Infograph: Subscription Box Growth Trends
If you are a drinks brand with an online shop, then chances are you’ve thought about selling your drinks via repeat subscription. Or you’ve already setup a subscription selling option but you’ve not yet pushed it with a dedicated marketing approach.
When I looked at the latest stats recently, I was pleasantly surprised to see how this mode of selling has rocketed in the UK for a wide range of boxed products. But equally, I am disappointed to see many independent drinks brands still failing to properly grasp this opportunity. Securing regular repeat purchasing customers is one of the Holy Grail’s of sales and marketing, so greater focus on this sales approach has to be a no-brainer.
As you’ll see here in my latest infographic, growth via subscription sales doesn’t look like stopping any time soon. The logistics company Whistl, who conducted this research, reported that this growth has created a market that is now worth £395 million annually and is expected to surpass £1.8 billion by 2025. This will result in an expected annual growth rate of 23%.
It’s a reality that the cost of living crisis is actively encouraging people to rein in their spending. Research indicates people are already cutting back on hospitality visits. But I suspect, as we saw during the Covid-era, people will still want to invest in brands that provide added value. For the drinks sector, that may relate to more products with added functional features that support wellbeing and relaxation or that create a heightened home entertaining or home treat experience. Buying direct from the producer should also offer people better value and a greater feeling of connection with the brand.
If you’d like to bring more focus to your subscription marketing, please get in touch and let’s explore what strategies will work best for your business.
Data Source: Whistl 2022