After launching online direct-to-consumer in November 2017, Hims & Hers’ first incursion into physical retail came in March 2020 with Target
ForHims.com also offered prescription treatment options for premature ejaculation, herpes and dermatology, along with access to a primary care physician for other non-critical health needs. ForHers.com came online a year later offering similar online access for primary care, as well as women-centric treatments.
“We are building a brand that is a trusted front door to healthcare,” Dudum says. For example, a primary-care consultation is only $39 and conducted near instantaneously online. The company’s telehealth consultations have grown from 431k in its first year 2018 to 4.6 million at the close of third quarter 2021.
Through third quarter, Hims & Hers filled 3.8 million net online orders with 36% being subscriptions. However, the company doesn’t report the revenue derived from subscriptions.Just like its early ED ads posted in subways and above urinals in sports stadiums, every bottle of Hims & Hers products at retail are a way to spread its message further. In 2021 it shipped nearly 1.5 million retail SKUS, nearly doubling the 850k shipped in 2020.
Through third quarter, wholesale revenues remain a tiny fraction of total sales, only 3% or $6.3 million compared with $181 million generated online. And he highlights the long-term value of its subscription model. It took Hims & Hers three years to grow subscription sales from its 2018 cohort of subscribers to a total of $383, whereas in 2021, one-year subscribers had nearly reached that level.
France Dernières Nouvelles, France Actualités
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