Consumers across the UK are predicted to purchase close to 12 million subscriptions this Christmas in a £680mn boost to retailers, according to new research conducted by Opinium for Acquired.com.
The average expected spend on each subscription gift this Christmas is £58 – with men typically spending more than female gift-givers, splashing out £60.20 on average compared to £54.80 for women.
More generally, one in three shoppers (37%) expect to spend £50 or under per subscription gift, with over half (55%) planning to pay more than £50 across the course of the subscription.
Subscriptions relating to hobbies e.g. gaming, DIY, craft kits are expected to be the most popular, accounting for 26%. Beauty subscription remain popular (22%), as do food or drink services such as meal kits and wine clubs (20%).
Greg Cox, CEO and founder of Acquired.com, commented: “Gift-giving is a very personal experience. While some may prefer to give physical presents, it can be challenging to find that special something, and subscription gifts are a great alternative.
“As a shopper, you can easily find a gift with a personal connection to the recipient, whilst also avoiding the crowds and the stress of shopping in person. For those who are experience-seeking or sustainability-minded, subscriptions often feel both more intentional and less wasteful. Win-win.
“But what excites me most, is the significant new opportunity subscriptions present to businesses. As we all adapt to this fast-growing market segment, festive or limited-edition subscriptions can be a great way to test the market, strengthen customer loyalty, and scale recurring revenues”.
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