There’s no denying what profound effect subscription boxes have had on consumption trends today. More people admit to choosing a subscription service that delivers products they use or want to try each month, versus going out and shopping brick and mortar stores for that purchase.
With the rise of giant online commerce platforms like Amazon and the ease of using mobile apps, we’re also continuing to new versions of subscription services be introduced constantly.
A report from McKinsey and Company found that subscription boxes experienced “explosive growth” from 2011 to 2016 with a 100 percent annual growth rate.
As this trend continues to grow, one of the major types of subscriptions people are turning to is the food and beverage category. Not only because it saves time and is convenient, but other unique options, like fully measured ingredients with recipes to create or foods that fit into a specific way of eating, can all be delivered directly to their door. There is also the opportunity to get certain regional or artisanal food or drink not available in a local area which is a major plus for some.
Think craft beers, artisanal cheeses, and cured meats. The list is endless.
The other great thing people find with subscription boxes for food and drink vs. just going online to shop for specific items when they need them is that they can get items that have been curated by experts who are choosing items they’ll likely enjoy without ever having known about them.
This “treat” element that is provided to consumers allowing the trend to continue moving forward with strong momentum.
For the companies offering the subscription services, this is also a great time to focus on building their brand and the experiences consumers have with their offerings as they’re seeking out new subscriptions to sign up for.
In addition to creating a unique value prospect for potential customers, it’s critical to have a subscription management service that works. One that involves minimal friction for the end-user and one that ensures monthly funds are deposited for the services without hiccups.
If you’re looking for a way to manage all your subscription service memberships, look no more. At Subscription DNA we have all of the management and robust reporting tools you need to manage and support your customer through their entire lifecycle.