Are you currently taking advantage of the growing popularity of subscription-based shopping services?
Subscription-based shopping services offer customers the ability to purchase goods or services on a regular basis, typically monthly or maybe even weekly. Common subscription-based services include areas and industries like meal-prepping, beauty and skin care, books, magazines, newspapers, clothing, movie and tv streaming, and personal wellness.
According to Insider Intelligence, they estimate E-commerce subscription sales rose 41% in light of the global pandemic. SOURCE
Why this shift? Global shutdowns made shopping centers and in-person activities inaccessible or impossible in some situations. Subscription-based services allow one the convenience of ordering their packaged or other goods online from the safety of home. They are then delivered to their door.
In addition to offering safety and convenience to those shopping from home, subscription-based services can also have benefits for merchants and business owners.
One benefit is a steady stream of sales billed each month or on another regular basis, as opposed to one-time purchases only.
If your current facility is set up to fulfill orders on an individual basis, you may want to tackle this and plan and implement any necessary changes to your fulfillment and inventory processing strategy.
In addition to this benefit, those who previously may not have purchased your products but are specifically interested in the subscription-based model can create a totally new customer base and source of revenue for a business.
Merchants can benefit from regular turnover of products, regular billing increments for customers, and an appealing new avenue for new or returning customers with subscription-based services.
Consumer can also enjoy the convenience their favorite products and packaged goods from the convenience and safety of their own homes while putting purchasing on autopilot.
Think subscription-based services might be the right option for your business? Discuss it with a marketing professional from the team here at Fluid IQ Digital. Contact us today to request a 30-minute cost-free audit of your website.
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