PROS is E-commerce Development Company in San Diego, USA
Did you know the subscription e-commerce market would reach $473 billion by 2025? From grocery deliveries to streaming services, subscription-based business models are everywhere. There has been a drastic shift in the business model, where customers buy “as-needed,” to one where they sign up to receive the product or service on a regular basis. These days, customers try to save time by eliminating items from their to-do lists with easy auto-renewals.
As long as the businesses continue to deliver value through their subscriptions, businesses can expect stable revenue and increased levels of client engagement.
Today, more than 50% of internet shoppers use a subscription service for e-commerce. There has never been a better time to launch a subscription model for your business.
Key Statistics:
- The subscription E-commerce industry grew by 100% in the past five years.
- 15% of online shoppers have at least one subscription.
- Over 50% of e-commerce service subscribers have more than one active subscription
- 69% of US households now subscribe to one or more video streaming subscription services
What is Subscription E-commerce?
E-commerce subscription is a business model that allow customers to continuously receive a product or service for a fixed period of time for a certain amount. With subscription services, you and your customer have an ongoing contract in which they agree to pay for access to your goods or services on a regular basis, such as once a month or once a year.
Examples of subscription-based businesses are Netflix, Amazon Prime, Disney Plus, Shopify, NetSuite, Azure, AWS, Mailchimp, etc.
Types of Subscription E-commerce
There are 2 types of subscription e-commerce models; B2B e-commerce subscription and B2C e-commerce subscription.
- B2B subscription models allow companies to sell to other businesses on a recurring, automated basis — and popularity is on the rise.
- B2C subscription models enable the end consumers and customers to avail themselves of the subscription and take full advantage of the goods and services that the company has to offer.
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