One of the latest and greatest crazes to hit the internet in the last couple of years has been the online shopping and subscription niche. Subscription shopping allows members to sign up with a website and receive automatic deliveries of their products delivered to their doorstep. One of the companies that have helped carve out this new niche, and make it into a success, is JustFab. JustFab is an online subscription retailer of shoes, bags, and accessories that have been very popular with women since its launch just a few years ago.
In an article by The L.A. Times, it is noted that they have built their customer base up to over four million members. Due to the wild and expanding success of JustFab, subscription companies offering up everything from razors to food are popping up every day. However, many of them are not doing as well as JustFab. The L.A. Times reports that many of them are actually “losing steam” rather than gaining the market share. They reported that “In the first quarter of 2016, funding in this category plunged to $35 million, an 11-quarter low, according to CB Insights. Buzzed-about services such as Beachmint have closed. Beauty retailer Birchbox laid off 12% of its employees last week, the second round of steep cuts this year”. That is a dramatic turnaround from the recent history of companies like these.
For years the company JustFab has had to combat complaints from customers about the site and its level of user-friendliness. Some have even slammed the company by calling it a scam. However, all reports indicate that the JustFab is continuing to do well. In fact, ever since it the company’s valuation climbed past the billion dollar mark, more than two years ago, it has been clear that they have no immediate threat to loss of business. Adam Goldenberg, one of the company’s co-founders, says that he believes the company is on track to continue to move up and gain additional market share. Due to their success, Goldenberg says that the company is planning to go in the direction of an IPO. However, he has declined, as of now, to provide any official date or timeline for that move.
If you are interested in learning more about JustFab, becoming a member of their subscription service, or browsing their products, you can do so by visiting their website and at this site https://www.facebook.com/justfab/