Top 3 eCommerce Reads for April 2022
We’ve been busy this Spring at Conjured, but today we’re making time to bring you our top 3 articles for the month of April!
Lululemon to Launch Paid Membership Plans for Perks, Workout Classes
In an effort to increase customer loyalty and boost their annual revenue numbers, Lululemon has announce that they are launching a paid membership program later this year. Their paid tier will cost $39/month and provide members with early product drops, in-person events, and online workout classes. This comes as no surprise to us, since we’ve been saying for months that membership programs are the new loyalty program, but it’s always encouraging to see large brands prove out the trend.
New data underscores a slowing e-commerce market
If you’re operating in the eCommerce space for the last few months, this article isn’t going to come as a shock. Techcrunch posits that the slowdown of eComm transactions is due largely to the fact that “future e-commerce activity was pulled forward” during the early months of the pandemic. That, combined with rising costs of goods and increased ad prices have brands scrambling to find ways to acquire new customers and retain their highest value ones. We’re big believers in the concept of antifragility (it’s one of our core values as a business) and are hopeful that brands rooted in that theory will continue to find their footing during this downturn.
Subscription Ecommerce Market Growth Rate Reaches A Whopping 65%
The headline is the news here - in 2022, the subscription eComm market is expected to grow by 65% over 2021. Brands have been working hard to transition the swell of new pandemic customers to longer term recurring revenue, and it looks like it’s working. We’ve done a lot of subscription work in the past with our app Conjured Subscriptions, but if you’re a brand whose product doesn’t cater well to a “subscribe-and-save” style replenishment model, you might still be able to get high-margin recurring revenue (and the increase in brand loyalty!) through a well thought out membership program.
Whether you’re looking to start a paid membership program, or acquire new customers with an easy-to-use referral program, we’ve got you covered. Check out Conjured Referrals and Conjured Memberships in the Shopify app store now!