This year for Small Business Week, Cratejoy is highlighting a different aspect of owning and running a subscription box company. Each day, we’ll feature a different merchant that excels in a specific area of subscription business.
Day two is all about product sourcing and procurement, so we interviewed Ting-Ting Jang, the CEO and founder of TheraBox, to talk to her about how they’ve succeeded in curating unique and healing self-care boxes month after month.
What tactics do you use to curate unique boxes each month?
We love Etsy sellers, so we are always browsing Etsy for new inspiration. Also, we gain a lot of inspiration from international products and enjoy seeing how other countries engage in self-care.
How do you avoid sending items that are similar month after month?
We ensure we include different brands each month, and we never repeat similar style/product from 1-2 previous months.
What roadblocks or issues have you faced while sourcing products?
As we grow, it’s harder to work with Etsy sellers, and we have had to learn how to transition to mid-size businesses. It’s very different than working with small businesses, as it often is less personal.
What recommendations do you have for new companies in regards to product sourcing?
Always try to source at least 3 months in advance and have a back up plan! There will always be issues, so be sure to schedule your products to arrive at least 10 days before scheduled ship date.
How do you handle forecasting and how has that process changed as you’ve grown?
I handle forecasting by using Cratejoy’s features to project next month’s sales (i.e. seeing when/amount of gift subscriptions that are set to expire in a given month, and using analytics to figure out my general growth rate). I’d say it’s worked great so far, and I’ve never had excess stock!
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