When it comes to growth, beauty subscriptions are delivering
They’ve got mail … and lots of it. According to a new study, the beauty and grooming subscription service category is expected to grow 10% in the next six months.
The study, conducted by research consultancy Magid, noted that 17% of consumers currently have a subscription in the beauty/grooming category, while 27% plan on joining one within the next six months.
The beauty category has seen a 51% overall increase in subscriptions over the last six months, far higher than the general population average of 25%. Over the last year, the beauty category has grown 58%, compared to 31% of the general population.
Other key findings:
- Women make up the majority of the market at 56% (men make up 44%)
- Millennials consist of 54% of the market, followed by Gen Xers (25%)
- 40% of these consumers will try many in the same category before committing to a service; they are more likely to respond to celebrity promotions, enjoy “the feeling of importance associated with being a subscription member” and to feel guilty about how many subscriptions they have
See the original article here.
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