According to Forbes, eCommerce subscription market segments have been growing more than 100% yearly over the last five years and now account for a quarter of the online shopping market, generating billions of dollars’ worth of sales.
One of the biggest and most successful names in subscription services is Stitch Fix, who is said to be growing at a rate of over 20% year on year, reported $296 million in earnings last year. This is before the recent launch of two key apps; but we will get to that.
In case you didn’t know, Stitch Fix is a subscription service that brings personal shoppers to the mass market. Founded by Katrina Lake in 2011, it is a blend of the top styling experts and clever algorithms, bringing high-quality apparel, styling advice and suggestions to people who don’t know what to wear – right to their front doors.
Read more: business2community.com.