A new report by Access PaySuite has revealed the fastest growing subscription services – with makeup and cinema subscriptions topping the list.
Payments technology specialist, Access PaySuite, part of The Access Group, analysed Google search data to reveal which subscriptions categories have seen the biggest increase in searches over the course of 2021.
Makeup subscriptions saw the biggest rise with an increase of 188%, followed by cinema subscriptions and cinema memberships, which saw rises of 157% and 149% respectively.
Research by Royal Mail showed that nearly 30% of British consumers are signed up to at least one subscription service, with 88 million deliveries of subscription boxes across the country in 2020.
Top 10 biggest increases in subscriptions searches – Jan – Dec 2021
1. Makeup subscriptions – 187.7%
2. Cinema subscription – 157.1%
3. Cinema membership – 149.0%
4. Dog treat subscription box – 116.8%
5. Movie subscription service – 81.7%
6. Accounting software subscription – 75.0%
7. Wine subscription box – 59.7%
8. Meal kit subscription – 51.9%
9. Dog food subscription – 48.5%
10. Snack subscription box – 43.8%
Source – The Access Group – The rise of the subscription payments model
Explaining the data, Mike Chambers, Northey Point Limited and Chairman of Answer Pay, formerly CEO of Bacs and a consultant at Access PaySuite, said:
While recipe boxes and food and drink have the biggest value in the subscriptions, these brands have established strong reputations, meaning that the likes of Gousto and Hello Fresh are almost synonymous with recipe box subscriptions in general. Our data shows that these meal kit subscriptions continue to grow, with a rise in searches of more than 50%.
Our data paints a picture of how consumers in the UK have spent their money over 2021. Makeup subscriptions top the list, which is perhaps unsurprising as workers returned to offices and the hospitality and leisure sectors re-opened after lockdowns, with people understandably keen to socialise with family and friends again.
We have also seen a huge increase in pet ownership during the pandemic, with millions of households adding a pet to their family and people are undoubtedly keen to take advantage of the convenience of subscriptions by having pet food delivered to their door.
Subscriptions offer huge benefits for businesses, as well as consumers, who can benefit from more reliable cashflow forecasting, huge opportunities to upsell, as well as the chance to develop long-term relationships with customers. Consumers are now accustomed to frequent recurring payments, whether they are for luxuries or treats, or less exciting household items, so I see this trend continuing for years to come.
Mike Chambers, Northey Point Limited and Chairman of Answer Pay, formerly CEO of Bacs and a consultant at Access PaySuite
