Nearly a decade after the first subscription box services hit the doorsteps of consumers, retailers are still working to get their heads around the significance of the industry’s rapid growth. It seems there is very little we cannot have delivered to our doors in a surprise-like box, as the industry has ballooned well beyond clothing and razors to delivering everything from dog treats to toys, plants, and even crystals, directly to consumers.
According to a recent Fast Company article, there were 3,500 subscription box services as of October of last year, an increase of 40% from the year before.
While subscription boxes are still a small slice of the overall retail industry, a growing number of consumers are planning to test drive a few. First Insight’s recent survey on subscription boxes, which was featured in USA Today, showed that 25% of respondents (both men and women combined) are currently receiving a subscription box, and another 32% of respondents plan to subscribe in the next six months.
And it’s not just the hipsters getting on board. While millennials unsurprisingly lead the way (31% currently subscribed and another 38% planning to in the next six months), even baby boomers are signing up. Although only 8% of baby boomers currently subscribe, 22% plan to do so in the next six months.Read the Full Article at Forbes