28/04/2021

BIRD'S EYE VIEW

Launching a subscription product? Here’s our formula for success

The subscription economy continues to go from strength to strength. Our recent consumer report about the Lockdown Subscriber completed in October 2020 found that 2-in-5 UK adults had signed up to a new subscription service since lockdown and 72% said it was likely they would remain subscribed into the new year. These claims have been confirmed by behaviours and according to Barclay Card spend data, UK households are now signed up to an average of seven subscription services and we increased spending on subscriptions by 39% last summer.  

With subscription boxes alone set to reach a market value of £1bn by 2022, 1 in 5 UK retailers launched a subscription product over the lockdown period last year, half of which were doing it for the very first time. The Kite Factory has helped many brands successfully launch subscription products across a multitude of sectors. So, we’ve put together a short guide for anyone considering launching their first subscription product and our formula for making it a success.

Check out the guide here.