Retail Subscriptions Thrive During COVID-19

Retail Subscriptions Thrive During COVID-19

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 growth is reportedly on the rise across industries and verticals, too.

"At ReCharge, we've seen gross processing for subscription merchants up double digits during COVID-19,“ said Luke Retterath, VP of Marketing at subscription billing platform ReCharge Payments.

"While some verticals have certainly benefited more than others, we've seen positive performance across nearly all sectors. Additionally, we saw a large uptick in new subscription business created as businesses moved online at an accelerated pace in April and May.“

This was certainly true for CBD company Equilibria: Demand for their subscription-based offerings shot up 200% beginning in March. Grounds & Hounds Coffee Co., which offers coffee subscriptions, also saw an uptick during the pandemic: Their monthly subscribers