Claire’s on Tuesday launched its first subscription service, cDrop, which sends curated boxes of accessories and jewelry to customers, according to information sent to Retail Dive.
Each box within the subscription offering retails for $30 and is shipped quarterly with no ongoing commitment. The launch features three themed drops (GlitzyDrop, BitsyDrop, and VibeyDrop) for shoppers of different age ranges.
Customers can sign up for a subscription at the retailer’s website.
Teen and tween accessories retailer Claire’s is getting into the subscription box space “to foster self-expression” among its Gen Z audience — and to bring in an additional revenue stream.
It’s currently a popular business model, with companies like Stitch Fix offering a subscription service option to shoppers and Amazon acting as a portal for consumers to access a myriad of boxes from brands in categories like beauty, grocery, lifestyle, and toys. In the jewelry space, DTC company Rocksbox touts a jewelry rental membership where customers receive three items of jewelry for $21 a month.
And the segment is expected to see growth. The global subscription box market reached $18.8 billion last year and is expected to have a compound annual growth rate of 20% from 2021 through 2026, according to research by Imarc Group.
“A significant growth in the e-commerce sector along with increasing penetration of social media trends is primarily augmenting the market for subscription boxes,” the report states.
“Furthermore, the rising influence of various social media blogs and numerous celebrity endorsements is also propelling the product demand, particularly among the urbanized and millennial population.”
Claire’s, which in 2018 filed for bankruptcy, is now primarily owned by Elliott Management and Monarch Alternative Capital — a group that was previously its largest lenders. Since that time the retailer, along with its sister brand Icing, is still operating thousands of stores globally.
Last year, the retailer unveiled its first loyalty program with the intent to tap into personalization capabilities to generate deals, increase engagement and improve the overall shopping experience.