The Monocle Order is a new company that hopes to shake up the sunglasses industry and attract new male consumers with its innovative business strategy. The company offers men a membership into the club after an initial purchase of sunglasses at regular price. After that, designer sunglasses are discounted 50 percent for every subsequent pair.
In addition, the Monocle Order is also offering its customers both free shipping and free returns on sunglasses. This is a really innovative business model that might translate well with other products.
Implications - Consumers are daunted by the renewal process that constantly occurs in both the fashion and technology sectors. Business models that drive down price while keeping consumers on the cutting-edge are extremely attractive. Companies should consider drawing from the strengths of this business model.