Stay ahead of the curve and future-proof your business with Mintel’s US Subscription Services Market Report 2023. Our full report is packed with consumer-led market intelligence, the latest subscription services market research, trends and consumer behaviors affecting your business. Get a 360° view of the market, including a five year forecast to help you align your business strategy with the needs of your audience.
Below, we’ve handpicked the key insights analyzed in the full report and summarized the core topics.
Topics Analyzed in this Report
- Consumer participation in the subscription services market.
- The impact of inflation on consumer behavior and demand for subscription services.
- Motivations and barriers to subscription service participation.
- Behaviors and attitudes toward subscription services.
- Provides analysis of subscription services across numerous categories: food, beauty, personal care, drink, pet, household, health and wellness, toys, children and baby apparel.
Subscription Services Market Overview
The adoption of subscription services has grown significantly in recent years, with over half of US adults subscribing to at least one service.
In the near term, inflation and high interest rates will continue to impact consumer spending. Subscriptions that feel like an indulgence or unnecessary will continue to be part of the chopping block, whereas those that prove their value will be the most prepared to survive the current economic climate.
- Subscription services consumer behavior: 65% of US consumers are subscribed to at least one service and 21% have never been subscribed.
Subscription Services Analysis, Trends and Opportunity Â
Don’t just target younger consumers
Younger consumers, such as Gen Z, are a prime target audience for subscription services but there is significant potential in the market among older consumers as well, particularly for auto-replenishments. Guiding how to use the service can help to increase knowledge and comfort among older consumers.
- Subscription services market statistics: 52% of adults aged 55+ currently use or auto-replenishment form of subscriptions.
Focus on value
Price point may serve to attract consumers but not to retain them. Companies will need to go beyond this selling point to minimize churn rate and achieve profitability such as offering easy cancellations, which are paramount for older consumers, while delivery and returns are the most important to adults aged 25-44.
- Subscription services analysis: 62% of consumers feel motivated by affordable prices to sign up to a subscription service.
Purchase our US Subscription Services Market Report to receive a five-year forecast, consumer behavior analysis, and recommendations for market opportunities. Readers of this report may also be interested in our US The Amazon Effect Market Report 2023, or our range of Retail Market Research.
Brands Featured in the Full Report
HelloFresh, Amazon, Walmart, Public Goods, Dollar Shave Club, Birchbox, Kencko, FabFitFun,
Additional Features Included with Your Purchase
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Expert Insights from a Retail Analyst
This report, written by Marisa Ortega, a leading research analyst, delivers in-depth commentary and analysis to highlight the subscription services market trends and add expert context to the numbers..
Subscriptions services have online shoppers engaged. However, misperceptions exist and will continue to present areas of opportunity for these shopping models.
Marisa Ortega
Retail & eCommerce Analyst
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Executive Summary
- What you Need to Know
- Consumer Trends: Key Takeaways
- Market Predictions
- Opportunities
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CONSUMER INSIGHTS
- User Snapshot
- – Graph 1: subscription services participation, by key demographics, 2023
- – Graph 2: subscription services participation, by gender, 2023
- – Graph 3: subscription services participation, by age, 2023
- – Graph 4: subscription services participation, by race and Hispanic origin, 2023
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Types of subscription services
- – Graph 5: types of subscription services currently used or used in the past, by age, 2023
- – Graph 6: types of subscription services currently used or used in the past, by race and Hispanic origin, 2023
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Subscription service drivers
- Appeal to consumers through affordability and providing control over their purchases
- – Graph 7: motivations to sign up for a subscription service, 2023
- – Graph 8: motivations to sign up for a subscription service, by age, 2023
- In their own words consumers describe the perks and features that would make subscriptions more attractive
- – Graph 9: motivations to sign up for a subscription service, by gender, 2023
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Barriers to using subscription services
- Changing routines and preferences impact subscription services
- – Graph 10: subscription services barriers, 2023
- Inconsistent usage and negative perceptions about price are some reasons that keep consumers away from subscriptions
- – Graph 11: subscription services barriers, by age, 2023
- – Graph 12: subscription services barriers, by race and Hispanic origin, 2023
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Participation and interest in subscription services by category
- – Graph 13: participation and interest in subscription services by product category, 2023
- Younger consumers are the most open to subscribing to services across categories
- – Graph 14: participation and interest in subscription services by product category, by age, 2023 – NET – any would consider
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Attitudes toward subscription services
- – Graph 15: attitudes toward subscription services -select responses, 2023 – NET – Agree
- – Graph 16: attitudes toward subscription services – select responses, by age, 2023 – NET – Any Agree
- Quality fresh food is a cornerstone for differentiation
- – Graph 17: attitudes toward subscription services -select responses, by age, 2023 – NET – Agree
- – Graph 18: attitudes toward subscription services -unique offerings-, by race and Hispanic origin, 2023 – NET – Agree
- Subscription offerings can drive interest through physical shopping options
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Areas of interest
- – Graph 19: areas of interest, 2023
- – Graph 20: areas of interest, by age, 2023
- – Graph 21: areas of interest, by race and Hispanic origin, 2023
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COMPETITIVE STRATEGIES AND OPPORTUNITIES
- HelloFresh debuts The Pets Table
- Walmart launches a subscription service
- Amazon launched a subscription service for generic medications
- Public Goods launches a mobile app
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Opportunities
- Key takeaways.
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THE MARKET
- Market context
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Market Drivers
- Subscriptions are enabled by technology adoption
- Corporate social responsibility initiatives influence purchase decisions
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Market Landscape
- – Graph 22: subscription services participation, 2023
- Replenishment services win with consumers
- – Graph 23: types of subscription services currently used, or used in the past, 2023
- In their own words: one consumer’s perspective on subscription services highlights opportunities and challenges for the
industry.
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Appendix
- Consumer Research Methodology
- Consumer qualitative research
- Generations
- Abbreviations and Terms
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