Fashion keeps on changing, and this is what gives fashion connoisseurs an opportunity to design a new trend. In a candid conversation with Retailer media, Ritu Rajput, Founder of Zotiqq.com, dealing in subscription jewellery, shares her views on subscription based fashion retail....
Tell us about the inception of your brand?
Zotiqq was started off as a fashion eCommerce store in April 2014, but we soon realised the gap in the market in terms of fashion subscriptions. And hence, we rolled out our first jewellery subscription box in September 2014. We are now a subscription-only portal, offering various subscription plans for the fashion conscious women!
Zotiqq is based on e-subscription based model, how profitable has it been, considering the Indian market?
The response from the market has been very good till now, with regular orders flowing in! A lot of our subscribers are on with us for the long term, from the very beginning! Indian markets are saturated with regular eCommerce, and the customers are definitely looking for a change, and discovery eCommerce is the next big thing!
Online is all about discounts and offers, so how do you compete with various brand strategies in the market?
Our boxes offer great value for money (5 pieces each month for just Rs. 1500, whereas a single statement necklace can cost anywhere between Rs. 1000- 2000 alone when bought separately), and are delivered to the customers at their doorstep each month. Also, when a customer subscribes for the long haul, it comes down to being very affordable.
What are your price points?
Currently, we have two subscription plans on offer- Rs. 1,000 per month (for 3 pieces) and Rs. 1,500 per month (5 pieces). The longer one subscribes for, the more are the savings.
Who are your target consumers, and how do you reach out to them?
We are catering to fashion crazy girls and women from the college going crowd to young working professionals. We mostly reach out to them via social media and online advertisements.
How do you retain the price sensitive Indian customer?
Our target audience is the fashion frenzy-girl next door, and since we do very different boxes every month, our customers stay with us in the long run. Our exclusive concept, and very hand-picked designs make us stand apart from the rest of the crowd. We do have special offers and in-box surprise freebies from time to time. Also, the fact that jewellery can be used over and over again gives the customer the confidence to subscribe, since it makes our boxes good value for money!
Do you have some expansion plans?
Yes, but it is too early to talk about those right now. And did we say we love the surprise element too much.
Where do you see your brand three-four years down the line?
We'd like to reach out to more customers with more 'types' of boxes that are in the pipeline. That's all I can say for now.