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An exclusive company spotlight in the newly published RetailX Subscription Report 2024 looks at how Cocoon’s success stems from a steadfast focus on products built to last.

Established in 2019, Cocoon is a London-based circular high-end bag subscription service.

Its membership options include monthly, quarterly, and flexible plans, allowing members the freedom to swap bags at their convenience, adjusting the frequency of swaps or deciding to retain a bag for a duration spanning from a week to three months. Membership fees are tailored to the value of different bags within their collection.

Cocoon’s co-founder, Ceanne Fernandes-Wong, highlighted the company’s emphasis on designer items during an interview on the RetailX podcast last year. “Designer handbags are durable, well made and designed to last,” she said, “But how do you differentiate yourself when everything is increasing so much? For us, the focus is less on price point, but more on quality, and desirability. And so we have purposely focused on brands that we know will last.” Cocoon’s success, she says, stems from this steadfast focus.

Much of the appeal of services like Cocoon’s comes down to the universality of handbags, across genders and body types. Central to the company’s business model is the efficient turnaround time for rentals, with utilisation rate as a key performance indicator.

All bags in Cocoon’s inventory are owned by the company and each bag undergoes a thorough inspection and cleaning upon return to ensure pristine condition for subsequent rentals.

Currently, Cocoon subscription plans are priced at £79 per month for premium membership and £99 for deluxe membership. Premium membership grants access to bags valued up to £1,500, while deluxe membership extends access to bags ranging from £1,500 to £3,500. There is also a flexi option for £19 plus bag passes (£45 per week for premium and £55 for deluxe).

The SubscriptionX 2024 report, introduced at the RetailX Event’s Spring Festival, also includes in-depth case studies on Hotel Chocolat, Graze, Netflix and Gousto.

In our second edition of the Subscription Report, we explore consumer behaviour   and offer retailers invaluable insight into how they can add value with subscription offerings.

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