Subscriptions for our lives (Streaming, dating apps, cloud storage, financial management) average $640 a year. This is 7% up from 2017. While there is a lot to be said for the cable service prices being to high, and the convenience with which we can order household items on Amazon, we are wondering how high this will go?
it seems that a likely next step is that retailers lock in customers with annual subscriptions. This could lead to discounts at the store, partnerships with local businesses, all with the intention of making money from customers who will inevitably shop elsewhere sometimes.
Something to think about though with the numbers of online shoppers still hovering around 12% (of all retail shopping, excluding groceries.) As these numbers climb, retailers will be thinking creatively, finding partnerships, trying to get customers to commit to them, beyond just loyalty cards. How often are those left in the bottom of a purse, or associated with a password we can’t remember and we just pay the extra $0.35 we would be saving out of convenience? These paid subscriptions will hold us accountable, and potentially drive more business (more consolidated shopping) to these places.
Keep an eye out for the creative way these retailers will lock you in as a shopper, and how they’ll capitalize on these rising subscription trends.
Comentários