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Subscription box market booms during pandemic
Consumers in London, West Midlands and Northern Ireland are most likely to be signed up to subscription services, according to the Royal Mail.
Almost half (45%) of Londoners are signed up to at least one subscription box, followed by 37% and 36% of shoppers in the West Midlands and Northern Ireland, respectively.
However, when it comes to the highest average number of subscription boxes per person, subscription box shoppers in the North East take top place at 5.2. Londoners come a close second signing up for 5 subscription boxes per person on average, followed by consumers in the East Midlands at 4.6. If you want to gain income from this data, information such as the best subscription box business ideas you can choose in 2022 would be crucial.
According to the Royal Mail’s UK Subscription Box Market report, just over three-quarters (76%) of subscription box shoppers are planning to either continue or increase their subscription services in the future. The report found the UK subscription box market is set to be worth £1.8bn by 2025.
According to Royal Mail’s research, the popularity of subscription boxes remains strong with high levels of loyalty. Fewer than a quarter (24%) of subscription box shoppers said they intended to cancel their subscriptions any time soon.
Retailers are also looking to make subscription boxes more popular by introducing more flexibility. For example, subscription retailers are increasingly looking to offer subscription box holidays for when the recipient either doesn’t need any more of that item or if they are going to be away.
Nick Landon, chief commercial officer at Royal Mail, said: “Subscription boxes have become a big part of many people’s lives over the last year and we expect this trend to continue. At Royal Mail, we are well placed to support businesses as they introduce or scale up their subscription box models.”
Joseph Robinson, retail consulting director at GlobalData, said: “The popularity of subscription boxes soared during the pandemic, amid the more general acceleration in online retail growth. Subscription services minimised the need to go to shops when consumers felt less comfortable doing so, a trend that is expected to continue post-Covid-19 as shoppers opt for convenience.”
