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On issue #24 of the One Thing, I've talked about Direct-to-Consumer (DTC) startups flocking towards the subscription model. Well, today I'm going to talk about an opportunity I see in the DTC space. DTC refers to selling products directly to customers, bypassing all the retailers and middlemen. DTC brands normally sell niche products online and these brands are now disrupting multibillion-dollar industries. Just like how Dollar Shave Club did with razors. Casper did with mattresses. And Warby Parker did with glasses.
Now here's another multibillion-dollar industry that's on the verge of being disrupted: Drugstore commodity.
💡 The Idea
Modernize the boring but essential pharmacy items such as first aid bands 🩹 and vitamins 💊 and go DTC
🔨 The Opportunities
- First aid bands have looked the same for as long as they existed - skin colour. And so does the first aid kit box, I don't know why but every time I see one, it's either a rusty metal box with a red plus sign on it or a Danish biscuit tin container
- What you could do is you could create bold and playful designs for first aid bands and kit box. You could also leverage pop culture and provide themed kits. Welly, a DTC startup of premium first aid is currently doing this
- But who wants a colourful bandage? The same thing could be said to socks, it used to be just white or black socks but right now people like to mix it up by pairing colourful socks with their suits
- The adult-focused kits also present attractive opportunities. Camping has recently made a comeback, you could go niche by creating camping themed first aid kits and target this specific market
- Beyond first aid, you could also consider personalized DTC vitamins. Now we know for sure that there's a demand for supplements because if not, MLM companies won't still be around
- Just like how StashAway curates a personalised portfolio for you based on your goal, you could create a more modernized website where people could shop supplements based on their health goal. And the best part is, you wouldn't need to reinvent the vitamins, you just need to change the packaging. Care/of is currently testing out these waters in the personalized vitamin space
Going Direct-to-consumer takes more than just quality products. It's all about creating transparent and memorable interactions with your potential customers. People want to be part of the story that you're trying to tell. In other words, it's all about branding and whether people relate themselves to your brand.
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