The Latest Subscription Box Industry Statistics Explained
The global subscription boxes market was valued at approximately $13.19 billion in 2018.
The statistic indicating that the global subscription boxes market was valued at roughly $13.19 billion in 2018 reflects the substantial financial size and growth of this industry within a specific timeframe. Subscription boxes refer to a business model in which customers subscribe to receive a curated selection of products regularly, often on a monthly basis. The market value provided suggests the total revenue generated by companies offering subscription boxes during the specified year, indicating a significant level of consumer interest and spending in this sector. This statistic serves as a key indicator of the market’s size and economic impact, highlighting the popularity and market potential of subscription box services within the global retail landscape.
The majority of consumers (55%) who sign up for subscription boxes choose services that provide clothing or fashion items.
The statistic indicates that 55% of consumers who opt for subscription boxes are most interested in services that offer clothing or fashion items. This suggests a significant preference among consumers for fashion-related products when signing up for subscription box services. This information is valuable for businesses in the subscription box industry, as it highlights the popularity of clothing and fashion items among consumers. Companies operating in this space could use this statistic to tailor their offerings and marketing strategies to better meet the demands and preferences of their target audience.
13% of subscription box companies have a customer retention rate of 6 months or less.
This statistic signifies that 13% of subscription box companies experience challenges in retaining customers for an extended period, specifically with a retention rate of 6 months or less. This suggests that a significant portion of subscription box companies struggle with maintaining long-term customer relationships, which can have implications for their overall business success and sustainability. Possible reasons for this lower retention rate could include issues with the quality of products or services offered, lack of personalized experiences for customers, ineffective marketing or communication strategies, or increased competition within the subscription box industry. Addressing these underlying factors could potentially help subscription box companies improve customer retention rates and enhance their overall business performance.
About 45% of subscription boxes are curated for individual preferences.
The statistic “About 45% of subscription boxes are curated for individual preferences” indicates that nearly half of subscription box services tailor their offerings to the specific preferences and interests of their customers. This suggests a growing trend in the subscription box industry towards personalized and customized experiences, catering to individual needs and tastes. By curating the contents of the boxes to align with the unique preferences of subscribers, companies are likely aiming to enhance customer satisfaction and loyalty, as well as differentiate themselves in a competitive market. This statistic highlights the importance of personalization in the subscription box model as a strategy for meeting the diverse and evolving demands of consumers.
As of 2019, start-ups in the subscription box space have raised over $1.6 billion in venture capital since 2012.
This statistic indicates that the subscription box industry has experienced substantial growth and investor interest in recent years. The data suggests that start-up companies operating in the subscription box space have collectively secured a significant amount of venture capital funding, totaling more than $1.6 billion by the end of 2019. This influx of funding illustrates a strong belief in the potential and viability of subscription box business models by investors. It highlights the attractiveness of the subscription box market, where companies send curated boxes of products to customers on a recurring basis, often offering personalized and convenient experiences. The statistic showcases the growth and demand for subscription box services and the willingness of investors to back such ventures in hopes of capitalizing on this trend.
The average monthly spend on subscription boxes is around $30.
The statistic states that on average, individuals spend approximately $30 per month on subscription boxes. This indicates the typical amount of money people allocate towards recurring monthly purchases of curated products or services. The average spend of $30 provides insight into consumer behavior and preferences regarding these subscriptions. It suggests that this amount is considered a reasonable investment for individuals who are interested in receiving a variety of products regularly without having to actively shop for them. Overall, this statistic sheds light on the average financial commitment individuals make towards subscription boxes on a monthly basis.
Men are more likely than women (42% vs 28%) to have three or more active subscriptions.
The statistic presented indicates that men are more inclined to have three or more active subscriptions compared to women. Specifically, 42% of men reportedly have three or more subscriptions, while only 28% of women have the same. This discrepancy suggests a gender disparity in subscription behavior, with men demonstrating a greater tendency towards multiple subscriptions. Possible explanations for this difference could include variations in spending habits, interests, or usage patterns between men and women. Further analysis could delve into the specific types of subscriptions preferred by each gender and explore the underlying factors driving these differences in subscription behavior.
Up to 18% of online shoppers have one subscription box, and 15% have more than one.
This statistic suggests that a significant portion of online shoppers, up to 18%, subscribe to at least one subscription box service. Additionally, approximately 15% of online shoppers go a step further and have more than one subscription box. This data highlights the popularity and growing trend of subscription box services among consumers, indicating that a notable percentage of online shoppers are opting for the convenience and novelty these services offer. The findings also emphasize the potential for businesses to tap into this market by offering diverse and appealing subscription box options to cater to the preferences and interests of different consumer segments.
As of 2019, approximately 38% of subscription boxes were sourced using mobile devices.
The statistic indicates that in 2019, around 38% of subscription boxes were purchased or acquired through mobile devices such as smartphones or tablets. This suggests a significant portion of consumers preferred using their mobile devices to subscribe to various products or services offered through subscription box services. The data points to a growing trend of mobile commerce in the subscription box industry, highlighting the importance for businesses operating in this sector to optimize their online platforms for mobile users. With an increasing number of people using mobile devices for online shopping, understanding and catering to this segment of the market is crucial for subscription box providers looking to attract and retain customers.
One in three respondents (33%) prefer bi-monthly subscriptions.
The statistic ‘One in three respondents (33%) prefer bi-monthly subscriptions’ indicates that out of the total participants surveyed, approximately 33% expressed a preference for receiving subscriptions on a bi-monthly basis. This finding suggests that there is a sizable portion of the population that finds bi-monthly subscriptions desirable compared to other subscription frequencies. Understanding this statistic can be valuable for businesses and marketers in tailoring their subscription offerings to better align with consumer preferences and increase the likelihood of customer satisfaction and retention.
Approximately 15% of online shoppers have signed up for one or more subscriptions to receive products on a recurring basis.
The statistic that approximately 15% of online shoppers have signed up for one or more subscriptions to receive products on a recurring basis indicates the prevalence of subscription-based services in the online shopping industry. This data suggests that a significant portion of online consumers appreciate the convenience and benefits associated with subscription models, such as regular delivery of products without the need for repetitive ordering or shopping trips. This trend may reflect a shift towards more personalized and convenient shopping experiences, as well as the growing popularity of subscription services across various industries. Companies in the e-commerce sector can leverage this information to tailor their marketing strategies and offerings to cater to the preferences of consumers who are drawn to subscription-based products and services.
The subscription e-commerce market has grown by more than 100% percent a year over the past five years.
This statistic indicates a significant and rapid growth trend in the subscription e-commerce market over the past five years. The statement “grown by more than 100% a year” implies that the market size has doubled each year on average during this period. This substantial growth rate suggests a strong demand and interest in subscription-based services within the e-commerce sector. Companies operating in this market have likely experienced rapid expansion and increased revenue streams, driven by factors such as convenience, personalized offerings, and recurring revenue models. The statistic highlights a prominent opportunity for businesses to tap into the growing subscription e-commerce space and adapt their strategies to capitalize on this trend.
Subscribers are often young, affluent urbanites: 60% are between the ages of 18 and 39, 62% have incomes from $50,000 to $100,000, and 55% live in the “dense urban” areas of the Northeast and West Coast.
The provided statistic suggests that the subscriber base of the mentioned service or product is predominantly composed of a specific demographic profile characterized as young, affluent urbanites. This is evidenced by the fact that a substantial majority, 60%, of subscribers fall within the age range of 18 to 39. Furthermore, a significant portion, 62%, have incomes ranging from $50,000 to $100,000, indicating a higher level of disposable income among subscribers. Geographically, a majority of 55% reside in “dense urban” areas on the Northeast and West Coasts, reflecting a preference for urban living environments. Overall, these data points collectively paint a picture of the typical subscriber as a young, financially comfortable individual residing in densely populated urban areas, which can be valuable information for marketing and targeting strategies.
As of 2021, there are more than 10,000 subscription box services available.
The statistic that as of 2021 there are more than 10,000 subscription box services available indicates a significant growth in the popularity and diversity of this business model. Subscription boxes have gained traction in recent years due to their convenience and ability to cater to niche markets by offering curated products and experiences on a recurring basis. The sheer number of subscription box services highlights the competitiveness of the industry and suggests a high level of demand from consumers looking for personalized and convenient shopping experiences. This statistic underscores the evolving nature of the retail landscape as companies seek innovative ways to engage with customers and differentiate themselves in a crowded marketplace.
34% of Americans believe they will increase the number of subscription services they use in the next 2 years.
The statistic that 34% of Americans believe they will increase the number of subscription services they use in the next 2 years suggests a prevalent trend towards a growing reliance on subscription-based services among the American population. This statistic indicates a significant portion of the population anticipates expanding their usage of services that require recurring payments within the next couple of years. The data points to a shift in consumer behavior towards a more subscription-centric consumption model, driven perhaps by convenience, affordability, or the increasing availability of subscription options across various industries. This insight can be valuable for businesses looking to capitalize on this trend and adapt their offerings to meet the evolving consumer preferences in the subscription service market.
Over the past year, there has been a 3,000% growth in the search interest for “Subscription Boxes”.
The statistic indicates a significant increase in the popularity of “Subscription Boxes” over the past year. A 3,000% growth in search interest suggests a substantial surge in the number of individuals seeking information about or actively looking to purchase subscription boxes. This trend may be indicative of a shifting consumer preference towards subscription-based services or products, signaling a potential opportunity for businesses operating in this market to capitalize on the increased demand. The sharp increase in search interest could also be influenced by various factors such as changing consumer behavior, marketing efforts by subscription box companies, or a wider trend towards convenience and personalized shopping experiences.
References
0. – https://www.www.forbes.com
1. – https://www.www.bigcommerce.com
2. – https://www.www.2checkout.com
3. – https://www.www.mckinsey.com
4. – https://www.www.researchandmarkets.com
5. – https://www.www2.deloitte.com
6. – https://www.www.businessoffashion.com
7. – https://www.www.supermarketnews.com
8. – https://www.www.vox.com
9. – https://www.www.businessinsider.com
10. – https://www.www.cnbc.com
11. – https://www.trends.google.com
