Subscription Boxes See Record Growth During Pandemic
The widespread pandemic has impacted all global sectors. Factors such as lockdowns and the health crisis have prompted consumers to alter their shopping habits, prompting companies to quickly adapt to the new way of life. Businesses that are looking to survive the pandemic have been forced to shift to online operations.
With many consumers confined in their homes coupled with limited in-store shopping options, there has been a marked shift towards the subscription economy. According to a recent impact report by Zuora on subscription boxes, 22.5% of companies have seen a significant rise in their subscriptions.
From the subscription boxes, consumers can conveniently receive products tailored to their preferences. This could be anything you can think of be it food, drinks, makeup, books, pet items and even furnishings.
Even with the economic hardships leading to financial strains among households, subscription boxes have enhanced consumers to have steady access to their favourite products and services, hence offering a sense of routine and normalcy.
Given that many businesses have shifted their operations to online platforms, subscription providers have experienced a competitive market that has faced conversion problems alongside the need to offer customized and flexible plans. For people considering to end their subscription due to financial problems, subscription providers have been forced to offer discounts and review their prices.
So, what are subscription boxes?
You probably have come across the term subscription box. Well, this is a delivery done at an agreed period between the service providers to customers entailing several products as per consumers’ preferences. While some people would prefer a one-off purchase or a timed purchase, ranging up to even a year, others a continuous subscription which gives them the need to look forward to it. Usually ordered via online platforms, subscription boxes have become popular with the pandemic.
Subscription boxes are physically delivered to customers. While they can be done through membership registrations, they can also be arranged via recurring subscriptions. The products must be unique and offer value, which differentiates subscription boxes from other consumer goods. Also, the presentation should be presentable with many providers featuring stickers, quality packaging and custom inserts.
Interested in subscription boxes? Here are among the most popular items available.
In the UK, consumers with an average of seven persons in a household spend approximately £46 on subscriptions per month and £552 per year. With these promising figures, many online retailers resulted in launching subscription services during lockdowns.
The lockdown came with the closure of outdoor entertainment options. As a result, entertainment subscriptions increased and were the most demanded among other subscription boxes.
Food and meal subscriptions followed in being the most demanded subscription boxes. While this can be attributed to many people working from home, the inaccessibility of physical stores due to health risks from the virus led to this rise. For instance, newbie deals have seen a huge growth in subscription box listings. Among these include meal boxes and wine tasting kits.
With people more concerned about their health compared to the previous year, health subscriptions soared. Items such as health supplements have been on demand since the onset of the pandemic.
The demand for on-trend grooming services including clothes and beauty product subscriptions has also increased since the pandemic began.
Another popular subscription is the book subscription boxes. With the closure of schools in a bid to control the spread of the coronavirus, book subscription services have also seen increased demand. Books have been proven to combat anxiety and loneliness. They are also a great distraction avenue while also providing knowledge to the readers. Most book lovers opt for monthly book deliveries. With many people still confined in their homes and cases in mental health issues repreported on the rise, the book subscription boxes are likely to increase even more. They are available both for adults and children.
If you would like to try out some subscription boxes, you should give newbies.com a shot. For starters, newbie deals offer a variety of subscriptions, from food, drink, wellness, entertainment, finance, and pets, just to name a few. You get to have your choice of subscription seamlessly delivered right to your home. For a smooth time in lockdown, get to try the recipe boxes, prepared meals, beverages and even baking subscription boxes. Also, you could be lucky to catch some discounts.
You can also choose to gift friends or loved ones a subscription box. If unsure what products to get, you can get a voucher. This allows the recipient to choose the kind of box they would like.
Are the subscription boxes trend sustainable?
While the value proposition behind subscription services has been heightened during the pandemic, many may wonder whether this trend is sustainable. Most, however, believe that the current crisis will only lead to a further shift of the global economy towards subscription models and digital services. So, yes. The trend in subscription boxes is sustainable, provided the world adopts an online-based trend. Be sure to give subscription boxes a try!