The eCommerce subscriptions model has completely changed the way people shop. This revolutionizing strategy led by numerous start-ups such as Blue Apron meal kits, and Stitch Fix personal styling, Netflix, Spotify, and others is a fast-growing way of buying online.

“Based on Mckinsey 15% of online shoppers have signed up for one or more subscriptions to receive products on a recurring basis, frequently through monthly boxes”.

In the eCommerce industry, subscription model services offer consumers (especially those who embrace all the trappings of the modern world) convenience, personalization, and easy and lower-cost ways to buy what they want and require. 

In simple words, in the subscription business model, companies charge customers a recurring fee—usually monthly or yearly—for access to their product or service. If a business strategically works on a subscription model, it can be a robust driver of growth for your business.

The eCommerce subscriptions model holds immense benefits for businesses, it not only helps in building strong customer relationships but also helps you convert your valuable subscribers into loyal followers who become reliable sources of recurring revenue. In fact, these are customers that help your business grow by using your product or service for a longer time. Also, higher customer retention rates imply lower acquisition costs in the long term. 

In this article, we will discuss everything about the eCommerce subscriptions model including how you can turn any product or service into a subscription.

According to Statista, 71% of respondents stated that they are currently paying subscribers of video subscription services. Additionally, 29% of respondents stated similarly for the category of music subscription services.

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