What is the Subscription Economy?
Subscription-based consumption is gaining ground and is becoming an essential lever for retailers.
What is the subscription economy?
The subscription economy is an economic model based on consumption by subscription, and no longer on single purchases.
The growth of the subscription market
From delivery services to streaming, products, software and even leisure and transport, subscription-based offers have multiplied. As a result, 72% of French consumers have at least one subscription. This success is largely due to the variety of offers available. The subscription economy concerns all countries where consumption is healthy.
Which retail sectors offer subscription models?
The subscription economy is present in various retail sectors. Several models stand out.
Subscription products and services
Beauty boxes are the most popular among consumers. Several beauty subscription boxes dominate the subscription market. Here are some examples.
1 - My Little Box
This French brand is a great reference in the field of subscription beauty boxes. Each month, the subscriber receives a box containing products such as beauty care, accessories and even fashion items. My Little Box is particularly attractive because of the surprises regularly included in the monthly box, which contains a minimum of 5 products.
2 - Netflix
The subscription streaming giant Netflix offers films and videos on demand via its online platform. Each month, the subscriber has access to an unlimited catalogue of content such as series and films. Thanks to an algorithm, Netflix can suggest programmes that may be of interest to the subscriber according to their preferences.
In addition to and in parallel with the new remote consumption mode, subscription delivery services are also developing. By subscribing, consumers can benefit from unlimited deliveries by paying a fixed monthly fee, regardless of the quantity and number of products they purchase.
Amazon Prime is the leading subscription delivery service. With Amazon Prime, subscribers receive fast delivery within 1 business day, regardless of the amount of their purchases. Subscribers also benefit from a few days of exceptional discounts per year through Prime Days.
Private club subscriptions
By subscribing to a VIP card as part of a Private Club offer, the consumer benefits from a varied choice of products and services at more attractive prices, both online and in the brand's physical shops.
Rental type subscription
More and more consumers are choosing to use a product rather than buy it. Rental subscriptions cover a range of sectors, from fashion to cars. This model supports the growth of the use-based economy.
Thus, OnlyDrive offers car subscription formulas that allow you to rent a new or second-hand car for a minimum period of one year.