There’s no shortage of subscription commerce services available today. With retailers in the industry offering regular packages filled with everything from health and fitness needs, beauty products and clothing items to pet care goods, meal kits, vinyl records and more, subscription commerce companies have officially caught on, with mounting prevalence in the U.S. and overseas.
According to recent data from the most recent PYMNTS Subscription Commerce Conversion Index™, a Recurly collaboration, the best subscriptions offer a wide selection and plenty of clarity in their terms of services. Subscription commerce is helping retailers get goods in the hands of consumers, easing customers’ pain points and even (potentially) saving struggling industries like movie theaters from succumbing to the pressures posed by influential competitors.
For extensive research on the growing subscription commerce industry, read the full PYMNTS Subscription Commerce Conversion Index™. In the meantime, though, here are the numbers:
114.6 | Average number of seconds it took to sign up for subscription services this quarter, a 16.2 percent drop from Q2 2017
100 | Percentage of top merchants offering clear pricing and terms for subscription packages
95 | Percentage of top merchants providing plan changes for customers looking to explore new subscription options
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81 | Score out of 100 obtained by the highest-rated industry, SaaS/Cloud Computing
90 | Percentage of top merchants offering easy cancellation processes
65 | Percentage of top merchants offering product ratings and reviews
59.6 | Average Subscription Commerce Conversion Index score out of 100
