Millennials ditching High Street for online subscriptions
Written by Peter Walker
A nationwide survey has revealed that the Millennial generation want to turn away from High Street shopping in favour of online subscription services.
James and James Fulfilment commissioned Pollfish to survey 400 UK adults, finding that more than 79 per cent of respondents aged 25 to 34 said that “subscription box” services can offer greater choice and personalisation than shopping in-store.
Millennials are buying everything from meal kits, dog food and contact lenses, to makeup and fresh vegetables via online subscription services, signing up to receive products through the mail, typically weekly or monthly.
This is fuelling growth in the subscription box industry, with Royal Mail forecasting the sector to be worth £1 billion by 2022.
Nearly nine out of 10 Millennials believe online subscription services can be more personalised than shopping on their local High Street, while 79 per cent are of the opinion that there’s more choice available, and 55 per cent think the services can offer better value than physical shopping.
They are also willing to spend on average £65 a month on the services – more than their older, more frugal counterparts.
The research showed that 78 per cent of Millennial respondents highlighted saving time as the most attractive benefit of online subscription services, while 68 per cent believe online subscription services could make their lives easier in the next two years.
Aside from that demographic, half of all respondents to the survey said they believe that online subscription services can make their lives easier within the next two years too. One respondent commented “I'm disabled and am finding it harder to leave the house” as a reason to try more subscription services in the future.
James Hyde, chief exective of James and James Fulfilment, said that this another sign that High Street retailers need to adapt quickly, to remain competitive.
“This means catering for both a tech-savvy generation who enjoy ‘the fact I don’t need to leave the house to shop’ and older consumers who are tempted to try more subscription services so other people can do the carrying.’”