Relo has teamed up with Triple Whale to interview some of the best teams behind a collection of the fastest-growing eCommerce brands across the world. The series will focus on how they've overcome challenges, key lessons learned on growth strategies, and how they're preparing resources for the next 12 months. Hope you enjoy!
As a CBD brand, we’re constantly faced with challenges; from advertising to NPD to payment providers. This year, on DTC we’re focused on improving CAC:LTV, and launching a subscription programme has been a large part of that.
Whilst typically fairly straightforward to set up, we spent the best part of H1 hustling to enable subscription, restricted for CBD brands, and there was a brief moment where we were considering moving our entire website platform.
And on that... TRIP subscriptions are launching this summer!
TRIP grew +600% on our UK website last year and 2023 started well, growing at +800%. We’re constantly testing and diversifying our channel mix because the digital landscape is ever changing. There was a point in our growth phase last year where 95% of our customer acquisition came from a single channel and so diversifying has made us less vulnerable in that respect.
In 2022 we had 88% market share of CBD drinks in the UK, we’re the fastest growing Soft Drink in the UK (Nielsen Total Market Value sales) and the fastest growing British FMCG brand (British Brands over £10M+ revenue).
Our mission is to help the world manage stress and anxiety through the power of plants, and there’s a huge appetite for it. Millions of people are searching for feel-good products to relieve the stresses of daily life and that’s exactly why so many are turning to CBD drinks.
We’ve an incredibly loyal customer base, a ‘cult community’ as Vogue called it, and so engaging those advocates would be the focus, whether through referral, subscription, loyalty or NPD.
Last summer we launched our Take a TRIP Cooler and sold a summer’s worth of stock in one weekend. We’ve also found gifts with purchase great for conversion and increasing AOV. However, the team and I are confident that launching subscriptions this summer is going to be a game-changer for LTV.
Scaling ‘too fast’? We saw double digit growth MoM for the first half of 2022, far beyond our forecasts and expectations, which sounds great, until we were at the height of British summer, during the heatwave, when demand outran supply. Thankfully we’ve now got a fully fledged Ops team who keep us accountable with supply planning.
I mentioned that as a CBD brand we’re constantly faced with challenges, but in my opinion, it’s one of the reason’s TRIP’s been so successful. We have no choice but to adapt fast and stay agile.
We’re constantly testing and diversifying our channel mix because the digital landscape is constantly changing. There was a point in our growth phase last year where 95% of our customer acquisition came from a single channel and so diversifying has made us less vulnerable in that respect.
That’s specifically for DTC but we also have a vast retail distribution with over 20,000 UK listings which is hugely significant.
This interview was created as part of the Relo X Triple Whale eCommerce Leaders Series, where we interview some of the fastest growing eCommerce brands to understand their strategies and learnings. Relo is a repeat-revenue platform for eCommerce brands to increase reorders and subscribers, whereas Triple Whale is an eCommerce analytics platform to have a holistic view of every metric in your business. If you're interested in learning more, you can book in to chat with Relo here, or Triple Whale here.