WHOOP have recently changed the pricing model of the WHOOP Strap 2.0.
In an interesting move, WHOOP have changed away from a one-off purchase price of $500 to a monthly subscription of $30/month (minimum 6-month commitment). Additional straps and apparel are still available for purchase on their site…but not the WHOOP BAND 2.0.
The mathematically minded amongst you will notice that if WHOOP can retain a subscriber for more than 18 months then they may well have a more profitable model than before with a nice longterm revenue stream which would probably also add a good degree of predictability to the company’s ongoing cashflow.
The lower-priced entry-point might also attract customers intrigued to ‘give it a go’.
Clearly, also, it incentivizes the company to protect that revenue stream by offering innovation and great service. As, after the initial 6-month commitment, the customer would be able to cancel the subscription.
Many of readers of this blog will be in the endurance sports industry and appreciate the benefits of a product like WHOOP, whose aims include monitoring of stress & recovery. Yet the WHOOP Strap’s main customer base seems to have come from its marketing through major US sports in MLB and Basketball. High profile names have various associations with WHOOP Review including LeBron James, Michael Phelps and Kevin Durant
Whoop review below and whoop.com.
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Whoops… marketing.
I can see the appeal of the whoop band. I do a mixture of running strength and basketball and there is no real wearable covering this mix. I use a fenix 3hr which is way to clunky to wear during basketball even if you cover it with a sweatband.
The business model change is also quite interesting since they are out to compete against specialised software platforms cooperating with hardware makers. So lowering the entry barrier and banking on customer satisfaction seems like the way to go.
Only downside is that they aren’t available outside the US 🙁
So after the 6 months do you have to send the device back or since you no longer have the subscription it becomes useless?
i guess they’d want it back but don’t know. if they want it back who pays for the return? then is there a market for recon units. but who would pay for those on a subsciption. maybe you keep it after all.