Knitting subscription service could be great holiday gift

The holiday season is the time for giving, yet many consumers are stressed about the economy and have yet to invest in any worthwhile gifts for their loved ones. Instead of going to a major reseller and purchasing a $400 smartphone or $1,000 computer, individuals should think about spending allocated amounts on a subscription service – a year-long gift that keeps on giving.

KnitCrate is a perfect example of a seasonal service, as subscribers can receive high-quality knitting necessities to make hats, gloves and other items to stay warm this winter. In each package, customers will get a featured bundle of yarn from a high-quality provider, a pattern to help individuals create a surprise project, as well as a sweet and soothing item like tea and a fun secret item.

KnitCrate provides subscribers with two models: a monthly and bi-monthly service, each with their own subcategories.

For $45 a month, for example, monthly subscribers can have access to the baby offering, which provides individuals with yarn and supplies to make booties, blankets and other baby needs. If a baby is not in the picture, subscribers can also select from beginner and intermediate/advanced boxes for $55 each month. Depending on the level of difficulty, customers will receive challenging or complex patterns and projects every month.

The bi-monthly subscription service offers the same products less frequently and at a lower rate than the monthly plans. The baby offering, for example, only costs $25 every two months, while the beginner and intermediate/advanced products are $30 every other month.

The official launch date of the subscription service is set for January 2013, making it a perfect ongoing gift for a family member or loved one that enjoys making his or her own winter gear.

Since the subscription business model is becoming more popular for organizations looking to create a more robust recurring revenue stream, companies like KnitCrate are bound to keep emerging in the private sector. For this reason, among others, executives should consider using a subscription management platform, which will give decision-makers unique insight into customer activity and potentially provide them with ways to gain a competitive advantage over rival subscription services.

About the Author

Editorial Team

The Forrester Wave: Subscription Billing Platforms, Q4 2015

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