Yoga isn’t exactly a new practice, but it is a growing one. In fact, as of 2016, roughly 1 in 10 Americans were yogis. From a business perspective, yoga is a niche filled with passionate followers dedicated not just to yoga itself, but to health, wellness, and mindfulness overall.
Here, we’ll run through 4 reasons why you should start a yoga-related subscription box!
1. A Growing Community
In the last four years, the number of people practicing yoga in America has increased nearly 80% from 20.4 million in 2012, to 36.7 million in 2016. That amounts to 15% growth among Americans that practice yoga regularly.
But if participation isn’t enough, yoga practitioners report spending over $16 billion on yoga clothing, equipment, classes, and accessories– a nearly 60% increase within the last 4 years.
2. Your Perfect Market
According to a research report by Mintel, approximately 42% of females aged 18-34 say they “currently have no commitment but would be interested in joining a yoga studio.” Additionally, 82% of this same group reports that they “would prefer to work out at home if they had the proper equipment.”
Coincidentally, nearly 82% of Cratejoy’s customers are female and, of those, more than 60% are between the ages of 18-34. In other words, the Cratejoy community is a great market for your yoga box.
But wait! There’s more.
Cratejoy does a lot of research on what our customers search for, and we’ve identified the areas in which we have the highest demand yet lack supply (i.e. subscribers are looking for yoga boxes, but we don’t have many sellers selling yoga boxes).
Yoga is at the top of the list, waiting to be capitalized on by a passionate yogi-entrepreneur. Think leggings, mats, videos, and a community begging for a monthly, curated yoga experience.
3. The Best of Both Worlds
Subscription boxes that provide an experience tend to have better customer retention than those that just provide a collection of goods.
A yoga box is on both sides of this line. You could include a video guiding your subscribers through a yoga routine, yoga-related apparel and products, or both! It’s all up to you. Hybridizing these two things will help you maximize the value you provide to your customers.
Yoga practitioners are also far more likely to engage in other physical activities. Already have a fitness-related box? Try starting a yoga box to add to your product offering!
4. More Than A Product, It’s A Lifestyle
When thinking about your customer in any context, understanding who they are is one of the most important things. To your advantage, yoga isn’t just an activity. According to Yogi Surprise founder Jameson Morris, for many, yoga is a fundamental part of their identity.
When starting a yoga box, you can launch your business confident that there will be a group of people that are passionate about your box. These are the people that will be willing not just to buy a product from you, but to build a relationship with you. This identity associated with yoga is what makes the yoga community perfect for your subscription box.
