription data from quotes, contracts, and invoices to cash, thus ensuring smooth running of operations.
Swedish startup Younium provides a tool that integrates into the company’s existing systems to streamline subscription management, invoicing, financial reporting, and data insights. It enables retail companies to grow their business with full control of subscriptions, easily implement scalable processes, and harness accurate metrics. The platform also allows retailers to manage their subscription portfolio without the need for custom patches. It fills the gap between the sales CRM, financial systems, enterprise resource planning (ERP) systems, customer support, service desk systems as well as a company’s products and services.
Discover more Retail Startups
Retail startups such as the examples highlighted in this report focus on direct-to-consumer (D2C) distribution, subscription management, and B2B subscription models. While all of these technologies play a major role in advancing the retail industry, they only represent the tip of the iceberg. To explore more retail technologies, simply get in touch to let us look into your areas of interest. For a more general overview, you can download our free Retail Innovation Report to save your time and improve strategic decision-making.