The announcement comes not long after competitor One Drop began rolling out its similar offering in Apple Stores and Walmarts.
DarioHealth is the latest to bring its mobile-friendly glucose management system to store shelves, with the company announcing today that it will be bringing its so-called “Membership-in-a-Box” to physical retail chains like Best Buy.
The offering, already available through Best Buy’s online storefront, consists of the company’s connected blood glucose meter, 25 test strips, 10 lancets, 10 covers and a three-month membership consisting of DarioHealth’s digital management offering and comped resupply shipments (as determined by usage logged in the app). This membership also includes the company’s digital personal coaching and education features.
The starter kit currently runs for $69.99 on Best Buy’s marketplace, although DarioHealth’s announcement does not mention whether this price will be adjusted at all for the in-store offering.
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The company also did not specify in its announcement which retail stores other than Best Buy would be carrying the product, although CEO Erez Raphael did note in the company’s most recent earnings call that DarioHealth had also made an arrangement with supermarket chain Giant Eagle.
WHY IT MATTERS
On-shelf offerings of the connected glucose management hardware and service have an opportunity to reach a new slice of the market that may not actively be seeking digital diabetes support, especially if the products are being displayed in non-electronics stores. But even with this announcement the company has remained consistent in promoting a software-as-a-service business model, and notes that 75% of memberships sold through its app are renewed by users.
“We believe that Dario’s membership has great success because it offers simplicity, continuity and peace of mind to users for a low price. All Dario memberships include an unlimited, automated supply of test strips and the premium memberships include unlimited access to a personal Dario coach,” said Olivier Jarry, President and CCO, DarioHealth. “By selling our membership in physical stores, we hope to increase Dario’s reach to the millions of consumers who visit Best Buy each year while potentially increasing our recurring revenue streams.”
THE LARGER TREND
DarioHealth’s new strategy falls right in line with its competitor One Drop, which announced during the summer that certain US Apple Stores would begin carrying its wireless blood glucose monitor. In early October, the company revealed additional plans to bring its offering to “hundreds” of Walmart retail locations in the US.
The new option for consumers comes alongside a broader push at DarioHealth to expand its B2B operations across self-insured employers, clinics, providers and retail. During the most recent earnings call, Raphael made specific mention of these retail agreements with Best Buy and Giant Eagle, as well as a “few more in the pipeline.”
Source: Mobihealth News
