Public Goods Boasts an Innovative Business Approach
References: publicgoods
Public Goods is a brand that embraces a subscription-style service as its innovative business approach. The brand attempts to make skincare more accessible and affordable by restructuring the factory-to-consumer connection.
To gain access to Public Goods' premium and health-focused product range, one needs to opt in for a membership. The traditional model for supply dictates that brands have to go to the supplier before selling to the consumer, meaning that there is an extra fee tact on for certain expenditures. The company attempts to change this by eliminating the necessity for a brand, a distributor and a retailer, instead embarking on a simplified innovative business approach that allows the factory to directly sell to the consumer. The annual membership comes at $59 USD per year.
To gain access to Public Goods' premium and health-focused product range, one needs to opt in for a membership. The traditional model for supply dictates that brands have to go to the supplier before selling to the consumer, meaning that there is an extra fee tact on for certain expenditures. The company attempts to change this by eliminating the necessity for a brand, a distributor and a retailer, instead embarking on a simplified innovative business approach that allows the factory to directly sell to the consumer. The annual membership comes at $59 USD per year.
Trend Themes
1. Subscription-based Skincare - Subscription-based skincare services are disrupting traditional supply chains, allowing for more affordable and accessible products.
2. Direct-to-consumer Sales - Direct-to-consumer sales models are eliminating the need for intermediaries and streamlining supply chains.
3. Health-focused Product Range - Brands that prioritize health and wellness are gaining popularity as consumers become more conscious of product ingredients and manufacturing processes.
Industry Implications
1. Beauty - The beauty industry has the opportunity to capitalize on subscription-based models and direct-to-consumer sales to offer more inclusive and accessible product lines.
2. Manufacturing - Manufacturing companies have the opportunity to explore direct-to-consumer sales models and eliminate intermediaries to improve efficiency and affordability.
3. Retail - Retailers can benefit from adopting subscription-based models that offer member-exclusive products and direct-to-consumer sales, which can increase customer loyalty and retention.
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