According to the latest IMARC Group report on Cannabis Subscription Box Market: Global Industry Trends, Share, Size, Growth and Opportunity Forecast 2021-2026, the global Subscription Box Market has shown robust growth from 2015 to 2020. Looking ahead, IMARC expects the subscription box industry to continue its robust growth between 2021 and 2026.
Subscription boxes are automatic delivery services for niche-oriented items on a weekly, monthly, or annual basis. Based on various products, subscription boxes have products including food and drinks, health and fitness, personal care and hygiene, childcare, clothing, books, and pet care. Unique features of subscription boxes are curating products for the consumer, surprise items in the box, aesthetics, packaging, and content.
We have followed the direct impact of COVID-19 on the Cannabis subscription boxes market and the indirect impacts related to the industry.
The expanding e-commerce sector and the increasing spread of social media trends are driving the market for subscription boxes. The growing influence of several social media bloggers, vloggers, influencers, and numerous celebrities has increased the product demand of the urbanized millennial population. In this sense, various social media-based startups use subscription boxes as a medium to create brand awareness, promote and build marketing. Several retailers in various industries such as cosmetics, personal care, fashion, and food and beverages are introducing free product testing and offering significant discounts, and the introduction of subscription boxes is expanding in these sectors. The consumer base is also on the rise.
The global market for subscription boxes reached a value of 18.8 billion US dollars in 2020. The growing consumer preference for personalized items and curated products will continue to drive the market over the forecast period. Looking ahead, the IMARC Group expects the subscription box market to grow by 20.1% between 2021 and 2026.
Considering the uncertainty of COVID-19, at least boxes constantly provide and take the guesswork out of getting what people want.
Reports estimate that half of 25 to 35-year-olds will subscribe to a box this year, and that number will continue 43% of people aged 32 to 47 subscribe to at least one box service.
Cannabis Subscription boxes are the perfect way to keep the seasons going; send yourself or a friend a surprise email when they know a box is coming and the content changes every month. Most boxes have items that can be valued much higher than their subscription price.
What Is a Subscription Box?
A cannabis subscription box is a product package where multiple products are shipped or delivered to customers regularly. There’s a bit of variety allowed for different industries, but they mainly work in similar ways.
Here are the commonalities:
- Recurring Cannabis deliveries. These boxes are usually shipped every month. They’re a great way to market off products that otherwise could become dead stock. The main selling point of this model is cost savings. If the products in a box cost $100 MSRP, the subscription cost must be lower. This incentivizes customers to subscribe to the service.
- Recurring payments for boxes. Recurring deliveries are paired with recurring payments from the customers. This is the biggest reason companies expand into the subscription box market, as they can secure additional income each month, and the value of each customer compounds over a period of time.
- Themed style boxes. These types of boxes are often built around an underlying theme that connects the products. This is an excellent way for businesses to help each other grow since more minor well-known companies can get their products exposed to a much larger audience with a multi-brand subscription box. It’s also an excellent way for a B2B business to expand into the direct-to-consumer market. For instance, a wholesale coffee bean roaster can sell wholesale to coffee shops and small batches to consumers.
Are Cannabis Subscription Boxes Still Popular?
Yes, subscription boxes are in higher demand than ever. The subscription box market reached new heights in the past few years, with 2021 projecting more than $15 billion in sales.
Another sign that this trend is not slowing down is that brands are expanding their subscription box services internationally.
These are dark times for all of us. We look forward to weed and weed clubs. But we no longer smell of weeds or weed killers.
Mary Daze Cannabis Subscription Boxes:
Mary Daze is women-owned and operated, tied to a multi-licensed LLC. They saw the demand for delivery during the height of Covid-19 and took it to the licensed community. Now they are serving over five counties and continue to frow. They offer same-day, next-day, and very convenient scheduled delivery. They will be releasing their line of house brands to increase margins and bring light to their incredible menu! As they continue to grow, Mary Daze CEO Mckenzie Santa Maria tells us, ” The time of convenience, safety and reliability is here. Which is why my team and I are excited to annouce our subscription based delivery line. This will allow our consumers to save money, be less stressed when it comes to their medicine and have more access to the brands they want.”
Skip the tense pharmacy queue. Order from a curated collection like Mary Daze Huntington Beach and leave the work to them. They buy quality and provide quality.
California recorded $20.3 billion worth of taxable adult cannabis sales in 2019, and pandemic fears and home-stay orders have driven up the subscription trend. Weed lovers looking for deals and discoveries will be snapping up new monthly subscription boxes of marijuana this summer.
Prior to legalization, the best monthly boxes were headaches with THC. Today they have evolved into complete, carefully designed designer collections with carefully selected designs, online ordering, and contactless delivery. Stay tuned for Mary Daze Subscription Box release!