There’s no doubt that the subscription business model is here to stay. Nowadays, it’s hard to find a brand not partaking in this form of customer loyalty that promises recurring revenue for the business and a regular service or product at the doorstep of the consumer. While subscription services have become even more popular and abundant in the 21st century, they’re not a novel concept, dating back to the early 17th century. Some of the oldest subscription services have included newspaper and doorstep milk delivery in the late 1700s. Today, subscriptions range from digital streaming services to meal kits and curated clothing boxes. There is a subscription service tailored for every age, lifestyle, interest and budget.
With brands looking for regular revenue streams and consumers looking for convenience and the ability to try new products, there’s no wonder why this business model has been used for centuries. The global subscription box industry alone was estimated to be around $22.7 billion in 2021 and is expected to grow to $65 billion by 2027. So how can we better understand the individuals that buy into these subscriptions and fuel its market growth? It comes in the form of social audience insights.
Social audience insights uncover subscription affinities
Social audience insights, unlike social listening or monitoring, look at the individuals behind the conversations and engagements across major social channels to discover an individual’s self-declared interests, passions, brand affinities, preferred media channels, trusted influencers and more. Marketers can leverage social audience data to identify specific audiences and then analyze their key interests and motivations. Using our Silhouette™ platform, we looked to discover which subscription services U.S. millenial women had the strongest affinities for. Here’s what we found out:
The Top 10 Subscription Services Among Millennial Women
When looking at the social audiences across popular social channels including Instagram, Twitter, YouTube, and LinkedIn, we narrowed our audience to US-based women between the ages of 25 and 40. Not too surprisingly, nearly 10% of women with high affinities toward subscription services reside in New York City, Chicago and Los Angeles. They also were more likely to hold careers in management, marketing and real estate. So which subscription services rated highest among this group? Here are the top 10 brands that made the list.
Ipsy, a monthly and quarterly beauty subscription service, sends subscribers personalized boxes of either sample or full-sized products depending on the subscription of choice.
Birchbox is a monthly beauty subscription service that also sends their subscribers sample-sized products based on their beauty profile. Subscribers can select the cadence in which their box is sent, with price discounts available for those who select a higher frequency plan.
I think we can all agree that Neftlix needs no introduction, but to those less familiar, Netflix offers thousands of movies, shows and comedy specials with subscription packages tailored to viewing and household sharing needs.
Hulu, owned by parent company Disney, is a TV-centric streaming service (also offering select movies). Similar to Netflix, they offer different packages, most notably a standard or commercial free option.
Hellofresh offers approachable meal kits that can be personalized by serving size, number of meals and meal categories ranging between family-friendly to pescatarian.
6. Blue Apron
Blue Apron, the OG meal kit delivery service, offers a more refined meal kit experience with more trendy and premium ingredients like Duck with Blueberry Thyme Pan Sauce. Similar to Hellofresh, subscribers can select between the number of meals, servings and meal categories.
7. Amazon Prime
Like Netflix, Amazon Prime needs no introduction. With a slew of benefits, it’s no wonder this one made the list. Prime subscribers enjoy Prime Video, offering a similar experience to Netflix, a range of quick delivery options, Subscribe & Save, and the list goes on.
If you’re an avid wine connoisseur, you’ve probably heard of Winc. Winc is a home delivery wine club that sends its members 4 bottles each month based on their drinking preferences.
Whether you’re a kid at heart or have kids you need to entertain, Disney+ provides its members access to their full library of Disney movies and more, including National Geographics.
10. Rent the Runway
Rent the Runway pioneered the ability to rent high-end clothing for special occasions at a fraction of the price. Subscribers can select between 4 to 16 items each month so they never have to be caught wearing the same thing twice.
Notable subscription services that didn’t make the top 10 but rated highly among millennial women included Stitch Fix, Glossy Box and Graze. What we found among this generation of women is that beauty, entertainment and meal kits rated higher compared to fashion subscriptions. But one thing in common with all these subscription services is they tend to offer more than one option at different price points, delivery frequencies and in some cases like beauty and fashion, give the option to purchase the full-size product or rental.
There’s no doubt that subscription services are here to stay, so long as the consumers’ need for convenience and desire to try new things continue
While we focused our attention on subscription services, there is so much more to glean about this audience. If you’re looking to learn more about how social audience insights works and how we discovered the insights highlighted above, let’s chat!