Subscription boxes full of curated, on-trend items—like Stitch Fix and FabFitFun—tend to get the press coverage. Meanwhile, subscription services that replenish consumer product basics (think Amazon Subscribe & Save) are quietly and methodically driving significant sales.
Currently, 15% of online Americans are signed up for at least 1 subscription. Subscribers are most likely to be urban women between 25 and 44 years old, with household incomes of $50,000-$100,000.
Consumer awareness, consideration, sign up and retention rates are higher for replenishment subscriptions than curated boxes. Shoppers usually sign up for a replenishment service based on a friend’s recommendation or a financial incentive.
45% of replenishment subscribers have had their subscription for over a year. They stay for the convenience, lower prices and personalization. The top reasons why consumers drop replenishment subscriptions are that they are unhappy with the product or the delivery rate does not match their needs.
Subscription sales have doubled each year since 2012, so this trend has become more important, even while you were reading.
Sources: Fast Company 2018, Forbes 2018, McKinsey 2018, Pitchbook 2019
So please…You’re creative. That’s why you considered the name “Brandology.” Use those creative juices to come up with another name that’s not already trademarked. Even though it will take some time, it will be fun, happy time — a stunning contrast to the time you’ll spend with Brandon if you try to use “Brandology.” Really. (It’s probably a little tacky to mention, but if you want our help naming your business, that’s something we do too.)