In the US, more and more online store buyers are switching to the subscription model: last year alone, their number grew by 15%. Russian e-commerce is just getting started, but no one doubts that the trend, as always, will come to us a little later. So let’s get ready – get acquainted with subscriptions.
The growing popularity
of subscriptions is a natural process, and it is easy to explain. First of all, updated 2024 mobile phone number data it is convenient for customers: instead of buying the same thing once a month, they simply pay money and receive the product di heir home. Those who have already
appreciated the benefits of subscriptions do not limit themselves to one: more than half of online store buyers have at least two.
Savings on attracting new customers. The standard model, which is based on conversion, means that you have to spend a lot of effort and money on attracting customers. First, you turn a visitor into a buyer, and then work hard again so that he becomes a regular. The subscription model means that your customer immediately becomes a regular customer, and provides a stable income.
More accurate forecasts. To forecast income, traditional businesses have to rely on a number of assumptions and use a lot of analytics. The subscription model allows you to estimate income much more easily: you take the total number of subscribers, subtract the cancellations, and multiply by the subscription cost.
Optimized inventory management
Imagine: you bought a product in advance, but it does not sell as well as expected. Or, on the contr ary, a product suddenly goes viral, and its stock is running out, and you still have a thousan omers who want to order it. With a subscription, these problems disappear: you know exactly how many subscribers you have and how much product you need – you can plan your purchases more google core update november 2024: what you need to know – conversion accurately and virtually eliminate leftovers.
And the best thing is that today, retailers have everything they need to implement a s consumer data ubscription model. They have many successful examples of companies and opportunities to use their experience in their niche.