Introduction
Subscription boxes are leading gifting
experiences for families worldwide. The industry is booming with hundreds of
subscription boxes to choose from. You can get exciting best subscription boxes Canada for different occasions such as kids
birthdays, gifts for your dad, meal boxes, anniversary and so much more at
affordable prices.
Subscription
box service facts
Subscription boxes are booming at 100%
growth every year. Global sales are nearly $2.6 billion which was nearly $57
million in 2011. More than 7000 subscription boxes companies are operating
worldwide with 70% of the subscription boxes originating from the US. Gartner,
the global research and advisory company says that by 2023, 75% of companies selling
directly to customer will offer some type of subscription based service.
Trend #1:
Experience will rule
As per McKinsey, customers are expecting
desirable end to end experiences and are committed to best subscription boxes
Canada services where the recurring benefits like personalization and reduced
costs are part of the subscription. The definition of the experience is defined
by the customer and for subscription boxes it is important for them to
understand their customers unique needs and desires.
Trend #2:
Men will order more subscriptions
McKinsey discovered that men between the
ages of 25-44 with income levels between $50,000-$100,000 are likely to order a
subscription box. They also found women make up more than 60% of subscription
box subscribers while men make up 42% of subscribers. Men will likely order 3 subscriptions such as
Barkbox, Dollar Shave Club and Harry's. As per a survey, more than 30.6% of men
sign up for subscription box services as compared to 24.3% of women.
Trend #3:
Traditional retailers will continue to venture more into subscription boxes
Wal-Mart and Target have decided to dive
into women make-up beauty box subscriptions. Subscription boxes can provide a
lifeline to the struggling retailers and can become major players in the
business. Amazon alone has decided to start 18 different types of subscription
boxes.
Trend #4:
Quality will win over quantity
Subscription box subscribers want
personalization for best subscription
boxes Canada. For a great box less is better as too many products can
reduce interest in and result in a consumer cancelling the subscription box for
what they don’t want. On one hand,
offering multiple products in a subscription box is suitable for indecisive
people but overall quality is the prime concern for customers.
Trend #5:
Niche products will continue to reign
Niche
products such as coffee, tea or comic books are in much demand for consumers
and account for about 15 % of the total market size. Niche products such as
lingerie, hosiery and period boxes account larger than fashion and clothing.
Trend #6: Personalization will be the king
As per
McKinsey, 3 subscription boxes will remain on the top:
Replenishment: These types of subscription boxes offer ready products such
as Billie a female shaving company.
Curation:
these boxes are personalized and offer customized products based on customer
preferences such as Birchbox. This is the most popular category of subscription
boxes.
Access:
These offers exclusive discounts and selection on products one would normally
buy in a store, like products for your pets.
As per a
report by McKinsey, 28% of respondents said personalization was the most
important factor for selecting a subscription box.