The subscription model has its lures – especially for retailers and other consumer-facing customers. Chief among them: steady top lines that translate into cash flow, and relatively lower marketing costs. But to get there, retailers need to be judicious in how they provide payment experiences – and they must be mindful of consumers’ payment preferences, which can vary market to market. If they don’t, churn can be significant and customer loyalty can be lost, as we noted in the latest Global Recurring Payments Tracker.
Data:
50%: Share of retailers that say subscriptions increase revenue predictability.
67%: Portion of retailers that say subscriptions boost revenues.
1 billion: Projected number of video streaming service subscribers by 2024.
55%: Amount by which retailers say subscriptions increase customer loyalty.
57%: Share of individual health plan policyholders who elect to make recurring payments.
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