{"id":31718,"date":"2023-01-12T14:53:37","date_gmt":"2023-01-12T11:53:37","guid":{"rendered":"https:\/\/www.x-cart.com\/?p=31718"},"modified":"2023-09-12T09:22:44","modified_gmt":"2023-09-12T06:22:44","slug":"sell-subscriptions-grow-revenue","status":"publish","type":"post","link":"https:\/\/www.x-cart.com\/blog\/selling-subscriptions.html","title":{"rendered":"Selling Subscriptions: Your Sure Way to Grow Recurring Revenue"},"content":{"rendered":"\n

The global subscription eCommerce market has been growing rapidly throughout the past few years and is thriving more than ever now, with the COVID-19 impact on the world of online trade. In 2021 and 2022 its size registered at $72.92 billion and $120.04 billion respectively. Furthermore, recent research studies show its size is expected to reach a whopping $904.2 billion by 2026<\/a>.\u00a0<\/p>\n\n\n\n

Well, isn’t this sort of exponential growth an excellent reason to start selling subscription services online and have a fair share of this blossoming market? <\/p>\n\n\n

\n

\n Want to Start a Subscription Business Now?  <\/h3>\n\n\n\n

If you don’t feel like investigating options yourself, talk to one of our Solution Advisors and discuss ways X-Cart can help you launch quickly. <\/p>\n\n\n

\n Book a Meeting<\/a> <\/div>\n\n<\/div>\n\n\n

If you are reading this blog post, you are either starting an online subscription business from scratch or considering transforming your business to sell subscriptions online and bring recurring revenue into your eCommerce store. In both cases, you are in the right place. <\/p>\n\n\n\n

In this article, I am going to introduce you to the fascinating world of subscription eCommerce, uncover reasons to enter it, touch upon some relevant statistics and types of subscriptions, and outline ways to start selling subscriptions. <\/p>\n\n\n\n

Let me fill you in one step at a time.\u00a0<\/p>\n\n\n

\n What Is a Subscription?  <\/h2>\n\n\n\n

A subscription business model implies offering products and services on a regular basis in return for recurring payments. <\/p>\n\n\n\n

How many subscriptions do I have? As a consumer, you might have asked yourself the question multiple times, and just like 61M+ other US consumers<\/a>, you are likely to have at least one active subscription. Which subscriptions are worth it? Well, that depends on who you ask. You might have signed up for Amazon Prime or Netflix or your favorite online journal or \u2013 like me \u2013 for a supply of dog food delivered to your doorsteps on a regular basis, and all of these present a personal value to you. <\/p>\n\n\n\n

All of the aforementioned subscription services share one important similarity: recurring payments. <\/p>\n\n\n

\n Types of Subscriptions  <\/h2>\n\n\n\n

Since we’ve landed on types of subscriptions, it’s only logical to proceed and look into each one. Let’s start with the most rapidly growing one. <\/p>\n\n\n

\n Subscription Box  <\/h3>\n\n\n\n

Subscription boxes are normally physical goods delivered to the consumer regularly. Even though the boxed products may be of practical value, subscription boxes are designed first and foremost to be an experience, giving consumers a reason to be looking forward to their next delivery. <\/p>\n\n\n\n

Common subscription box examples are healthy meal kits, teas and snacks, unique pop culture items, makeup and beauty products. The list goes on with products in various business niches: apparel, food and drinks, jewelry, toys and merchandise, fitness equipment, treats for your pets, baby supplies, domestic products, you name it!. <\/p>\n\n\n\n

Virtually any kind of goods that can be bundled, wrapped up, and delivered on a regular basis is a potential for starting to sell subscription boxes<\/a>. <\/p>\n\n\n

\n Membership  <\/h3>\n\n\n\n

Memberships are generally educational content, access to particular services or prices, design stocks, online training courses, etc. <\/p>\n\n\n\n

The most outstanding example of a membership subscription is Amazon Prime, where you get access to special shipping conditions, early access to sales, and other perks that go at a fair monthly price. <\/p>\n\n\n\n

Another fascinating example of a membership subscription that’s relatively new and growing in popularity is clothing rental. Such grand players as Ann Taylor and Banana Republic are among the brands offering clothing rental in a successful attempt to expand their businesses even further. <\/p>\n\n\n

\n Subscribe and Save <\/h3>\n\n\n\n

Subscribe and Save businesses give customers an opportunity to subscribe to a product to get an immediate discount or gain long-term value over time. <\/p>\n\n\n\n

You might find Subscribe and Save examples in such business verticals as food, fashion, home, hobby, pets, health and wellness, or even electronics. <\/p>\n\n\n

\n Media and Streaming Subscriptions  <\/h3>\n\n\n\n

In this case, the subscription service is the means of mass communication: broadcasting, publishing, and the Internet. It includes audio and video streaming services, podcasts, digital broadcast, and print subscription services. <\/p>\n\n\n\n

Offering an opportunity to subscribe to a media channel increases user engagement, makes the content more alluring to the audience, and provides monthly revenue. Just like some businesses sell magazine subscriptions, many more sell access to online media. <\/p>\n\n\n\n

A truly outstanding example of a company that sells video subscriptions online is Netflix. <\/p>\n\n\n

\n Digital Subscription <\/h3>\n\n\n\n

Digital subscriptions provide access to products, technology, and services from a computer or a mobile device. Various businesses now sell digital subscription services, such as LinkedIn or Uber. <\/p>\n\n\n

\n Software as a Service (SaaS)  <\/h3>\n\n\n\n

It is a method of software licensing where software is accessible online via a subscription rather than bought once and installed on a personal computer. <\/p>\n\n\n

\n The Benefits of Selling Subscriptions  <\/h2>\n\n\n\n

To a consumer, the apparent benefits are:<\/p>\n\n\n\n