Subscription services have become a hot business. Today just about everything you can imagine from your weekly groceries to the car you drive can be attained with a subscription service. Most appealing about these services is the convenience, discovery and trendy possibilities they provide. For the 2019 holiday season, they were also a hotly requested item on most people’s wish lists.
According to reports, Cyber Monday, which was one of the biggest online shopping days in history – $9.2B in sales according to calculations by Adobe, also saw an increase in people signing up for subscription services.
Box-of-the-month and digital media streaming services topped this list of subscription services people are signing up for today and online courses came in a close third as what people are signing up to pay for monthly.
Giving these as gifts have become a popular choice because of the variety and personalization options possible. For those with beer lovers, foodies, or make-up junkies on their shopping lists, for example, there are a plethora of options to pay for a monthly or yearly delivery of curated boxes without having to do much else for the gift than to set-up the payment method.
For subscription service providers this increase can also be profitable for the overall business. Once a customer chooses to gift a subscription service or box to someone there is a likelihood they too will become customers and create additional profit for the company.
Choosing subscription services for holiday gifts this year was also interestingly followed by a change in payment options for subscription offerings. Many people were found to use payment solutions like PayPal to process their fees which shows an additional push for the ease and convenience that automated, all online commerce and solutions are continuing to have on consumer spending habits.
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