Market presents significant growth opportunities over the next six months after strong start to 2018
The beauty and grooming subscription box market will grow by 10% in the next six months, according to new research by Magid. The research company has found that 17% of consumers currently have a subscription for the beauty and grooming, with a further 27% intending to enrol in a new programme within the next six months.
TThere has been strong growth for subscription-based concepts within the beauty industry - Magid has seen a 51% subscriptions uplift over the past six months, compared to a general population average of 25%. The market is split fairly evenly, with 56% of women and 44% of men taking out a beauty or grooming subscription. Unsurprisingly, Millennials make up the largest consumer group (54%), while Gen Xers contribute to 25% of sales.
TOf the consumers polled, 40% said they will try several different boxes within a category before fully committing to a particular service with celebrity endorsement seen and being part of a community seen as reasons to join up.