The range of net customers in India is projected to touch 829 Mn with the aid of 2021. With a number this high, the continued upward swing of digitisation will most effective upward push in the coming years. Today, the whole lot from food transport to flight tickets is digitised. And some thing that turned into in advance an offshoot of this digitisation is now defining how agencies are performed today, particularly — the subscription version.
More and extra agencies today are transferring towards subscription-primarily based models, as it's miles cost-effective, handy and a one-time challenge at the customer’s stop. Be it Netflix which has over a hundred twenty five Mn subscribers these days or the SaaS enterprise, the subscription-primarily based model is slowly but genuinely becoming the norm for purchasers. From Online streaming platforms like Amazon Prime Video and Hotstar, to grooming corporations which include Harry’s or Dollar Shave Club imparting razors and shaving merchandise, to splendor businesses as Ipsy providing personalized make-up for ladies, or agencies consisting of devour.Suit with their weekly subscription meal plans, subscription models at the moment are ruling human beings’s minds globally.
One such startup participating within the subscription economic system is Chandigarh-based LetsShave, based with the aid of Sidharth S Oberoi, and backed via the Korean shaving giant, Dorco.
Back in 2015, LetsShave commenced off as a logo catering to men’s grooming merchandise, however nowadays it caters to each ladies and men with more than twenty grooming merchandise which include — shaving kits, trial kits, blades, shaving foams, scrubs, shaving brushes and distinct merchandise inclusive of 6-blade razor with trimmers.
Empowering The Consumer
Sidharth S Oberoi grew up within the small city of Chandigarh and even as pursuing engineering, the idea of bringing in suitable exceptional grooming merchandise befell to him and his wealthy experience in product innovation gave him the imaginative and prescient to herald international-magnificence razor products to the market.
Thus, he started LetsShave with a venture to position the strength back into the fingers of the customers as the men’s shaving and grooming marketplace in India turned into monopolised and consumers had little idea about what to expect or call for. A handful of gamers determined the fees and high-quality of shaving products, and consumers had no preference however to go along with what changed into to be had inside the market.
LetsShave is defining this by means of imparting a wide range of remarkable merchandise at low-cost fees and is progressively onboarding a large demographic of the millennials and Gen-X customers. ‘’We sell at once to customers which cuts the middlemen value and lets in us to offer products at a truthful fee. In addition, Dorco’s cutting-edge generation and specific strategies to manufacture blades make certain transport of terrific merchandise even as nonetheless maintaining the producing costs in check,’’ says Oberoi.
The startup gives subscription-based totally shaving products in which customers order a entire shaving package with razors on-line and get it introduced at their doorsteps. In addition, customers receive a reminder thru SMS and emails about converting the blades every month. Based on these reminders, they order once more or order in advance for the next few months to get a regular supply of blades while not having to physically go visit a shop.
LetsShave follows a direct-to-purchaser online income version and has a repeat purchaser fee of more than forty% with about 90% of the income generated from LetsShave’s own platform, while 10% from other resources.
Since its launch in November 2015, LetsShave has touched a purchaser base of 450,000 human beings; and income of 19 Lakh products.
Simplifying Grooming Needs
LetsShave started out out as a men’s simplest grooming merchandise organization however slowly different to include products for women after realising how a few girls desired short-fixes of their busy schedules. “There’s a large demographic of ladies who don’t like to be operated for pores and skin or hair elimination treatments. They opt for short-time period however more secure methods. And this is a huge enough marketplace which we're tapping,’’ says Oberoi.
With its tagline ‘Love Your Body,’ the agency targets to assist girls depend on them for his or her grooming needs with the aid of the use of technically superior products.
‘’We did start off as a cutting-edge grooming brand for the millennials but an entire demographic of older women and men completely surprised us,” says Oberoi.
Shaving is not looked upon as a every day chore before heading out for the day, however it is now a private desire with distinct needs, and startups like LetsShave are supporting in providing a pleasant experience no longer just with their suite of products however through imparting smooth get entry to to those merchandise as properly.
Oberoi says, “With regards to the generation of our blades, we have patented angulated blade platform, Venetian go with the flow, and redying bars to prepare the hair, lubricating bars and patented not unusual docking structures.”
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With an aim to serve each ladies and men similarly, the goods of LetsShave fall in a similar price range. The preliminary kit percent for both ladies and men, this is LetsShave Pace four and LetsShave Soft Touch 4 begins at $five.Sixty two (INR 399).
On the alternative hand, this zone is majorly ruled by traditional players imparting a exclusive range of merchandise, but in most instances, merchandise for ladies are more expensive than guys’s. For example, Amazon gives Gillette MACH 3 constrained edition shaving kit for guys at $7.02 (INR 499), whereas Gillette Venus gift % for girls comes at $7.Seventy three (INR 549).
Moreover, the subscription version of the startup facilitates human beings stay fear-loose about their next top off purchase date. Tapping into the pool of internet savvy people, the startup plans to capture markets outdoor the Tier 1 towns in India.
While massive names like Gillette are dominating the market not simply with their merchandise but additionally their ideology, the version of LetsShave and the ‘one for all method’ offers the business enterprise an area. With newly raised funds, the enterprise desires to recognition on its on-line business and on increasing the product portfolio to cater to the grooming needs of males and females efficaciously, even as turning into a one-forestall answer for grooming, preserving shaving as its middle category.