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Why Bevel's Business Model is so successful?

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Bevel’s Company Overview


Bevel is a groundbreaking personal care brand that specializes in grooming products tailored for people of color. Founded in 2013 by Tristan Walker, Bevel is a part of Walker & Company Brands. The company's primary focus is on creating products that solve health and beauty problems for underserved markets. Bevel's product line includes a comprehensive range of items, from shaving products and skincare to hair care solutions, all designed with the unique needs of its target demographic in mind. Bevel is committed to promoting positive representation and inclusivity in the beauty industry, and its innovative products have been recognized with several industry awards for their quality and effectiveness. Business Model: Bevel operates on a direct-to-consumer business model, leveraging digital channels to reach its target audience. The company's products are sold primarily through its online platform, but are also available in select physical retail stores. Bevel's approach is customer-centric, strongly emphasizing education and community building. The company provides detailed how-to guides, grooming tips, and educational content to help customers achieve the best results with its products. Bevel also fosters a sense of community through its social media platforms, encouraging dialogue, sharing customer testimonials, and highlighting positive representation in the beauty and grooming industry. Revenue Model: Bevel's primary revenue source comes from selling its grooming and personal care products. The company offers individual products as well as subscription-based services. Customers can purchase Bevel products a la carte or opt for a subscription service, which delivers a curated selection of products to their doorsteps on a recurring basis. This model ensures a steady stream of recurring revenue for the company. Additionally, Bevel generates revenue from its partnerships with select physical retail stores, where its products are made available to a broader customer base.

https://getbevel.com/

Country: California

Foundations date: 2013

Type: Private

Sector: Consumer Goods

Categories: Beauty


Bevel’s Customer Needs


Social impact:

Life changing: affiliation/belonging

Emotional: design/aesthetics, badge value, wellness, attractiveness

Functional: quality, variety, informs


Bevel’s Related Competitors



Bevel’s Business Operations


Customer loyalty:

Customer loyalty is a very successful business strategy. It entails giving consumers value that extends beyond the product or service itself. It is often provided through incentive-based programs such as member discounts, coupons, birthday discounts, and points. Today, most businesses have some kind of incentive-based programs, such as American Airlines, which rewards customers with points for each trip they take with them.

Customer relationship:

Due to the high cost of client acquisition, acquiring a sizable wallet share, economies of scale are crucial. Customer relationship management (CRM) is a technique for dealing with a business's interactions with current and prospective customers that aims to analyze data about customers' interactions with a company to improve business relationships with customers, with a particular emphasis on retention, and ultimately to drive sales growth.

Digital:

A digital strategy is a strategic management and a business reaction or solution to a digital issue, which is often best handled as part of a broader company plan. A digital strategy is frequently defined by the application of new technologies to existing business activities and a focus on enabling new digital skills for their company (such as those formed by the Information Age and frequently as a result of advances in digital technologies such as computers, data, telecommunication services, and the World wide web, to name a few).

Direct selling:

Direct selling refers to a situation in which a company's goods are immediately accessible from the manufacturer or service provider rather than via intermediate channels. The business avoids the retail margin and any extra expenses connected with the intermediaries in this manner. These savings may be passed on to the client, establishing a consistent sales experience. Furthermore, such intimate touch may help to strengthen client connections. Finally, direct selling benefits consumers by providing convenience and service, such as personal demonstrations and explanations of goods, home delivery, and substantial satisfaction guarantees.

eCommerce:

Electronic commerce, or e-commerce (alternatively spelled eCommerce), is a business model, or a subset of a larger business model, that allows a company or person to do business via an electronic network, usually the internet. As a result, customers gain from increased accessibility and convenience, while the business benefits from integrating sales and distribution with other internal operations. Electronic commerce is prevalent throughout all four main market segments: business to business, business to consumer, consumer to consumer, and consumer to business. Ecommerce may be used to sell almost any goods or service, from books and music to financial services and airline tickets.

Ecosystem:

A business ecosystem is a collection of related entities ? suppliers, distributors, customers, rivals, and government agencies ? collaborating and providing a particular product or service. The concept is that each entity in the ecosystem influences and is impacted by the others, resulting in an ever-changing connection. Therefore, each entity must be adaptive and flexible to live, much like a biological ecosystem. These connections are often backed by a shared technical platform and are based on the flow of information, resources, and artifacts in the software ecosystem.

Product innovation:

Product innovation is the process of developing and introducing a new or better version of an existing product or service. This is a broader definition of innovation than the generally recognized definition, which includes creating new goods that are considered innovative in this context. For example, Apple launched a succession of successful new products and services in 2001?the iPod, the iTunes online music service, and the iPhone?which catapulted the firm to the top of its industry.

Subscription:

Subscription business models are built on the concept of providing a product or service in exchange for recurring subscription income on a monthly or annual basis. As a result, they place a higher premium on client retention than on customer acquisition. Subscription business models, in essence, concentrate on revenue generation in such a manner that a single client makes repeated payments for extended access to a product or service. Cable television, internet providers, software suppliers, websites (e.g., blogs), business solutions providers, and financial services companies utilize this approach, as do conventional newspapers, periodicals, and academic publications.

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