We’ve put together a list of 6 subscription product ideas to launch your business into the ever-growing subscription products and services market.
Subscription-based models are becoming increasingly popular among consumers and ecommerce merchants alike.
So popular, in fact, that the growth rate for subscription ecommerce has reached 68% and the industry is expected to reach £388.2 billion (US$ 478.2 bn) by 2026.
The first thing you may think of when it comes to subscriptions is probably digital services like Netflix, but there are countless other industries that have exploded onto the scene. We’ve created the list below to give you an idea of the 6 most successful ecommerce subscription product ideas.
Grooming and Beauty Products:
Consumers love the convenience of having grooming and beauty items delivered to their doorstep on a regular basis. A basic way to incorporate a subscription model into your grooming or beauty business is to offer repeat orders of frequently used products so that they arrive at your customer’s door before they run out of the previous purchase. Razor blades, hair care, skincare, and makeup are just a few examples of grooming and beauty products that sell well as a subscription.
This category also lends itself to subscription boxes, which send consumers a monthly (or quarterly) box full of goodies from an online brand they love. Scentish sells a monthly subscription box which offers 6 assorted bath and body products each month, with limited edition bath bombs and other items made available only through their subscription. Another option would be to offer a subscription that delivers a new type of product or a new seasonal scent each month. Here’s another of our blogs that discusses 5 examples of subscription based businesses if you need some more information.
Food and Beverage
With the rising popularity of meal kit delivery services like HelloFresh and Gousto, food and beverage subscription boxes are really having their moment. Meal kit subscription services are expected to grow by 11.26%, reaching a market volume of $2.75bn by 2027.
With such rapid growth comes an opportunity for small businesses to make a big impact. Coffee subscriptions and snack boxes are popular food and beverage items that sell well as a subscription. A coffee delivery subscription could be something practical, like subscribing to receive your daily coffee (or tea!) of choice by post on a regular basis, or something more exciting like a “coffee of the month” subscription. Snack and sweet shops can also easily enter this market by offering regular delivery of a themed box of treats.
Any pet owner will know the terrible feeling of going to feed Fido and realising there’s no food left. Subscription pet products are the answer to this problem, making it an absolute no-brainer for your customers to jump at the chance to order their pet food on a recurring subscription. Beyond the simple convenience of ensuring you never run out of food, pet owners also love subscription boxes of treats and toys for their furry or feathered friends.
Fitness and Health
Vitamins and supplements are daily use products, meaning they are well-suited to the idea of a subscription delivery service. Protein powder subscriptions are really popular in the fitness industry, with some companies now offering a surprise flavour each month to keep consumers interested and on their toes.
Home and Office Supplies
Office and school supplies, cleaning products, and other home essentials can be offered as a subscription. This saves consumers time and effort in making these purchases in-store and ensures they always have the supplies they need on hand.
Streaming services are likely to be the first thing that comes to mind when you think about an entertainment subscription, but there are so many more options available. Puzzle, toy, and book-of-the-month subscriptions are just a few examples of entertainment items that sell well as a repeat delivery service.
The key to a successful subscription model is either offering items that consumers need or use regularly or exciting your customers with a new surprise each month. Regardless of which type of subscription service you choose to offer, providing a convenient and hassle-free experience is key.
As an ecommerce merchant, it’s important to evaluate the products in your inventory and determine if a subscription model could be a profitable addition to your business. If you’re ready to set up an online business offering subscription products, EKM is here to help.
EKM’s Subscriptions feature is designed to help ecommerce merchants tap into recurring payments to increase their revenue and customer loyalty.
Our own-branded payment gateway EKMPay, powered by ClearAccept, offers EKM merchants the ability to accept subscription payments, offer discounts for repeat purchases, and easily manage and send repeating orders out with our Subscriptions feature.
Get started today with EKM and EKMPay.