Subscription services are all the rage. Here's some interesting stats on the subscription economy:
- Women are more likely than men to have 3+ physical subscriptions at a time (58% of people with 3+ subs are women).
- 90% of Gen Z shoppers have a physical subscription.
- 70% of Millennials have a physical subscription.
- Since only 1 in 6 shoppers have a subscription, you can see where this trend is headed.
- There are 18.5 million people in the US who have a physical subscription. Of those people, 35% have 3+ subscriptions. The average is 2 subscriptions. Not that many!
- The median churn rate for subscription boxes is 10.54%!
- Food, pets, and coffee subscriptions have churn rates lower than 10%.