The way we shop for everything has changed dramatically over the past few years and there is now a subscription service for just about everything. Colgate has decided to go direct to consumers instead of just selling in stores. According to The Wall Street Journal, Colgate is nearing a potential deal to purchase a minority stake in the contact lens subscription service Hubble.
With this arrangement, Hubble would create subscriptions for Colgate products so you could get your oral care supplies delivered right to your door on a regular basis. The idea of an oral care subscription is new for the dental industry but there are plenty of other industries that have been doing this with great success.
Subscription services for razors like Dollar Shave Club and Harry’s have forced retail razor bands like Gillette to adapt by lowering their prices. Colgate is looking to make this move preemptively before they’re put into the position Gillette found themselves in. Colgate has suffered from pretty stagnant growth over the last few years so they’re motivated to make some serious changes.
Subscription services have been getting a lot of attention from large companies in recent years. The personal care giant Unilever acquired Dollar Shave Club for a whopping $1 billion in 2016.
So what does this mean for you?
First, it means that getting oral care supplies will be made much easier and cost-effective. You won’t have to drive to a store to pick up your toothpaste or mouthwash and Colgate won’t have to spend as much on their supply chain to get their products in front of you on store shelves.
Subscription services almost always pair convenience with cost savings so this is great news for you. The prices of Colgate’s subscriptions has not been disclosed yet, but if they follow in the footsteps of other subscription companies, you can expect this to be a cheaper way to get the oral care supplies you need.
It’s possible that Colgate will expand its product selection even further once the subscription service is up and running. It has been speculated that this might include pet care products as well.
The ability for someone to create a subscription-based business that makes a behemoth like Gillette lower their prices is very exciting. This level of competition results in you getting lower-priced products in more convenient ways so we look forward to seeing how Colgate’s subscription business will work and how this will further change the oral care industry!