Subscription based models are a great demonstrator of how traditional business has been shifting in a technologically innovative direction. Now that most Americans have access to a smartphone, people can set up autopayments with many online subscriptions that allow them to have access to almost any kind of product or service imaginable. Dog walking, video games, and even plants are all examples of what far-fetched ideas can be turned into consistent access for a consumer.
There are three primary subscription models that have emerged onto the scene, including membership/access, curated, and replenishment services. Curated subscriptions are the most popular, making up over half of the market. Replenishment services are constantly refilled in a timeframe, which is optimal for goods such as groceries, toiletries, and office supplies. Membership/access subscriptions are recognizable through companies such as Amazon Prime and Sam’s Club. These usually offer special discounts and access to their members.
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