Today In Data

Today In Data: The Latest In Subscription Commerce

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

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

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Featured PYMNTS Study: 

With eyes on lowering costs to improving cash flow, 85 percent of U.S. firms plan to make real-time payments integral to their operations within three years. However, some firms still feel technical barriers stand in the way. In the January 2020 Making Real-Time Payments A Reality Study, PYMNTS surveyed more than 500 financial executives to examine what it will take to channel RTP interest into real-world adoption. Here’s what we learned.

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