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Retail Subscriptions Thrive During COVID-19

Forbes | July 15, 2020

A new study from CouponFollow shows that during the COVID-19 crisis, many US consumers have leaned into subscription-based product—some for the first time. 

Of over 1,000 shoppers surveyed, one in five had purchased a subscription box to have products on-hand during the pandemic. The survey also showed the most popular subscriptions were HelloFresh (21%), BarkBox (20%), Blue Apron (19%), and Dollar Shave Club (18%).

Retailers are taking note of this shifting behavior, and data projects that by 2023, as many as 75% of direct-to-consumer brands will have a subscription-based offering.

Subscription offerings are new, first-time offerings for brands who are leveraging subscription boxes as workarounds to business models that are no longer viable—like in-person marketplaces.

So will this growth trend continue within the world of subscriptions in the coming months? Tien Tzuo, cofounder and CEO at Zuora, believes it will.

Read the full article here

#retail #covid19 #subscriptions #shopping

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